Taxation of financial intermediation: measurement principles and application to five African countries

Christophe Chamley and Patrick Honohan

No 421, Policy Research Working Paper Series from The World Bank

Abstract: The purpose of this study is to set out a practical method for analyzing how inflation, interest ceilings, reserve requirements and like impositions have had tax-like effects and how they can be compared with explicit taxes. Using this method estimates of the varying magnitudes of the total taxation of financial intermediation in five African economies during recent years are computed. The paper explores the macroeconomic and fiscal dynamics which have contributed to the use of heavy taxation on the financial sector in certain countries and for certain periods. The likely impact of these taxes on efficiency is also examined.

Keywords: Economic Theory&Research; Banks&Banking Reform; Environmental Economics&Policies; Public Sector Economics&Finance; Insurance&Risk Mitigation (search for similar items in EconPapers)
Date: 1990-05-31
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Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:wbk:wbrwps:421

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