Raghuram Rajan – former Chief Economist at the International Monetary Fund, former Governor of the Reserve Bank of India and currently Professor of Finance at University of Chicago Booth School of Business. Professor Rajan is author of The Third Pillar: How the State and Markets are leaving Communities Behind, 2019. He was one of the few leading economists to forecast the 2008 financial crisis. We talk to Professor Rajan about the crucial role of local governments in national development and how capital markets can open up to local government finance. We touch upon national markets and also the international financial architecture and how it can be made more friendly to local government finance.

Producers: Nan Zhang, Fernando Zarauz, Carlos Macias