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Financial transactions tax : panacea, threat, or damp squib ?, Volume 1
Author:Honohan, Patrick; Yoder, Sean; Country:World;
Date Stored:2010/03/02Document Date:2010/03/01
Document Type:Policy Research Working PaperSubTopics:Debt Markets; Emerging Markets; Taxation & Subsidies; Banks & Banking Reform; Economic Theory & Research
Language:EnglishRegion:The World Region
Report Number:WPS5230Collection Title:Policy Research working paper ; no. WPS 5230
Volume No:1  

Summary: Attempts to raise a significant percentage of gross domestic product in revenue from a broad-based financial transactions tax are likely to fail both by raising much less revenue than expected and by generating far-reaching changes in economic behavior. Although the side-effects would include a sizable restructuring of financial sector activity, this would not occur in ways corrective of the particular forms of financial overtrading that were most conspicuous in contributing to the crisis.

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