The staggered passage of state medical marijuana laws increases state bonds' offering and trading spreads by 7-11 basis points. Consistent with medical marijuana laws causing an increase in states' credit risk, states incur higher safety and public welfare expenditures and experience greater...

Chapter One: The concept of “big finance” and the national policy of a strong RMB - A policy study of the top-level design and layout of Chinese finance -- Chapter Two: The “twin-peak” model for financial regulation - A review of financial regulatory and coordinating measures in China --...