Anoop Rai

Professor of Finance Hofstra University

Long Island NY

Professor of Finance

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Spotlight

Nov 25, 2025

1 min

Government Plays Catch Up After End of Shutdown

Dr. Anoop Rai, professor of finance at Hofstra’s Frank G. Zarb School of Business, was interviewed by Newsday about the lasting economic impact of the recent federal government shutdown, the longest in the history of the United States. Dr. Rai told Newsday that the period of economic uncertainty caused by this latest shutdown is a “blip” and he expects a quick rebound as government spending resumes. “In the broad scheme of things, everything will come back to normal with a slight dip in [gross domestic production], but the question is — was it necessary?” he said. “The disruption the shutdown has caused should be measured in terms of the pain it has inflicted on a lot of people.”

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Biography

Professor Rai is a Professor of Finance at the Frank G. Zarb School of Business at Hofstra University in New York. He has been teaching corporate finance, financial institutions and international finance courses since 1988. Before joining the faculty at Hofstra, Dr. Rai taught as an assistant professor at the University of Vermont and as a graduate instructor at Indiana University.

He is the Director of the Center for International Financial Services and Markets. As Director, he organizes major conferences featuring government leaders, senior executives from corporations, and leading academics. He is also a visiting professor at the University of Curacao in Willemstad, Curacao.

His current research interest centers on international banking and financial markets. His articles have been published in the Journal of Banking and Finance, Journal of International Money and Finance, Journal of Economics and Business, Journal of Futures Markets, Journal of Financial Research Services, Journal of International Financial Markets, Institutions and Money, Financial Management and Journal of Risk and Insurance. He has presented papers at several national and international finance conferences.

Professor Rai serves as an Associate Editor of the Journal of Multinational Financial Management and is on the Advisory Board of the SSRN’s History of Finance eJournal. He is the author of the textbook “Principles of Banking: A Textbook to Accompany ProBanker,” (2020),” “Basic of International Business” (2nd edition), 2014, the Instructor’s Manual to Financial Institutions Management by Anthony Saunders (2nd Edition) 1996.

He has taught at several other institutions as a visiting or adjunct professor, including at the Rotterdam School of Management (The Netherlands), New York University (New York), University of Catania (in Sicily), Indian institute of Management Calcutta and the University of Curacao. He has conducted several seminars on risk management to bankers in the U.S. as well as from Russia, China and India.

Industry Expertise

Education/Learning

Financial Services

Business Services

Areas of Expertise

Corporate Finance

Financial Institutions

International Finance

Capstone Course

Financial Regulations

Dodd Frank

Education

Indiana University Bloomington

Ph.D.

International Business

1987

University of Notre Dame

M.B.A.

Finance

1980

Delhi University

B.A.

Economics

1977

Media Appearances

GameStop Stock Surge

Fox 5 NY tv

2021-01-29

Anoop Rai, PhD, professor of finance at the Zarb School of Business, was featured in a Fox 5 NY story examining the GameStop stock trading frenzy that has shaken financial markets and prompted an investigation by the US Securities and Exchange Commission.

The New Normal

Long Island Business News online

2020-03-20

Anoop Rai, a professor of finance at Hofstra University, pointed out that concerns over an H1N1 outbreak in 2009 didn’t cause the disruption many expected.

“Nobody’s talking about it anymore – people forgot about it once business got back to normal,” he said.

And with some countries turning around – China and South Korea, for example – the impact could mean less gloom and doom here.

Any “major disruption at the local level, I think will just be temporary,” he said.

Lehman Bros. collapse 10 years ago hit Long Island and the world

Newsday print

2018-09-17

Lehman “went aggressively into mortgage-backed securities without having a clue,” said Anoop Rai, a professor of finance at Hofstra University. Adding to the problem, it borrowed heavily, he said.

And when then-U.S. Treasury Secretary Hank Paulson was unable to sell Lehman, lenders declined to renew the loans the bank depended on, dooming the company, Rai said.

"It becomes a question of liquidity at that point,” he said. “If the market senses trouble, nobody is going to lend short term.”

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Articles

DODD-FRANK BILL -- A YEAR AND A HALF LATER: VIEWS FROM THE HEDGE FUND INDUSTRY

Frank G. Zarb School of Business and EisnerAmper LLP

March 2012

Among the key findings, hedge fund managers reported that Dodd-Frank rules driving increased transparency while increasing investor demand for information have been broadly positive for the industry. Due diligence process, risk management procedures and reporting requirements all have increased investor acceptance of hedge funds, allowing them to become increasingly mainstream investment vehicles for institutional and individual investors.

Large firms, in particular, seemed to welcome the additional scrutiny, with large majorities favoring SEC registration, the European Passport and a majority backing supervision from the Treasury and the Federal Reserve Bank.

The impact of discount rate changes on market interest rates: Evidence from three European countries and Japan

Journal of International Money and Finance

2007

This paper examines the impact of official discount rate (ODR) changes on market interest rates of four countries (Germany, France, Japan and the UK) during the period from 1980 through 1997. The overall results indicate that short-term rates are more responsive than long-term rates for all countries. The magnitude of the changes is country specific. Market rate responses are lower for Germany and Japan, which have fewer changes in ODR. These results are consistent with expectations that there is less uncertainty under such regimes. Consistent with the pace of regulatory reforms, the results of ODR changes are strongest in UK and weakest in Japan. When monetary policy is changed or reversed, interest rate responses are shown to be larger for countries with frequent changes in discount rates.