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Financial Transactions Taxes

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  • Parthasarathi Shome

    ()
    (Indian Council for Research on International Economic Rela)

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    Abstract

    This paper attempts to address both theoretical and practical considerations for a tax such as financial transactions taxes (FTT). It includes examples of FTT in the wider context, for example, on stocks and derivatives, currency transactions, and tangible property. Most of the discussion centres on financial market issues to reflect the thrust of current discussion and debate. What is found is that assumptions and commensurate analysis about how financial markets function drive the final views and - 73 - outcomes over FTT. A roadblock, that a clear understanding or explanation of the range of behaviours in financial markets is incomplete and imprecise, remains. However, globally, FTT remains a commonly used tax. A cross-country comparison is provided. It reveals, however, that FTT is often used as a temporary instrument.

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    Bibliographic Info

    Paper provided by Indian Council for Research on International Economic Relations, New Delhi, India in its series Indian Council for Research on International Economic Relations, New Delhi Working Papers with number 254.

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    Length: 23 Pages
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    Handle: RePEc:ind:icrier:254

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    Related research

    Keywords: Capital Inflows; Derivatives; Economic Efficiency; Financial Assets; Fiscal Stimulus; Stock Market Transactions Costs; Taxes; Volatility;

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    1. Hau, Harald, 2002. "The Role of Transaction Costs for Financial Volatility: Evidence from the Paris Bourse," CEPR Discussion Papers 3651, C.E.P.R. Discussion Papers.
    2. James Tobin, 1978. "A Proposal for International Monetary Reform," Cowles Foundation Discussion Papers 506, Cowles Foundation for Research in Economics, Yale University.
    3. Badi Baltagi & Dong Li & Qi Li, 2006. "Transaction tax and stock market behavior: evidence from an emerging market," Empirical Economics, Springer, vol. 31(2), pages 393-408, June.
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