Revisiting the Tobin Tax, in the Context of Development and the Financial Crisis

Yates Nicholas A

The Law and Development Review, 2009, vol. 2, issue 1, 257-282

Abstract: In the climate of a global financial crisis the problem of financial stability is particularly potent, especially given the difficulties faced around the world in both developed and developing countries. A defence for future crises alongside a means of improving global development problems could possibly be found in the oft-debated Tobin tax. Furthermore, it is shown that the possibilities for global improvement as a result of such a move are too important to be disregarded without proper consideration. As a result of extensive research of the arguments surrounding the tax, it is suggested that the time is ripe for a re-evaluation of Professor Tobin's suggestion.

Keywords: Tobin tax; development; global financial crisis; global recession; foreign currency exchange; currency transactions; Spahn tax (search for similar items in EconPapers)
Date: 2009
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DOI: 10.2202/1943-3867.1039

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