Attac und die Tobin-Tax
In: Ossietzky: Zweiwochenschrift für Politik, Kultur, Wirtschaft, Band 4, Heft 22, S. 763-765
ISSN: 1434-7474
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In: Ossietzky: Zweiwochenschrift für Politik, Kultur, Wirtschaft, Band 4, Heft 22, S. 763-765
ISSN: 1434-7474
In: Widerspruch: Beiträge zu sozialistischer Politik, Band 19, Heft 38, S. 39-42
ISSN: 1420-0945
In: Widerspruch: Beiträge zu sozialistischer Politik, Band 19, Heft 38, S. 218-218
ISSN: 1420-0945
High volatility and enormous international capital flows are negative effects of the globalization of financial markets that can lead to financial crises like those of the 1990s. The Tobin tax often has been put forward as a measure to diminish globalization risks since it is claimed to discourage short-term speculation. The arguments of the proponents of this transactions tax are based on the assumption that (i) short-term trading is destabilizing and speculative and causes the volatility to increase, (ii) the Tobin tax does discourage this speculation and (iii) the Tobin tax causes market participants to orientate more by macroeconomic fundamentals. This paper suggests that these assumptions are quite questionable. Moreover, a Tobin tax of a sensible rate would be too small to protect countries from currency fires and would generate only little monetary autonomy. In addition to theoretical economic doubts there arise some political problems, which can make the tax to become infeasible.
BASE
In: The federalist debate: papers for federalists in Europe and the world = ˜Leœ débat fédéraliste : cahiers trimestriels pour les fédéralistes en Europe et dans le monde, Band 13, Heft 1, S. 33-34
ISSN: 1591-8483
In: Development in practice, Band 7, Heft 2, S. 140-147
ISSN: 0961-4524
WOS: 000449720400009 ; Tobin Tax and its derivative applications have started to be discussed again in many platforms as the issue regarding taxation of short-term capital movements has become an agenda among international communities such as European Union (EU) and G20 since the beginning of 2000s. In this study, Tobin Tax, which is the first significant step towards taxation of foreign currency transactions, has been discussed theoretically and considering its possible effects on application. Also, in this context, the initiatives of countries such as USA, Belgium, France and Austria regarding international implementation of Tobin Tax and its derivatives are being evaluated. The intended use of the taxes, determination of transactions exempt from tax and international cooperation in the implementation of taxation are possible problems that can be faced regarding Tobin Tax. In this study the conclusion, which the effects of Tobin Tax in developing and developed countries will be different but imposing such tax regarding cyclic balance of the world economy will be a positive improvement, has been reached.
BASE
In: Development in practice, Band 7, S. 140-147
ISSN: 0961-4524
In: Kurz und Knapp
In: Entwicklung braucht eine neue internationale Finanzordnung
In: The federalist debate: papers for federalists in Europe and the world = ˜Leœ débat fédéraliste : cahiers trimestriels pour les fédéralistes en Europe et dans le monde, Band 15, Heft 2, S. 22-24
ISSN: 1591-8483
In: The federalist debate: papers for federalists in Europe and the world = ˜Leœ débat fédéraliste : cahiers trimestriels pour les fédéralistes en Europe et dans le monde, Band 14, Heft 1, S. 17-19
ISSN: 1591-8483
In: World development: the multi-disciplinary international journal devoted to the study and promotion of world development, Band 26, Heft 3, S. 529-538
In: World development: the multi-disciplinary international journal devoted to the study and promotion of world development, Band 26, Heft 3, S. 529
ISSN: 0305-750X