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Nicholas Stern to be first holder of the IG Patel Chair at the London School of Economics

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Sir Nicholas Stern is to become the first holder of the IG Patel Chair at the London School of Economics and Political Science, heading a new India Observatory within LSE's Asia Research Centre, it was announced today [Thursday 7 December].

Photograph from the LSE Asia ForumThe appointment was announced at LSE's third Asia Forum|, being held in New Delhi, India. Sir Nicholas was among speakers, including Indian prime minister, Dr Manmohan Singh, discussing issues around globalisation with more than 600 invited guests from academia, government and business organisations. Click here to read the prime minister's address|.

The new Chair is named after Dr IG Patel, the distinguished former governor of the Reserve Bank of India who was the ninth director of LSE between 1984 and 1990. Dr Patel died in July 2005, and the Forum is dedicated to him this year.

The IG Patel Chair in Economics and Government will lead the LSE India Observatory and honour the contribution IG Patel made to public life, UK-India relations and the School. The IG Patel Chair is supported by the Reserve Bank of India and the State Bank of India.

Dr YV Reddy, governor of the Reserve Bank of India, said: 'As a token of our gratitude and true to the emotional commitment of Dr Patel to the cause of higher education and scholarship in a globalised environment, we are associating with LSE in instituting a Chair in his memory.'

Sir Nicholas Stern will re-join LSE on 1 June 2007. Sir Nicholas will also be Director of the LSE Asia Research Centre and will contribute to climate change research at LSE.

He is currently head of the UK Government Economic Service, a position he has held since October 2003.

Sir Nicholas said: 'I am delighted to be coming back to LSE. IG Patel first gave me the opportunity to work at LSE, and it is a great honour to hold the Chair in his name. His friendship and guidance were cherished by all who knew him. Research on Asia and on economic development has been at the heart of my academic life. I am pleased to be able to continue this work and to develop and deepen the relationship between the LSE and India.'

Howard Davies, Director of LSE, said: 'We look forward to welcoming Nick Stern back to LSE. We are proud that he has agreed to honour Dr IG Patel's memory by taking up this Chair and directorship of the new India Observatory. His involvement as head of the Observatory and of our Asia Research Centre will enhance the School's reputation, take forward its work on Asia and continue the intellectual and political dialogue there has been between LSE and India for many years.'  

Ends

Contact: Judith Higgin, LSE Press Office, +44 (0)20 7955 7582

Notes

After starting his teaching career at Oxford, Nick Stern went on to hold chairs at Warwick University and the Sir John Hicks Professor of Economics chair at LSE (1986-94), before becoming chief economist and special counsellor to the president at the European Bank for Reconstruction and Development (1994-99); then chief economist and senior vice president of the World Bank (2000-03). He was also director of policy and research for the Commission for Africa which reported in March 2005.

He has also taught and researched at the Massachusetts Institute of Technology, and in France, India, China and Japan and at the International Monetary Fund. His books include works on economic development, public finance, tax reform, the theory of economic growth, and the role of the state. He recently led a Review of the Economics of Climate Change which was published in October 2006.

The IG Patel Chair will hold the directorship of the LSE India Observatory, a dedicated research unit based at LSE's Asia Research Centre. The Chair and Observatory will be associated with the Departments of Economics and Government. The IG Patel Chair will also lead the Asia Research Centre.

The Asia Research Centre at LSE was co-founded by Professor Lord Meghnad Desai. Prime minister Manmohan Singh is an honorary fellow of the Centre. The Centre provides a platform for all Asia-related research and advises and consults with a wide range of national and international bodies on issues of international development, infrastructure and economic policy.

The Asia Research Centre has a long-standing research focus on India. Among a range of other sponsors, the Sir Ratan Tata Trust has been a supporter of the Centre for over a decade, generously providing funding for talented young Indian post-doctoral fellows to consolidate their research at the LSE in an international setting.

Building on these existing linkages, the LSE now expects the India Observatory to play a key role in progressing academic partnerships with India, to foster Indian academic talent, to promote a vibrant intellectual engagement between the UK, Europe and India, and to participate in wider international research networks with partners in Asia and beyond, as well as facilitating research training and graduate exchange. See www.lse.ac.uk/india|

Press cuttings

Globe and Mail, Canada
A climate-change message dressed in green pinstripes (20 Feb 07)
Article profiles Nicholas Stern, who will join LSE in the summer as the first IG Patel Chair. 

The Guardian
Stern refuses to be drawn on green taxes
(16 Jan 07)
The author of the government's report on climate change today refused to endorse the limited green taxes outlined by Gordon Brown in last month's pre-budget report. Sir Nicholas, due to take up a new academic post at the London School of Economics later this year, said it was crucial that the US, together with other developed counties, cut carbon emissions by between 60 per cent and 80 per cent by 2050. 

Times Europe Magazine
Nicholas Stern: Calculating the Cost Of Climate Change (17 Dec 06)
Article about Nicholas Stern, who was recently appointed as the first IG Patel Chair at the School. 

Times of India
Q&A: 'Rich countries should bear emissions burden' (15 Dec 06)
An interview with Nicholas Stern, author of the Stern Review on the Economics of Climate Change and the first person to occupy the newly constituted I G Patel Chair at the School.

Mortgage Strategy
All change for Sir Nicholas (11 Dec 06)
Sir Nicholas Stern will be stepping down as head of the Government Economic Service next March to take up a position at the London School of Economics. Stern has accepted the IG Patel professorship. He will take up his post in June 2007, becoming the first holder of this chair.

The Age, Australia
UK climate guru set to walk out (11 Dec 06)
Sir Nicholas, 60, will leave [the Treasury] in March to take a chair at the London School of Economics.  Also in Freshinfo

Times of India
LSE plans to set up research centre in India (11 Dec 06)
The London School of Economics has an India connection which is not known to many. In 1912, industrialist Sir Ratan Tata donated a huge sum of money to the LSE to fund research on the causes of poverty and ways to alleviate it. 

Gulf Times, Qatar
Rise of Asia to alter global balance: PM (11 Dec 06)

Business Standard, India
Brace for Asia's rise: PM to West (11

The Guardian
Labour has sped along the American highway but we would be happier taking Europe's gentler path
(11 Dec 06)
Article refers to Sir Nicholas Stern who is leaving the Treasury to become the first IG Patel Chair at LSE. 

Financial Times
Sir Nicholas takes new LSE chair
(7 Feb 06)

The Guardian
Environment: Climate change guru Stern becomes a professor (7 Dec 06) 

Guardian
Stern to step down (7 Dec 06) 

Telugu Portal
Nicholas Stern to head Indian Observatory at LSE (6 Dec 06)

The Times
Climate change author quits Treasury after Brown freezes him out (6 Dec 06) 

Business Standard, India
IG patel chair at london school of economics  (6 Dec 06)

ZeeNews, India
Accept rise of India, China: PM asks West  (6 Dec 06)
Addressing the London School of Economics Asia Forum here, Prime Minister Manmohan Singh said restructuring of United Nations and UN Security Council was as important as reforms in global trading regime.

Hindustan Times
SBI IPOs in next financial year 
(6 Dec 06)
The State Bank of India (SBI) is getting ready to mobilise equity funds through a public offer in the next financial year. 'For raising tier-1 capital, we are awaiting approval of the amendments to the SBI Act. We will not be able to do so before the next financial year,' SBI Chairman OP Bhat told reporters on the sidelines of the London School of Economics Asia Forum conference in the capital on Thursday. 

Money Control
SBI plans domestic float next year to fund growth  (6 Dec 06)
SBI plans to tap the domestic capital market next fiscal to fund its business growth, according to the Chairman, Mr OP Bhatt. Speaking to newspersons on the sidelines of the third Asia Forum, organised by the London School of Economics, Mr Bhatt said that the bank was awaiting Parliamentary nod to the proposed amendments in the State Bank of India Act before it goes about raising more tier-I capital.

The Hindu
SBI likely to tap market next fiscal  (6 Dec 06)

Times of India
Nicholas Stern set to resume his India study
(7 Dec 06)
British economist Nicholas Stern will return to India to study the economy and society in Palanpur village in Uttar Pradesh. LSE director, Howard Davies said Stern would return to study rural Indian economy under a new research programme called Indian Observatory of the London School of Economics and Political Science. 

Press Information Bureau, India
PM's address at LSE Asia Forum conference in memory of Dr IG Patel (7 Dec 06)
The Prime Minister, Dr Manmohan Singh, inaugurated a Conference of the London School of Economics Asia Forum in memory of Dr IG Patel, here today. Click link for full speech.

The Hindu News
SBI may enter equity market to raise Tier I capital (7 Dec 06)
State Bank of India today also entered into a memorandum of understanding with the Reserve Bank and LSE to establish an IG Patel Chair and an LSE India Observatory. The new Chair is named after I G Patel, the former governor of RBI, who was also the ninth director of LSE. The MoU was signed by LSE Director Howard Davies, Reserve Bank of India Governor YV Reddy and SBI Chairman OP Bhat. 

Reuters
Environment study author Stern to become professor (7 Dec 06)

India ahead of many in adapting to global warming (7 Dec 06)

PR Newswire 

Times of India
Nicholas Stern set to resume his India study
(7 Dec 06)
British economist Nicholas Stern will return to India to study the economy and society in Palanpur village in Uttar Pradesh. LSE director, Howard Davies said Stern would return to study rural Indian economy under a new research programme called Indian Observatory of the London School of Economics and Political Science. 

Press Information Bureau, India
PM's address at LSE Asia Forum conference in memory of Dr IG Patel (7 Dec 06)
The Prime Minister, Dr Manmohan Singh, inaugurated a Conference of the London School of Economics Asia Forum in memory of Dr IG Patel, here today. Click link for full speech.

The Hindu News
SBI may enter equity market to raise Tier I capital (7 Dec 06)
State Bank of India today also entered into a memorandum of understanding with the Reserve Bank and LSE to establish an IG Patel Chair and an LSE India Observatory. The new Chair is named after I G Patel, the former governor of RBI, who was also the ninth director of LSE. The MoU was signed by LSE Director Howard Davies, Reserve Bank of India Governor YV Reddy and SBI Chairman OP Bhat. 

Rediff News, India
'West must accept consequences of the rise of Asia' (7 Dec 06)
Prime Minister Manmohan Singh, who will travel to The Philippines for the ASEAN Summit next week, inaugurated the third London School of Economics Asia Forum at the Taj Palace Hotel, New Delhi, on 7 December. 

7 December 2006

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