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{{short description|Indian economist}}
{{Use dmy dates|date=June 2018}}
{{BLP sources|date=November 2019}}
{{Infobox person
|name = Mihir Rakshit
||image=File:Mihir rakshit 2013.jpg
|birth_date = {{Birth date and age|1936|07|01|df=yes}}
|birth_place = [[Chittagong]], [[Bengal Presidency]], [[British India]] (now [[Bangladesh]])
|alma_mater = [[Calcutta University]]<br>[[London School of Economics]]
|occupation = Former Professor of Economics at Presidency College Calcutta and Former Editor in chief, icra bulletin: ''Money and Finance''
}}

'''Mihir Rakshit''' (born 1 July 1936) is an Indian economist, known for his work on fiscal, monetary and other policy, especially issues that concern developing economies. Originally from Chittagong, which is now in [[Bangladesh]], he did his graduation from Presidency College, Calcutta and post-graduation from the University of Calcutta. He taught at the departments of Economics of The [[University of Calcutta]], [[The University of Burdwan]], [[Presidency College Calcutta]], and [[Indian Statistical Institute]] [[Calcutta]], as faculty. He also taught at [[Delhi School of Economics]] and [[Erasmus University Rotterdam]], as visiting faculty. He served the [[Reserve Bank of India]] for two terms as a member of its central board of Directors.<ref>The RBI central board of directors was reconstituted in 2000. See news report ([http://www.thehindu.com/2000/11/29/stories/06290006.htm RBI board reconstituted]{{dead link|date=April 2021|bot=medic}}{{cbignore|bot=medic}})in the online edition of [[The Hindu]], Wednesday, 29 November 2000.</ref> He was Editor-in-chief of the open access quarterly journal ''Money and Finance'' published by [[ICRA Limited]] from 1997 to July 2016.

== Education and teaching career ==

As a student of economics in [[Presidency College, Kolkata|Presidency College]], [[Calcutta]],<ref>It was a College then, not an autonomous University.</ref> he received valuable guidance from teachers like [[Bhabatosh Datta]] and Tapas Majumdar. After this he got enrolled into [[Calcutta University]] as an MA Economics student and stood first in the MA examination.

Immediately upon completing the master's degree course, he went into teaching. He taught first at Calcutta University and then at [[The University of Burdwan]], at Burdwan University as Head of Department of Economics. After teaching in Burdwan University for three years, he went to London, to do his [[PhD]] research at [[London School of Economics and Political Science]]. His [[PhD]] guides were [[Richard Lipsey]] and S. A. Ozga and the title of the thesis was ''Monetary Factors in the Theory of Growth''.

While at Burdwan University, he wrote a textbook in Bengali,<ref>[http://dli.serc.iisc.ernet.in/handle/2015/455608 ''অর্থনীতি (মূল্যতত্ত্বের উপক্রমণিকা)'']</ref> which became quite popular among college teachers of Economics of those times, as well as among aspirant young economists.

Rakshit joined Presidency College, Calcutta, as Professor of Economics in 1965 and was there for a long time, before joining [[Indian Statistical Institute]] [[Calcutta]] in 1992. During 1991-92, he was SBI Chair Professor of [[National Institute of Public Finance and Policy|The National Institute of Public Finance and Policy (NIPFP)]]. He had also taught at [[Delhi School of Economics]] as visiting faculty long back in nineteen seventies, and taught at [[Erasmus University Rotterdam]] in early nineties.<ref>[https://global.oup.com/academic/product/macroeconomics-of-post-reform-india-9780198070092?cc=in&lang=en&# Macroeconomics of Post-Reform India: Author Information]</ref>

== Academic awards ==

=== Memorial Lectureship Medal ===
1996: Dr. Satyendranath Sen Memorial Lectureship Medal was conferred to Mihir Rakshit by [[The Asiatic Society]].

=== Endowment awards ===
1997: UGC Swami Pranavananda Saraswati National Award, [[University Grants Commission of India]]<ref>A [http://www.ugc.ac.in/page/Honours-and-Awards.aspx complete list] is available at the official site of University Grants Commission .</ref>

2016: Atul Chandra Gupta Distinguished Alumnus Award 2016,
Presidency Alumni Association Calcutta.

=== Degrees awarded honoris causa ===
2005: Doctor of Science, [[University of Calcutta]]<ref>Source: complete list of recipients, year by year, starting 1876. http://www.caluniv.ac.in/about/honoris.html</ref>

2011: Doctor of Letters, [[University of Kalyani]]<ref>Source: Chancellor's address to the university. http://www.rajbhavankolkata.gov.in/WriteReadData/Speeches/CONVOCATION%20KALYANI%20UNIVERSITY.pdf</ref>

== Publications ==

=== Books authored, edited and co-edited ===

==== Authored ====

* ''Arthaniti, Mulyatattwer Upakramanika (অর্থনীতি, মূল্যতত্ত্বের উপক্রমণিকা)'' (A. Mukherjee Pvt. Ltd, Calcutta, 1962)
* ''Arthaniti, Mulyatattwer Upakramanika (অর্থনীতি, মূল্যতত্ত্বের উপক্রমণিকা)'' Revised 2nd edition (A. Mukherjee, 1970)
* [https://www.amazon.in/dp/0391027808 The Labour Surplus Economy: A Neo-Keynesian Approach] (Humanities Press, 1983)<ref>Distinguished macroeconomist Amit Bhaduri wrote a detailed critique of this book in [[Economic and Political Weekly]]. [http://www.epw.in/journal/1985/24/reviews-uncategorised/towards-macro-economics-india.html Amit Bhaduri, Towards a Macro-Economics of India, EPW volume 20, issue 24, 15 June 1985]</ref>
* [https://www.amazon.in/dp/0863113680 Trade, Mercantile Capital and Economic Development (R.C. Dutt Lectures] ([[Orient Blackswan]], 1992)
* [https://www.amazon.com/dp/0195657233 The East Asian Currency Crisis], ([[OUP]], 2001)
* [https://global.oup.com/academic/product/macroeconomics-of-post-reform-india-9780198070092?cc=in&lang=en& Macroeconomics of Post-Reform India] ([[OUP]], 2010)
* [https://global.oup.com/academic/product/money-and-finance-in-the-indian-economy-9780198070108?cc=in&lang=en& Money and Finance in the Indian Economy]([[OUP]], 2010)

==== Edited ====

* [https://www.amazon.in/dp/0195623401 Studies in the Macroeconomics of Developing Countries] ([[OUP]], 1989)

==== Co-edited ====

* With Manabendu Chattopadhyay and Pradeep Maiti, [https://www.amazon.in/dp/0803992815 Planning and Economic Policy in India: Evaluation and Lessons for the Future] ([[Sage Publications|Sage]], 1996)
*With Amitava Bose and Anup Sinha, [https://books.google.com/books/about/Issues_in_Economic_Theory_and_Public_Pol.html?id=rRfrAQAACAAJ&redir_esc=y ''Issues in Economic Theory and Public Policy: Essays in Honour of Professor Tapas Majumdar''] ([[OUP]], 1997)
* With M. Govinda Rao, [http://www.sagepub.in/books/Book235777?subject=B00&sortBy=defaultPubDate+desc&rows=50&pager.offset=100&fs=1 ''Public Economics Theory and Policy: Essays in Honor of Amaresh Bagchi''] ([[Sage Publications|Sage]], 2011)

=== Chapters in Books ===
Uses and Abuses of Instruments for Resource Mobilization: The Indian Experience, in Robert E.B. Lucas and Gaustav F. Panpanek, [https://www.amazon.in/dp/019562419X ''The Indian Economy: Recent Development and Future Prospects''] ([[Westview Press]], 1988)

Effective Demand in a Developing Economy: Approaches and Issues, in Mihir Rakshit (ed.), [https://www.amazon.co.uk/dp/0195623401 ''Studies in the Macroeconomics of Developing Countries''] ([[OUP]], 1989)

The Analytical Framework of Keynes, in Krishna Bharadwaj and Sudipta Kaviraj (eds.), [https://www.amazon.in/dp/0803996195 ''Perspectives on Capitalism Marx, Keynes, Schumpeter and Weber''] ([[Sage Publications|Sage]],1989)

Underdevelopment of Commodity, Credit and Land Markets: Some Macroeconomic Implications, in Mihir Rakshit (ed.), [https://www.amazon.co.uk/dp/0195623401 ''Studies in the Macroeconomics of Developing Countries''] ([[OUP]], 1989)

Aspects of Foreign Trade in a Developing Economy, in Ashok Guha (ed.), [https://books.google.com/books/about/Economic_liberalization_industrial_struc.html?id=X9XsAAAAMAAJ&redir_esc=y ''Economic liberalization, industrial structure, and growth in India''] ([[OUP]], 1990)

Trade and Exchange Rate Policy with a Binding Foreign Exchange Constraint, in Pranab Bardhan, Mrinal Dutta-Choudhuri and T.N. Krishnan (eds.), [https://www.amazon.in/dp/0195631226 ''Development and Change: Essays in Honour of K.N.Raj''] ([[OUP]], 1993)

Issues in Structural Adjustment of the Indian Economy, in Edmar L. Bacha (ed.), [https://www.amazon.in/dp/0312107382 ''Economics in a Changing World: Development, Trade and the Environment''] ([[Macmillan Publishers|Macmillan]], 1994)

Development Economies: A Synoptic View, introductory chapter of Sukhomoy Chakravarty, [https://www.amazon.in/dp/0195640934 ''Writings on Development''] ([[OUP]], 1997)

Money, Credit and Government Finance in a Developing Economy, in A. Bose, M. Rakshit and A. Sinha (eds.), [https://books.google.com/books/about/Issues_in_Economic_Theory_and_Public_Pol.html?id=rRfrAQAACAAJ&redir_esc=y ''Issues in Economic Theory and Public Policy: Essays in Honour of Professor Tapas Majumdar''] ([[OUP]], 1997)

On the Inflationary Impact of Budget Deficit, in Deena Khatkhate (ed.), [https://www.bookshopofindia.com/search.asp?action1=default&bookid=58944 ''Money & Finance: Issues, Institutions, Policies''] (Orient Longman, 1998)

Globalisation of Capital Market: Some Analytical and Policy Issues, in Servaas Storm and C. W. M Naastepad (eds.), [https://www.amazon.in/dp/1840646934 ''Globalisation and Economic Development: Essays in Honour of J.George Waardenburg''] ([[Edward Elgar Publishing]], 2001)

Some Macroeconomies of India's Reform Experience, in Kaushik Basu (ed.), [https://www.amazon.in/dp/0262025566 Kaushik Basu (ed.), ''India's Emerging Economy: Performance and Prospects in the 1990s and Beyond''] ([[MIT Press]], 2004)

Budget Deficit: Sustainability, Solvency and Optimality, in Amaresh Bagchi (ed.), [https://www.amazon.in/dp/B007YXSRXI ''Readings in Public Finance''] ([[OUP]], 2005).

Some Macroeconomic Aspects of Foreign Trade: A Structuralist Perspective, in Sajal Lahiri and Pradip Maiti (eds), [https://www.amazon.com/dp/0195672305 ''Economic Theory in a Changing World: Policymaking for Growth''] ([[OUP]], 2005)

India's Macroeconomic Puzzles, in K L Krishna and A Vaidyanathan (eds.), [https://www.amazon.in/dp/0195686691 ''Institutions and Markets in India's Development: Essays For K.N. Raj''] ([[OUP]], 2007)

Budgetary Rules and Plan Financing: Revisiting the Fiscal Responsibility Act, in [http://www.sagepub.in/books/Book235777?subject=B00&sortBy=defaultPubDate+desc&rows=50&pager.offset=100&fs=1 ''Public Economics Theory and Policy: Essays in Honor of Amaresh Bagchi''] ([[Sage Publications|Sage]], 2010)

Research in Social Sciences: Availability and Utilization of Resources, in M. V. Nadkarni and R. S. Deshpande (eds.), [https://www.amazon.in/dp/8171888445 Social Science Research in India: Institutions and Structure] ([http://www.ipgbook.com/academic-foundation-publisher-ACF.php Academic Foundation], 2012)

Financial Crisis and Liquidity Trap: Some Theoretical and Policy Perspectives, in S Mahendra Dev and P. G. Babu (eds.), [https://www.springer.com/in/book/9788132225409 Development in India Micro and Macro Perspectives] ([[Springer Science+Business Media|Springer]], 2015).

==References==
{{Reflist}}

{{Authority control}}
{{DEFAULTSORT:Rakshit, Mihir}}
[[Category:Bengali people]]
[[Category:Alumni of the London School of Economics]]
[[Category:Presidency University, Kolkata alumni]]
[[Category:Erasmus University Rotterdam faculty]]
[[Category:Presidency University, Kolkata faculty]]
[[Category:20th-century Indian economists]]
[[Category:Living people]]
[[Category:Scientists from West Bengal]]
[[Category:University of Calcutta alumni]]
[[Category:University of Burdwan faculty]]
[[Category:University of Calcutta faculty]]
[[Category:People from Chittagong]]
[[Category:1936 births]]
[[Category:Macroeconomists]]
[[Category:21st-century Indian economists]]

Mihir Rakshit - Revision history

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