A Securities Transactions Tax And Capital Market Efficiency
This paper revisits the debate on the securities transaction tax (STT). The analysis uses Tobin's (1984) taxonomy of financial market efficiency to examine the potential effects of such a tax and concludes that a STT probably would not enhance the overall functioning of financial markets. Copyright 1995 Western Economic Association International.
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Volume (Year): 13 (1995)
Issue (Month): 1 (01)
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