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- Title
WHY ARE SECURITIES TRANSACTIONS TAXED? EVIDENCE FROM SWEDEN, 1909-91.
- Authors
Waldenström, Daniel
- Abstract
Investigates the private-interest and public-interest theories of regulatory change to analyze the politico-economic determinants of securities transaction taxation (STT), a fiscal tool that has been practised in most industrialized countries. Combining contrasting predictions from the two theories with political arguments used and a number of recorded economic facts from Swedish STT history during the entire 20th century, the author finds that the interest-group factors related to the relative strength of taxed and subsidized groups best explain the timing of STT changes. By contrast, the distortive and fiscally insignificant STT, and the other historical evidence, reject most arguments used to justify the government tax policy in a public-interest view.
- Publication
Financial History Review, 2002, Vol 9, Issue 2, p169
- ISSN
0968-5650
- Publication type
Article
- DOI
10.1017/S0968565002000136