In times of ever-rising health expenditures it is becoming more and more obvious that conventional models for funding health care are increasingly experiencing difficulties in meeting up this challenge. The concept of Medical Savings Accounts (MSAs) represents an innovative and so far rarely...

We created experimental variation across local markets in China in the share of firms having access to a new loan product, to measure the direct and indirect effects of access to finance. We find that: (1) Access to finance had a large positive direct effect on the performance of treated firms....

From 2000 to 2015 there was a large increase in U.S. dollar debt issues by Chinese firms. Financial policy makers have been concerned about potentially serious negative consequences from this rapid growth in foreign currency corporate debt. We first observe that the average growth rate of these...