Quotes from Raghuram Rajan

Politicians know that structural reforms - to increase competition, foster innovation, and drive institutional change - are the way to tackle structural impediments to growth. But they know that while the pain from reform is immediate, gains are typically delayed and their beneficiaries uncertain.

A monopoly is like running on firm ground. Nothing compels you to move, but if you do, you move forward. The faster you run, the more scenery you see - so you have some incentive to run fast.

Endorsing unconventional monetary policies unquestioningly is tantamount to saying that it is acceptable to distort asset prices if there are other domestic constraints on growth.

Perhaps the hardest challenge has been to persuade the public, impatient for rapid growth, of the need to ensure stability first. Growth, it is argued, is always more important, regardless of the looming economic risks.

It is the central bank governor, unlike other regulators or government secretaries, who has command over significant policy levers and has to occasionally disagree with the most powerful people in the country.

Our actions will be at measured pace given the current market turmoil.

We should make sure that unscrupulous schools do not prey on uninformed students, leaving them with high debt and useless degrees.

Every adverse development across the world affects the rest of the world in some way.

The few emerging economies that have avoided booms and busts have done so by adhering to sound policy frameworks.