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The Currency Transactions Tax: Feasibility, revenue estimates, and potential use of revenues

Rodney Schmidt () and Aniket Bhushan ()
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Rodney Schmidt: North-South Institute, Ottawa
Aniket Bhushan: North-South Institute, Ottawa

No HDRP-2011-09, Human Development Research Papers (2009 to present) from Human Development Report Office (HDRO), United Nations Development Programme (UNDP)

Abstract: Re-visiting research begun a decade ago, we examine the design and implementation of a modern currency transaction tax, the original financial transaction or Tobin tax. We show how a feasible CTT can be collected, and we estimate CTT revenues and market impact based on alternative tax rates. We survey the potential uses for these new revenues, and propose allocation mechanisms. Finally, we estimate the new and additional resources that would likely become available for financing the provision of global public goods.

Keywords: Currency transactions tax; Financial transactions tax; Innovative finance for development; Financing global public goods; Settlement systems (search for similar items in EconPapers)
JEL-codes: G2 H2 F3 (search for similar items in EconPapers)
Pages: 48 pages
Date: 2011-11
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Published as background research for the 2011 Human Development Report.

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Persistent link: https://EconPapers.repec.org/RePEc:hdr:papers:hdrp-2011-09

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