Marijuana liberalization and public finance: A capital market perspective on a public health policy

This paper provides the first evidence on an unmentioned cost of U.S. medical marijuana liberalization imposed by investors in the capital market. It shows that the staggered passage of state medical marijuana laws increases state bonds' offering and trading spreads by 7-11 basis points. Consis...

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Bibliographic Details
Published in:Policy File 2020
Main Authors: De Franco, Gus, Cheng, Stephanie, Lin, Pengkai
Format: Report
Language:English
Subjects:
Capital
Capital markets
Corruption
Credit risk
Cultivation
Decriminalization
Demographic transition theory
Demography
Drugs
Economic theory
Health care expenditures
Health care policy
Investors
Law
Liberalization
Marijuana
Markets
Public finance
Public health
Substance abuse
Welfare
Online Access:Request full text
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