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

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  • Honohan, Patrick
  • Yoder, Sean

Abstract

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.

Suggested Citation

  • Honohan, Patrick & Yoder, Sean, 2010. "Financial transactions tax : panacea, threat, or damp squib ?," Policy Research Working Paper Series 5230, The World Bank.
  • Handle: RePEc:wbk:wbrwps:5230
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    Cited by:

    1. Rafael Aigner & Felix Bierbrauer, 2015. "Boring Banks and Taxes," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2015_07, Max Planck Institute for Research on Collective Goods.
    2. European Commission, 2010. "Innovative Financing at a Global Level," Taxation Papers 23, Directorate General Taxation and Customs Union, European Commission.
    3. European Commission, 2010. "Financial Sector Taxation," Taxation Papers 25, Directorate General Taxation and Customs Union, European Commission.

    More about this item

    Keywords

    Debt Markets; Emerging Markets; Taxation&Subsidies; Banks&Banking Reform; Economic Theory&Research;
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