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

Patrick Honohan () and Sean Yoder

No 5230, Policy Research Working Paper Series from The World Bank

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.

Keywords: Debt Markets; Emerging Markets; Taxation&Subsidies; Banks&Banking Reform; Economic Theory&Research (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-acc, nep-ban and nep-pbe
Date: 2010-03-01
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Journal Article: Financial Transactions Tax: Panacea, Threat, or Damp Squib? (2011)
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