Prasad, Eswar Shanker

Nandlal P. Tolani Senior Professor of Trade Policy; International Professor of Applied Economics and Management
Eswar Prasad is the Tolani Senior Professor of Trade Policy at Cornell University. He was previously Chief of the Financial Studies Division in the IMF’s Research Department and, before that, was the head of the IMF’s China Division. Eswar Prasad received his Ph.D. from the University of Chicago. His research has spanned a number of areas including labor economics, business cycles, and open economy macroeconomics. His extensive publication record includes articles in numerous collective volumes as well as top academic journals. He has co-authored or edited several books and monographs on financial globalization, China, and India. His current research interests include the macroeconomics of globalization, the relationship between growth and volatility, and the Chinese and Indian economies. Many of his research papers and quotes from his speeches have been cited extensively in the international press. He has contributed op-ed articles to the Financial Times, International Herald Tribune, Wall Street Journal Asia and various other newspapers. He has testified before the Senate Finance Committee and the House of Representatives Committee on Financial Services (both on China), and his research has been cited in the U.S. Congressional Record.

research

research and scholarship focus

My primary research interests lie at the intersection of macroeconomics and international finance. In particular, I am interested in understanding the determinants and consequences of international capital flows, especially for developing economies. I have also been doing a considerable amount of research on China and India, with particular emphasis on monetary policy, capital account liberalization and sustainable growth.

international geographic focus

submitted impact statement

affiliations

faculty appointment in

member of graduate field

teaching

teaching focus

My primary teaching interests are on the topics of financial globalization (graduate) and a comparative perspective on the growth miracles of China and India (undergraduate).

teaches

service

outreach focus

I am actively involved in advising the office of the Chairman of the Senate Finance Committee--Senator Max Baucus--on China legislation. I have also been providing advice to the U.S. Treasury on matters concerning China, India and financial globalization. I am helping draft a government-sponsored report on financial sector reforms in India.

current professional activities

Professor Prasad has served as the co-editor of the journal IMF Staff Papers, was on the editorial board of Finance & Development, and was the founding editor of the IMF Research Bulletin. He has been a Research Fellow of the Institute for the Study of Labor, Bonn (IZA) since 2002.

background

educational background

  • Ph.D., University of Chicago, 1992
  • M.A., Brown University, 1986
  • B.A., University of Madras, 1985

professional background

I was previously chief of the Financial Studies Division in the International Monetary Fund’s Research Department and, before that, head of the IMF’s China Division.

awards and distinctions

• University Fellowship, University of Chicago, 1986-90
• University Fellowship, Brown University, 1985-86
• National Talent Search Scholarship, Government of India, 1982-85

publications

selected publications (listing in progress)

 

  • Prasad, Eswar, and Raghuram Rajan. 2008. A Pragmatic Approach to Capital Acount Liberalization. Journal of Economic Perspectives, forthcoming
  • Prasad, Eswar, Raghuram Rajan and Arvind Subramanian. 2007. Foreign Capital and Economic Growth. Brookings Papers on Economic Activity 38(1):153-230
  • Goodfriend, Marvin, and Eswar Prasad. 2007. A Framework for Independent Monetary Policy in China. CESifo Economic Studies 53(1):2-41.
  • Keane, Michael, and Eswar Prasad. 2006. Changes in the Earnings Structure during the Polish Transition. Journal of Development Economics 80(2): 389-427.
  • Prasad, Eswar, and Raghuram Rajan. 2006. Modernizing China’s Growth Paradigm. American Economic Review 96(2):331-336.
  • Kose, M. Ayhan, Eswar Prasad, and Marco Terrones. 2006. How Do Trade and Financial Integration Affect the Relationship Between Growth and Volatility? Journal of International Economics 69(1):176-202.
  • Prasad, Eswar, Jahangir Aziz, and Steven Dunaway, editors. 2006. China and India: Learning from Each Other. Washington, DC: International Monetary Fund.
  • Prasad, Eswar. 2004. The Unbearable Stability of the German Wage Structure: Evidence and Interpretation. IMF Staff Papers 51(2):354-85.
  • Kose, M. Ayhan, Eswar Prasad, and Marco Terrones. 2003. How Does Globalization Affect the Synchronization of Business Cycles? American Economic Review 93(2):57-62.
  • Chinn, Menzie, and Eswar Prasad. 2003. Medium-Term Determinants of Current Accounts in Industrial and Developing Countries: An Empirical Exploration. Journal of International Economics, 59(1):47-76.
  • Lumsdaine, Robin, and Eswar Prasad. 2003. Identifying the Common Component in International Economic Fluctuations: A New Approach. The Economic Journal 113(1):101-27.
  • Prasad, Eswar. 2002. Wage Inequality in the United Kingdom, 1975-99. IMF Staff Papers 49(3):339-63.

    • speaker at Cornell event

    contact

    email address

    eswar.prasad@cornell.edu

    Keywords: applied economics and management, business cycles, china, india, international trade and finance, open economy macroeconomics