Marie Michael Library

Global tax initiatives: the movement for the currency transaction tax

Patomaki, Heikki

The currency transaction tax (CTT), first proposed in 1972, is the idea of a tax levied on every currency exchange, set low enough not to hinder transactions or long-term investments. This paper explores the causes of the development of both the transnational campaign for the CTT and the related worldwide movements and networks. It looks at the conditions of success of different strategies for global regulatory change and consequently, what models for the CTT, and strategies to realize them, are feasible, and what effects would they have?