Financial Transactions Tax : Panacea, Threat, or Damp Squib?
The authors argue that 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. They point out that, al...
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| Format: | Journal Article |
| Language: | en_US |
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World Bank
2013
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| Online Access: | http://hdl.handle.net/10986/13503 |
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okr-10986-13503 |
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okr-10986-135032021-04-23T14:03:08Z Financial Transactions Tax : Panacea, Threat, or Damp Squib? Honohan, Patrick Yoder, Sean asset price currency derivative derivative transactions derivatives equities gross domestic product international bank levy maturity maturity transformation mortgage mortgage-backed securities price volatility securities securities market securities transactions tax tax policy tax system The authors argue that 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. They point out that, 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. Accordingly, such taxes likely deliver both less revenue and less efficiency benefits than have sometimes been claimed by some. On the other hand, they may be less damaging than feared by others. 2013-05-21T17:40:19Z 2013-05-21T17:40:19Z 2011-07-02 Journal Article World Bank Research Observer 1564-6971 doi;10.1093/wbro/lkq006 http://hdl.handle.net/10986/13503 en_US World Bank Research Observer;26(2) CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ World Bank World Bank Journal Article America Latin America Belgium France Germany China, Hong Kong SAR Italy Netherlands Netherlands Singapore Sweden Switzerland United Kingdom UNITED STATES |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
en_US |
| topic |
asset price currency derivative derivative transactions derivatives equities gross domestic product international bank levy maturity maturity transformation mortgage mortgage-backed securities price volatility securities securities market securities transactions tax tax policy tax system |
| spellingShingle |
asset price currency derivative derivative transactions derivatives equities gross domestic product international bank levy maturity maturity transformation mortgage mortgage-backed securities price volatility securities securities market securities transactions tax tax policy tax system Honohan, Patrick Yoder, Sean Financial Transactions Tax : Panacea, Threat, or Damp Squib? |
| geographic_facet |
America Latin America Belgium France Germany China, Hong Kong SAR Italy Netherlands Netherlands Singapore Sweden Switzerland United Kingdom UNITED STATES |
| relation |
World Bank Research Observer;26(2) |
| description |
The authors argue that 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. They point out that, 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. Accordingly, such taxes likely deliver both less revenue and less efficiency benefits than have sometimes been claimed by some. On the other hand, they may be less damaging than feared by others. |
| format |
Journal Article |
| author |
Honohan, Patrick Yoder, Sean |
| author_facet |
Honohan, Patrick Yoder, Sean |
| author_sort |
Honohan, Patrick |
| title |
Financial Transactions Tax : Panacea, Threat, or Damp Squib? |
| title_short |
Financial Transactions Tax : Panacea, Threat, or Damp Squib? |
| title_full |
Financial Transactions Tax : Panacea, Threat, or Damp Squib? |
| title_fullStr |
Financial Transactions Tax : Panacea, Threat, or Damp Squib? |
| title_full_unstemmed |
Financial Transactions Tax : Panacea, Threat, or Damp Squib? |
| title_sort |
financial transactions tax : panacea, threat, or damp squib? |
| publisher |
World Bank |
| publishDate |
2013 |
| url |
http://hdl.handle.net/10986/13503 |
| _version_ |
1764423632706076672 |