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The Modern Currency Transactions Tax: Feasibility, revenues, and use of revenues

By Rodney Schmidt, Rodney Schmidt and Aniket BhushanUnited Nations, Development Programme, Rodney Schmidt and Aniket Bhushan

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

Topics: Currency transactions tax, Financial transactions tax, Innovative finance for development, Financing global public goods, Settlement systems. JEL classification, G2, H2, F3 The Human Development Research Paper (HDRP) Series is a medium for sharing recent
Year: 2011
OAI identifier: oai:CiteSeerX.psu:10.1.1.360.3088
Provided by: CiteSeerX
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