Financial Transactions Tax [electronic resource] : Panacea, Threat, Or Damp Squib ? / Yoder, Sean
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TextPublication details: Washington, D.C., The World Bank, 2010Description: 1 online resource (37 p.)Subject(s): Banking assets | Banks & Banking Reform | Currency | Debt Markets | Derivative | Derivative transactions | Economic efficiency | Economic Theory & Research | Emerging Markets | Equities | Finance and Financial Sector Development | Financial assets | Financial system | Fiscal deficits | Government policy | Gross domestic product | International bank | Macroeconomics and Economic Growth | Market failures | Private Sector Development | Reserve | Reserve requirements | Securities | Securities transactions | Tax | Taxation & Subsidies | Transaction | TransparencyAdditional physical formats: Yoder, Sean.: Financial Transactions Tax.Online resources: Click here to access online 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.
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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.
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