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Financial transactions tax : panacea, threat, or damp squib ?

Author:	Honohan, Patrick; Yoder, Sean;	Collection Title:	Policy Research working paper ; no. WPS 5230
Country:	World;	Date Stored:	2010/03/02
Document Date:	2010/03/01	Document Type:	Policy Research Working Paper
Language:	English	Region:	The World Region
Report Number:	WPS5230	SubTopics:	Emerging Markets; Economic Theory & Research; Debt Markets; Banks & Banking Reform; Taxation & Subsidies
Volume No:	1 of 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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