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Financial Transaction Taxes

Stephany Griffith-Jones, Avinash Persaud

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Stephany Griffith-Jones, Financial Markets Program Director at IPD, and Avinash Persaud, Founder and Chairman of Intelligence Capital Limited, present this paper that examines the effects of a financial transactions tax on GDP, as well as potential FTT designs that minimize negative distortions.

About the Authors

Stephany Griffith-Jones
Financial Markets Program Director
Initiative for Policy Dialogue

Stephany Griffith-Jones is Financial Markets Program Director at IPD, as well as an economist whose areas of expertise include global capital flows to emerging markets and international financial reform; macro-economic management of capital flows in Latin America, Eastern Europe and sub-Saharan Africa; and international financial reform with special emphasis on regulation (Basel II, hedge funds and derivatives). Prior to joining IPD, Professor Griffith-Jones was Professorial Fellow at the Institute of Development Studies at University of Sussex and served as Senior Official at the United Nations Department of Economic and Social Affairs and the Economic Commission of Latin America (ECLAC), and as Head of International Finance at the Commonwealth Secretariat. She has acted as senior consultant to governments in Eastern Europe and Latin America and to many international agencies, including the World Bank, the Inter-American Development Bank, and the United Nations (especially UNDP and ECLAC). She began her career at the Central Bank of Chile and since then has published many articles and books including International Finance and Development with Jose Antonio Ocampo and Jan Kregel. She received the Association of Latin American Financial Institutions prize for best essay on Latin America's international finance.

Avinash Persaud
Founder and Chairman
Intelligence Capital Limited, Warwick Commission

Avinash Persaud is Executive Chairman of Intelligence Capital Limited, a financial advisory boutique; Chairman of Elara Capital PLC, an emerging market specialist; and Chairman of Paradise Beach Limited. He was formerly the managing director at State Street Bank & Trust and global head of currency and commodity research, J. P. Morgan. He is emeritus Professor, Gresham College; Senior Fellow, London Business School; Visiting Fellow, Cambridge University; Governor, London School of Economics; Member of Council, Royal Economics Society; and 2010 President of the Economics Section, British Association for the Advancement of Science. He was Chairman, Warwick Commission on Financial Regulation; Member, Pew Task Force to the US Senate Banking Committee, Member and Chairman of the Regulatory sub-committee of the UN Commission of Experts on Financial Reform and Member, International Task Force on Financial Transaction Taxes. He is a former Visiting Scholar of the IMF and ECB and Member of the UK Treasury’s Audit & Risk Committee. He is a Member of the National Council of Economic Advisors in Barbados.

Publication Information

Type Network Papers
Program -
Download 366kb pdf
Posted 02/08/12