A Compound Tobin Tax: A Political Economy Investigation
Published version
Peer-reviewed
Repository URI
Repository DOI
Change log
Authors
Arestis, Philip https://orcid.org/0000-0001-8729-4846
Karagiannis, N
Abstract
jats:pThe paper focuses on international tax proposals and analyzes rationales and challenges for adopting a com-pound global tax. It is proposed here that such a compound global tax instrument would mainly need to focus on two tiers. The one, based on the U.S. President Joe Biden?s 2021 suggestion, would need to close off tax avoidance and tax evasion possibilities for large multinational and transnational corporations; and the other, based on the James Tobin?s 1972-tax proposal, would seek to eliminate the speculative dimension of international foreign exchange dealings. These tiers are discussed extensively in this contribution, concluding with the suggestion that policy coordination is paramount.</jats:p>
Description
Keywords
International financial instability, Financialization, Multinational corporations, Tobin tax, Policy coordination
Journal Title
Panoeconomicus
Conference Name
Journal ISSN
1452-595X
2217-2386
2217-2386
Volume Title
Publisher
National Library of Serbia
Publisher DOI
Sponsorship
None