The Tobin Tax: Coping with Financial Volatility

. Ed(s): Haq, Mahbub Ul; Kaul, Inge (Director of the Office of Development Studies, United Nations Development Programme, USA); Grunberg, Isabelle

ISBN 10: 019511180X / ISBN 13: 9780195111804

Published by OUP USA, 1996

About this Item

This guide to coping with financial volatility should be of interest to academics and economists with interest in finance and international development. Editor(s): Haq, Mahbub Ul; Kaul, Inge (Director of the Office of Development Studies, United Nations Development Programme, USA); Grunberg, Isabelle. Num Pages: 336 pages, line figures, tables. BIC Classification: KCL; KFFD1. Category: (P) Professional & Vocational. Dimension: 242 x 163 x 27. Weight in Grams: 629. . 1996. Illustrated. hardcover. . . . . Books ship from the US and Ireland.

Seller Inventory # V9780195111804

Bibliographic Details

• Title: The Tobin Tax: Coping with Financial Volatility
• Publisher: OUP USA
• Publication Date: 1996
• Language: English
• ISBN 10: 019511180X
• ISBN 13: 9780195111804
• Binding: Hardcover
• Condition: New

About this title

Synopsis

In his 1972 Janeway Lectures at Princeton, James Tobin, the 1981 Nobel Prize winner for economics, submitted a proposal for a levy on international currency transactions. The idea was not greeted with enthusiasm, as the 1970s were a period of optimism and confidence in floating exchange rages. Yet, whenever currency crises erupted during the past decades, the proposal for a levy on international currency transactions would once again arise. In the 1990s, two additional facts have sharpened interest in the Tobin tax proposal. First is the growing volume of foreign exchange trading. Second, interest is coming not only from policymakers and experts concerned with the smooth functioning of financial markets. It is shared by those concerned with public financing of development--the fiscal crisis of the state as well as the growing need for international cooperation on problems such as the environment, poverty, peace and security.

This work makes a systematic analysis of the proposal for a foreign exchange transactions levy. Its chapters examine the economic desirability of such a levy, its technical and political feasibility, its revenue potential, the possible uses of that revenue, and related administrative and institutional aspects.

About the Author

Mahbub ul Haq is at Human Development Center, Islamabad. Inge Kaul is at United Nations Development Programme, NY.