Financial Transactions Taxes

Financial transactions taxes have recently gained attention as a possible means to influence the behavior of financial markets and to reduce destabilizing capital flows. One variation is a tax on all foreign currency conversions, often termed a "Tobin tax." This paper suggests that these t...

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Main Author: Stotsky, Janet Gale
Other Authors: Shome, Parthasarathi
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1995, 1995
Series:IMF Working Papers; Working Paper
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Summary:Financial transactions taxes have recently gained attention as a possible means to influence the behavior of financial markets and to reduce destabilizing capital flows. One variation is a tax on all foreign currency conversions, often termed a "Tobin tax." This paper suggests that these taxes would probably not produce the desired effects and would be difficult to design and implement. It is unclear that the possible advantages in reducing some short-term speculative trading would outweigh the possible disadvantages in impairing the efficiency of financial markets. From an administrative perspective, without a broad international consensus and application, these taxes are likely to be easily avoided
Physical Description:20 p.
ISBN:1451849958
9781451849950