Forbes, Kristin J., 2002, “One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms,” MIT-Sloan Working Paper No. 4273-02. (Cambridge, Massachusetts: Massachusetts Institute of Technology).
Jones, Charles M., 2001, “A Century of Stock Market Liquidity and Trading Costs,” paper presented at the NBER Summer Institute, Cambridge, Massachusetts.
Organization for Economic Cooperation and Development, 2002, “Exchange Market Volatility and Securities Transaction Taxes,” Chapter 8 in OECD Economic Outlook (Paris: OECD).
United Nations, 2001, “Technical Note No. 3: Existing Proposals for Innovative Sources of Finance,” part of Financing for Development process, New York, October.
Kristin J. Forbes is an Associate Professor and the Mitsubishi Career Development Chair of International Management in the Sloan School of Management at the Massachusetts Institute of Technology.
OECD (2002). Calculations are based on an average daily trading volume of $1.25 trillion over 240 trading days per year.
For example, the Taiwanese government projected that revenues from its STT of 0.3 percent would equal about NT$80 billion (Taiwan Economic News, 2001).