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The Currency Transactions Tax: Feasibility, revenue estimates, and potential use of revenues

Author

Listed:
  • Rodney Schmidt

    (North-South Institute, Ottawa)

  • Aniket Bhushan

    (North-South Institute, Ottawa)

Abstract

Re-visiting research begun a decade ago, we examine the design and implementation of a modern currency transaction tax, the original financial transaction or Tobin tax. We show how a feasible CTT can be collected, and we estimate CTT revenues and market impact based on alternative tax rates. We survey the potential uses for these new revenues, and propose allocation mechanisms. Finally, we estimate the new and additional resources that would likely become available for financing the provision of global public goods.

Suggested Citation

  • Rodney Schmidt & Aniket Bhushan, 2011. "The Currency Transactions Tax: Feasibility, revenue estimates, and potential use of revenues," Human Development Research Papers (2009 to present) HDRP-2011-09, Human Development Report Office (HDRO), United Nations Development Programme (UNDP).
    • Handle: RePEc:hdr:papers:hdrp-2011-09
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    File URL: http://hdr.undp.org/en/reports/global/hdr2011/papers/HDRP_2011_09.pdf
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    Cited by:

    1. Undp, 2011. "HDR 2011 - Sustainability and Equity: A Better Future for All," Human Development Report (1990 to present), Human Development Report Office (HDRO), United Nations Development Programme (UNDP), number hdr2011, September.

    More about this item

    Keywords

    Currency transactions tax; Financial transactions tax; Innovative finance for development; Financing global public goods; Settlement systems;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • F3 - International Economics - - International Finance

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