Narrow Your Choices

Refine By Type

Refine By Countries

Refine By Topic

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Search Results

You are looking at 1 - 2 of 2 items for :

  • "STTS gain sponsorship" x
Clear All
Cover IMF Staff Papers
IMF Staff Papers, Volume 50, Special Issue, IMF Third Annual Research Conference
Mr. Robert P Flood
The paper discusses a model in which growth is a negative function of fiscal burden. Moreover, growth discontinuously switches from high to low as the fiscal burden reaches a critical level. The paper provides an overview of key elements of corporate bankruptcy codes and practice around the world that are relevant to the debate on sovereign debt restructuring. It also describes the broad trends in international financial integration for a sample of industrial countries and explains the cross-country and time-series variation in the size of international balance sheets.
Keywords:
SP; risk premium; STT.; portfolio; portfolio equity assets; STTS shift; output space; emerging market crisis; portfolio equity gain; exchange rate depreciation; STTS gain sponsorship; Sovereign debt restructuring; Stocks; Debt restructuring; Foreign assets; Corporate insolvency; Global; East Asia; Sub-Saharan Africa; Europe; North America
Cover IMF Staff Papers
Comment on “Securities Transaction Taxes and Financial Markets”
Mr. Robert P Flood

negative effects of STTs are convincing, the conclusions are so one-sided and clear that a reader can’t help but wonder: What am I missing? If STTs have so many substantial costs, yet no real benefits, why do so many countries use them? Why are different variants of STTs (such as the Tobin tax) frequently raised in international forums? Why do they garner so much support from a variety of groups? Although the authors briefly allude to several reasons why STTs gain sponsorship, some of these arguments merit further exploration before being dismissed so quickly. In

Keywords:
SP; risk premium; STT.; portfolio; market liquidity; cost of STTS; STTS in the United States; adoption of an STT; STTS in a range; Asset prices; Financial transaction tax