Marijuana liberalization and public finance: A capital market perspective on the passage of medical use laws

We find that the staggered passage of state-level laws that legalize marijuana for medical use increases states' borrowing costs by 7–9 basis points. Consistent with economic theory on substance use suggesting that marijuana legalization increases local consumption of the drug (by expanding its...

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Bibliographic Details
Main Authors: CHENG, Stephanie F., DE FRANCO, Gus, LIN, Pengkai
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2023
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Online Access:https://ink.library.smu.edu.sg/soa_research/1970
https://ink.library.smu.edu.sg/context/soa_research/article/2997/viewcontent/1_s2.0_S0165410122000398_main.pdf
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Institution: Singapore Management University
Language: English