Rajiv LALL













Professorial Research Fellow  
Email: rajivblall [at] smu.edu.sg  




PhD, Economics

Columbia University


B.A. (Honours), Politics, Philosophy and Economics   

University College, Oxford University



  • Professorial Research Fellow, Sim Kee Boon Institute for Financial Economics
  • Management Committee, Singapore Green Finance Centre



  • Private equity/venture capital 
  • International capital markets
  • Infrastructure and macroeconomic policy



  • Aadhaar: Too Much of a Good Thing? - in Making of New India, Transformation Under Modi Government, B. Debroy, A. Ganguly and K.Desai, Editors, Wisdom Tree, New Delhi, November, 2018 

  • “Modicare” and the Foundations for a Reformed Welfare State in India, with Vivek Dehejia, Mint, September, 2018

  • What’s Not to Like – An Analysis of the Budget, February 2017 (http://indianexpress.com/article/opinion/columns/budget-union-economic-surve y-reforms-rbi-recapitalisation-4503077/)

  • New Perspectives on Financial Inclusion – Lecture series at Lord Megnadh Desai Academy, February 2017 (https://www.youtube.com/watch?v=h9ID48bhH5U) 
  • The New Right - A Counterpoint to The Old Left, January 2017 (http://indianexpress.com/article/opinion/columns/thenew-right/)
  • The Guptas, the State and the Private Sector - Lecture series at O.P. Jindal School of Government and Public Policy, November 2015
  • Five Year Strategy for Indian Railways, background paper for Railway Budget 2015, published September 2015
  • Turn the PPP Model on Its Head, January 2015 (http://www.business-standard.com/article/opinion/rajiv-lall-turn-theppp-model-on-its-head-115010300622)
  • White Paper on Infrastructure Sector in India – A Diagnostic of the Challenges and Suggestions for the Way Ahead. Presented at the India Ideas Conclave, India Foundation, November 2014
  • Privatization Not a Panacea for PSU Banks, September 2014 (http://www.business-standard.com/article/opinion/rajivlall-privatisation-not-a-panacea-for-psu-banks-114091001388)
  • The Difficulty of Making Business Easier to Do, June 2014 (http://www.business-standard.com/article/opinion/rajivlall-the-difficulty-of-making-business-easier-to-do-114062501235
  • Job Creation: A Counter- Intuitive Model, March 2014 (http://www.business-standard.com/article/opinion/rajiv-lall-jobcreation-a-counter-intuitive-model-114031101168)
  • Modernizing Transport Infrastructure with R. Anand - Getting India Back on Track: An Action Agenda for Reform, B.Debroy and A.Tellis (Editors), Carnegie Endowment, June 2014 (https://issuu.com/carnegie_endowment/docs/gibt_issuu) (https://books.google.co.in/)
  • India’s Infrastruggles - in Reimagining India, McKinsey and Co., Unlocking the Potential of Asia’s Next Superpower, November, 2013
  • Democracy Inclusion and Fiscal Discipline, November 2013 (http://www.business-standard.com/article/opinion/rajivlall-democracy-inclusion-and-fiscal-discipline-113110500993)
  • The Good, Bad and Ugly of India’s Rural Transformation, November 2013 (http://www.businessstandard.com/article/opinion/rajiv-lall-the-good-the-bad-and-the-ugly-of-india-s-rural-transformation-113111901194)
  • Financing Infrastructure, with R. Anand, IDFC Occasional Paper, 2009. (http://www.idfc.com/pdf/white_papers/bs_infra_funding.pdf)
  • Developing Physical Infrastructure: A Comparative Perspective on the Experience of China and India, with Anand and Rastogi, Asian Development Bank, 2008 (https://www.adb.org/sites/default/files/publication/28001/resurging-asiangiants.pdf)
  • The Political Economy of Infrastructure Development in Post-Independence India, with Rastogi, IDFC Occasional Paper, 2007. (http://www.idfc.com/pdf/publications/the_political_economy_of_infrastructure_development_in_post_independence_india.pdf)
  • China at the Threshold of a Market Economy with Michael W. Bell, Hoe Ee Khor and Kalpana Kochhar, IMF 1993 (https://books.google.co.in/books?id=maCs1rHLfvIC&printsec=frontcover&source=gbs_ViewAPI&redir_esc=y#v=onepage&q&f=false)
  • China Country Economic Memorandum: Macroeconomic Stability in a Decentralized Economy, World Bank, 1994. (http://documents.worldbank.org/curated/en/748321468770440758/pdf/multi0page.pdf)
  • China: Foreign Trade Reform, World Bank, 1993. (http://documents.worldbank.org/curated/en/424651468769174777/pdf/multi0page.pdf)
  • Regional Cooperation for Adjustment: A Program of Trade and Indirect Tax Reforms for Member Countries of the Customs Union of Central African States (UDEAC), World Bank, 1992. (http://documents.worldbank.org/curated/en/895751468001783941/pdf/multi0page.pdf)
  • China: Reforms and Development, with Peter Harrold, World Bank1993 (http://documents.worldbank.org/curated/en/424651468769174777/pdf/multi0page.pdf)
  • Multinationals from the Third World: Indian Firms Investing Abroad, Oxford University Press, 1986.
  • Third World Multinationals, the Characteristics of Indian Firms Investing Abroad, Journal of Development Economics 20, 381-397, North Holland, 1986.



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