Home » Subir Gokarn – A Tribute


Dr. Subir V. Gokarn [1959-2019]

A noted economist, late Subir Gokarn was born in Mumbai on October 3, 1959, the only child of Nirmala and Vasant Gokarn. After completing undergraduate studies at the University of Bombay and a Master’s degree at the Delhi School of Economics, Subir did his PhD in Economics at Case Western Reserve University, Ohio, USA. His professional career covered appointments at IGIDR Mumbai (Associate Professor; 1991-2000), NCAER Delhi (Chief Economist; 2000-2002), Standard and Poor’s (Chief Economist, Asia and Pacific; 2002-2009), Reserve Bank of India (Deputy Governor; 2009-2012), Brookings India (Director of Research; 2012-2015) and the International Monetary Fund (Executive Director; 2015-2019). During 1997-98, he was a Fulbright Fellow at the Economic Growth Centre, Yale University. He was a prolific columnist for the Business Standard newspaper in India and a frequent commentator on television. His ability to work effectively across academia, government and business demonstrated his abiding interest in applying economics to the real world.

Dr Gokarn’s career research interests have primarily been in the reforms process and its interrelationship with economic performance. He has addressed these issues from a variety of perspectives – cross-country comparisons, with particular focus on East Asia, and at macroeconomic, sector and industry levels in the Indian context. His research has resulted in a number of academic and media publications, including two co-authored books on the performance of the East Asian economies, and a co-edited book on the structure of Indian industry.

He passed away in Bethesda, Maryland, USA on July 30, 2019. He is survived by his wife Jyotsna Bapat and daughter Kanak Gokarn.

The three tabs below capture Dr Gokarn’s selected media writings, academic publications at IGIDR and research guidance at IGIDR.

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All the media writings (op-eds) presented in this section were published by Dr. Subir V. Gokarn in the Business Standard between 2004 and 2017. All rights to the original document are reserved by the Business Standard. The op-eds are reproduced here and annotated for educational purposes only."

Introduction to Dr Gokarn’s Media Writings

This section provides access to nearly 100 selected opinion pieces (op-eds) of late Dr. Subir V Gokarn that were originally published over the period 2004-2017 in the Business Standard newspaper, along with their respective abstracts written specifically for this initiative. The articles have been organized under 13 categories such as Central Bank Policies; Financial Economics; International Economics; Macroeconomics and Business Cycles; Public Finance and Policy etc. The articles’ classifications as well as their abstracts are designed to make it easy for the readers to navigate through this collection and quickly find the op-eds of their interest. Subir Gokarn taught at IGIDR for several years and therefore, it is fitting that this institution is hosting this collection.

Op-eds on this site were originally written for the readers of the Business Standard, who may not necessarily have had any formal training in economics. However, on a careful reading, students of economics will find that the discussion and the arguments in these op-eds rest on solid theoretical ground. Almost every piece has a cogent economic framework underpinning the opinions being advanced. Although these op-eds were written a while ago they are not just of historical relevance but can contribute to a better understanding of today’s economic issues and development challenges. Furthermore, despite their analytical rigor they are written in an easy to understand style.

The art of rhetoric, i.e. the ability to enrich a debate and influence the audience, should be an important element in the toolkit of economic studentship. Thus, the writing of brief persuasive essays well- grounded in economic theory should be part of the training for future professional economists. However, in most universities, rhetoric is not part of formal economic curriculum, leaving a gap that students are typically expected to fill themselves through experience. This collection of Dr. Gokarn’s op-eds has been selected with the objective to address this gap. These op-eds should help develop skills to analyze recent economic developments, create frameworks appropriate for such analyses and communicate the findings effectively. Being richly imbued with brevity, clarity and persuasiveness, these op-eds are a valuable resource for students, especially those in the early stages of their intellectual development.

The Team

The curation of the op-eds and the preparation of their respective abstracts were done by four of Dr Gokarn’s friends and Delhi School of Economics classmates: Nalin Kishor, Nirmal Mohanty, Narendra Singh and Probir Roy together with Jyotsna Bapat. Mousumi Ganguly provided editorial support. TN Ninan and AK Bhattacharya of Business Standard supported this initiative since its inception. From the very start of the project, S. Mahendra Dev, Director, IGIDR provided institutional support while Jayati Sarkar, Subrata Sarkar and A. Ganesh Kumar (faculty members, IGIDR) advised and coordinated the project. Lingaraj Panda (Head of IT, IGIDR) managed the technical aspects of design and construction of the web pages.

Books / Monographs (BK series)

BK-1992-008Policy options for economic reforms, An IMC/IGIDR Series, Vol.1. Bombay, Indian Merchants' Chamber 1992.Mishra, Veena; Agrawal, Pradeep; Gokarn, Subir; Saha, Bibhas
BK-1994-013The cement industry in India: Competitive structure, profitability and prospects, ICRA sector focus. Bombay, Investment Information and Credit Rating Agency (ICRA), 1994.Gokarn, Subir; Vaidya, Rajendra R
BK-1995-015Economic restructuring in East Asia and India: Perspectives on policy reforms. New Delhi, Macmillan India, 1995.Agrawal, Pradeep; Gokarn, Subir; Mishra, Veena; Parikh, Kirit S; Sen, Kunal
BK-2000-033Policy regimes and industrial competitiveness: A comparative study of East Asia and India. Hampshire, Macmillan, 2000.Agrawal, Pradeep; Gokarn, Subir; Mishra, Veena; Parikh, Kirit S; Sen, Kunal

Research Papers (RP Series)

RP-1993-063Climate change and India's energy policy options: New perspectives on sectoral CO2 emissions and incremental costs, Global environmental change, 3(3), September 1993Parikh, Jyoti K; Gokarn, Subir
RP-1993-075Deregulation and industrial performance: A case study of the Indian cement industry, Economic and Political Weekly, V.28(8-9), 1993Gokarn, Subir; Vaidya, Rajendra R
RP-1996-220Indian capital market reforms 1992-1996: An assessment, Economic and Political Weekly, V.31(15), 1996Gokarn, Subir
RP-2000-429The East-Asian crisis of 1997: Some implications for India, India development report, 1999-2000. Ed by Kirit S. Parikh, New Delhi,Oxford Uni Pr,1999Gokarn, Subir

Discussion Papers (DP Series)

DP-91-59Consumption Patterns: The Driving Force of Environmental Stress.Jyoti Parikh,Kirit Parikh,Subir Gokarn,J.P. Painuly and Bibhas Saha
DP-92-76Climate Change and India's Energy Policy OptionsJyoti Parikh and Subir Gokarn
DP-92-83Learning from Tigers and Cubs Economic Restructuring in East Asia : Lessons for IndiaPradeep Agrawal ,Subir V. Gokarn,Veena Mishra,Kirit Parikh and Kunal Sen
DP-93-86Deregulation and Industrial Performance: A Case Study of the Indian Cement IndustrySubir Gokarn and Rajendra Vaidya

Projects and Proceedings (PP series)

PP-030Financial sector reform in IndiaAshima Goyal,Pradeep Agarwal,Kunal Sen,Subir Gokarn,Rajedra R. Vaidya,K.S.Parikh
PP-026Policies for industrial competitiveness: What India can learn from the East Asian experience.Pradeep Agarwal,Subir Gokarn,Veena Mishra,Kirit S. Parikh and Kunal Sen
PP-014Consumption patterns: The driving force of environmental stress. Report prepared for United Nations Conference on Environment and Development (UNCED), 1991.J.K.Parikh,Kirit S. Parikh,Subir Gokarn,J.P.Painuly,Bibhas Saha,Vibhooti Shukla

NameDegreeBatchYear of awardThesis Title Supervisor(s)Thesis
1Rajendra R. RanePh.D.19911999Risk, Returns, Anomalies and Efficiency of the Indian Stock Market: A Study of Cross-Sectional and Calendar Effects in the Bombay Stock Exchange (1964)Dr. Kirit S. Parikh;
Dr. Subir Gokarn
Dr.Rajendra Vaidya;
Dr. PV Srinivasan
2Vinish Kumar KathuriaPh.D.1993
2000Technology Transfer, Productivity Spillovers and Technical Change-A Study of Indian Manufacturing IndustryDr.Subir GokarnDr. Subrata Sarkar;
Dr. K.V. Ramaswamy
3Tushar M. WaghmarePh.D.1993
2001Market Microstructure and Performance: A Study of the Indian Stock MarketDr.Subir GokarnDr. Rajendra V.;
Dr. Subrata Sarkar;
Dr. Ajay Shah
4Saumitra N. BhaduriPh.D.1994200Patterns and Determinants of Capital Structure: A Study of the Indian Corporate SectorDr. Subir Gokarn;
Dr. Subrata Sarkar
Dr. B. Guha-Khasnobis;
Dr. Jayati Sarkar
5Vardhana SaplePh.D.19942000Diversification, Merger and their Effect on Firm Performance - A Study of the Indian Corporate SectorDr. Subir Gokarn;
Dr. Rajendra R.Vaidya
Dr. Anindya Sen;
Dr. Subrata Sarkar