Publication: Financial Transactions Tax : Panacea, Threat, or Damp Squib?
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2010-03-01
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2012-03-19
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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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“Honohan, Patrick; Yoder, Sean. 2010. Financial Transactions Tax : Panacea, Threat, or Damp Squib?. Policy Research working paper ; no. WPS 5230. © World Bank. http://hdl.handle.net/10986/3715 License: CC BY 3.0 IGO.”
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