Using high-frequency panel data for Indonesian provinces, we find that financial activities are associated with slower growth rates of productivity and output per capita. In particular, bank credit alone appears to inhibit growth more than the impact of credit and financial savings combined....

This article examines the lending decisions of Korean banks after they acquire loan portfolios from failed banks. We find that a firm's pre-existing relationships positively affect the continuation of those relationships, and that pre-existing relationships negatively impact increases in loan...

This article examines Medicaid preferred drug lists (PDLs), a cost-containment tool that designates specific drugs for use by Medicaid beneficiaries. We develop an empirical model to measure the direct and spillover effects of Medicaid PDL across Medicaid, cash and third-party payer markets; and...