A SECURITIES TRANSACTIONS TAX AND CAPITAL MARKET EFFICIENCY

Paul Kupiec

Contemporary Economic Policy, 1995, vol. 13, issue 1, 101-112

Abstract: 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.

Date: 1995
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