International Conference on Eurasian Economies
1-3 July 2014 – Skopje, MACEDONIA
Paper detail
Paper ID : 883
Status : Paper published
Language : English
Topic : Finance and Financial Crises
Presenter: Ph.D. candidate Rahime Hülya Öztürk
Session : 5A Macroeconomics
Tobin Tax in Reducing the Negative Effects of Capital Controls and Short Termed Capital Movements
Tobin Tax in Reducing the Negative Effects of Capital Controls and Short Termed Capital Movements
- Ph.D. candidate Rahime Hülya Öztürk (Selçuk University, Türkiye)
- Prof. Dr. Zeynep Karaçor (Selçuk University, Türkiye)
- Asst. Prof. Dr. Perihan Hazel Kaya (Selçuk University, Türkiye)
Abstract
The phenomenon liberalization, with the influence of Bretton Woods system that collapsed, following 1970 Oil Shock, first began with the efforts to search for the markets to value the investments of these countries in the developed countries. When arrived to 1980s, the developed countries, squeezed under the debt load accompanying the insufficient capital accumulation and low saving rates, in order to provide the desired capital figures, needed the foreign resources and, in this point, liberalization process of capital gained importance In realizing the growth and developmental targets of country economies, their integrating to liberalization process have a great importance. That the developing counties integrate to the system without the necessary arrangement in their financial structures made an effect in the direction of disturbing the stability of country economies, particularly in short termed capital inflows. As much as the problem created by the speculative capital inflow, the immediate outflow of this capital, disordering the balance of country economies, also caused crises. For maiming the negative influences of short termed capital, capital controls are emphasized. Just as these controls can have the various application ways, the most emphasized and discussed application was Tobin tax. Even though there are the various disagreements in the direction of whether or not Tobin tax affected the capital inflows, the examples of Malaysia and Chili gave the successful results.
JEL codes: B22, B26
Öztürk, Rahime Hülya, Karaçor, Zeynep, Kaya, Perihan Hazel (2014). "Tobin Tax in Reducing the Negative Effects of Capital Controls and Short Termed Capital Movements" in Proceedings of International Conference of Eurasian Economies 2014, pp.182-188, Skopje, MACEDONIA.
DOI: https://doi.org/10.36880/C05.00883
