Bibliography - Best Sources on Financing Alternatives, and Tobin Taxes

Publications and Resources

Books:

The Tobin Tax: Coping with Financial Volatility, (1996) Mahbub ul Haq, Inge Kaul, and Isabelle Grunberg, eds. New York, London: Oxford University Press.

The United Nations: Policy and Financing Alternatives: Innovative Proposals by Visionary Leaders, (1995) Harlan Cleveland, Hazel Henderson, and Inge Kaul. New York: Apex Press. (Also available in Futures, Vol. 27 No. 2, March 1995.)

Good Taxes: The case for taxing foreign currency exchange and other financial transactions, (1997). Alex C. Michalos, New York: Duncan Press.

Taming Global Financial Flows: A Citizen's Guide, (2000). Kavaljit Singh, New York: St Martin's Press, Inc.

Globalization of Finance: A Citizens' Guide, (1999). Kavaljit Singh, Zed Books.

Global Public Goods: International Cooperation in the 21st Century, (1999). Inge Kaul, Isabelle Grunberg, and Marc A. Stern, New York: Oxford University Press.

Finance for Sustainable Development: The Road Ahead, (1997). United Nations Department for Policy Coordination and Sustainable Development, Division for Sustainable Development (Conference Proceedings of the Fourth Group Meeting on Finaccial Issues of Agenda 21, Santiago, Chile). New York: United Nations publication.

Panic Rules: Everything you need to know about the global economy, (1999). Robin Hahnel, Massachusetts: South End Press.

Market-Oriented Society, Democracy, Citizenship and Solidarity: an Area of Confrontation?, (1999). Conference Proceedings, 31 May-1 June 1999, Council of Europe Parliamentary Assembly, Strasbourg: Council of Europe Publishing.

Our Global Neighborhood: The Report of the Commission on Global Governance, (1995). New York: Oxford University Press.

Issues in Global Governance: Papers Written for the Commission on Global Governance, (1995). London: Kluwer Law International.

The Hague Report: Sustainable Development, from Concept to Action, (1992) Jan Pronk and Mahbub ul Haq, available through the United Nations Conference on Environment and Development (UNCED).

International Public Finance, (1992). Ruben P. Mendez, New York: Oxford University Press.

NGO (Non-governmental Organizations) Studies and Reports:

Broederlijk Delen, "A Tax on Financial Speculation Background Paper", (Bart Bode) Brussels, (March 2000).

Canadian Centre for Policy Alternatives, "The Tobin Tax on International Monetary Transactions", (Interview with Dr. James Tobin) (September 1995).

CAFOD, "Capital Punishment: Making International Finance Work for the World's Poor",(Written by Duncan Green) 1-39 (September 1999).

CIDSE, Report of a Consultation held by CIDSE in collaboration with the University of Antwerp, "A Tax on Foreign-Exchange Transactions" (Anthony Clunies) 1-16. Antwerp, Belgium (March, 2000).

International Cooperation for Development and Solidarity (CIDSE), Justice and Peace Europe, Background paper, "Taxing Excessive Currency Speculation to Prevent Social Crisis and Finance Global Challenges- A Proposal for Discussion", (Dr Danny Cassimon) 1-23 (January 1999).

Christian Aid, "Pennies from Seven: Seven Ways the Group of Seven Can Help the Third World", http://www.oneworld.org/christian_aid/caid_pennies.html (June 1995).

Halifax Initiative, "Control Options for International Currency Speculation" (December 1996).

Interhemispheric Resource Center and Institute for Policy Studies, "International Financial Flows", Foreign Policy in Focus, Vol. 3, No. 41 (December 1998).

Interhemispheric Resource Center and Institute for Policy Studies, "Repairing the Global Financial Archtecture", Foreign Policy in Focus, Special Report (September 1999).

Interhemispheric Resource Center and Institute for Policy Studies, "IMF Bailouts and Global Financial Flows", Foreign Policy in Focus, Vol. 3, No. 5 (March 1999).

International Forum on Globalization Task Force, "Beyond the WTO, Alternatives to Economic Globalization", A Preliminary Report (April 1998).

Institute for Policy Studies, "Bearing the Burden: The Impact of Global Financial Crisis on Workers and Alternative Agendas for the IMF and Other Institutions", 1-26 (April 2000).

Network Institute for Global Democratization (NIGD), "The Tobin Tax: How to Make it Real- Towards a Socially Responsible and Democratic System of Global Goverance. Ulkopoliittinen Instituutti (UPI) Working Paper No. 13 (1999).

Oxfam Great Britian, "Time for a Tobin Tax? Some practical and political arguments", Discussions Paper (Compiled by Heinz Stecher), http://www.oxfam.org.uk/policy/papers/tobintax/tobintax.htm (May 1999).

War on Want Campaign Against World Poverty, "The Global Gamblers: British Banks and the Foreign Exchange Game", London: Fenner Brockway House (Helen Hayward) (1999).

Government Studies, Reports, Resolutions:

European Parliament, Ben Patterson and Mickäl, "The Feasibility of an International Tobin Tax", Directorate General for Research, Working Paper: Economic Affairs Series, ECON 107 EN, 1-36, European Parliament L-2929 Luxembourg (March 1998).

Federal Reserve Bank of SF, Kenneth Kasa, "Time for a Tobin Tax?" Federal Reserve Bank of San Francisco Economic Letter, No. 99-12 (April 9, 1999).

International Monetary Fund External Relations Department, "Communiqué' of the Interim Committee of the Board of Governors of the International Monetary Fund", Press Release No. 99/46 1-10 (September 26, 1999).

Netherlands, National Council for Development Cooperation (NAR). "International Funds for Cross-Border Problems: Looking for the Big Money", The Hague: NAR Recommendation, No. 107, 1-17 (August 1996).

United Nations Conference on Trade and Development, Andrew Cornford, "The Tobin Tax: Silver Bullet for Financial Volatility, Global Cash Cow or Both?", Geneva, Offprint UNCTAD Review 105-119 (1998).

United Nations Department of Economic and Social Affairs, Executive Committee on Economic and Social Affairs, "Towards a new international financial architecture", Task Force Report of the Executive Committee on Economic and Social Affairs of the United Nations, http://www.un.org/esa/coordination/ecesa/eces99-1.htm (January 21, 1999).

United Nations General Assembly, "Report of the Ad Hoc Open-ended Working Group of the General Assembly on Financing for Development", 2-7, General Assembly Official Records Fifty-fourth Session Supplement No. 28 (A/54/28) New York: United Nations (1999).

United Nations General Assembly, "Global Financial Flows and Their Impact on the Developing Countries", Resolution Adopted as Fifty-second Session Agenda Item 95 (a) (January 4, 1998).

Professional Journal Articles on the economic debate on Financial Issues Related to Tobin-style Taxes:
(These are economists on both sides of the issue of economic feasibility. These are listed in alphabetical order. Note: the debate below must additionally include the important articles found in the book Tobin Tax, listed above.)

Jagdish Bhagwati, "The Capital Myth: The Difference Between Widgits and Dollars", Foreign Affairs, Vol. 77, No. 3 (May/June 1998).

Patrick Bond, University of the Witwatersand Graduate School of Public and Development Management, "Global Financial crisis: -Why we should care, what we should do",

John Y. Campbell and Kenneth A. Froot, "International Experiences with Securities Transaction Taxes", National Bureau of Economic Research, Working Paper No. 4587 (1993).

Paul Davidson, "Are grains of sand in the wheels of international finance sufficient to do the job when boulders are often required?" Vol. 107, Economic Journal 671-686 (May 1997)

Kathryn M. Dominguez and Jeffrey A. Frankel, "Does Foreign Exchange Intervention Work?" Institute for International Economics, Washington D.C. (September 1993), 165pp.

Rudiger Dornbusch and Jeffrey Frankel, "The Flexible Exchange Rate System: Experience and Alternatives", National Bureau of Economic Research, Working Paper No. 2464 (December 1987).

John Eatwell, "International Financial Liberalization: The Impact on World Development", United Nations Development Programme Office of Development Studies Discussion Paper Series, (1996).

Barry Eichengreen, James Tobin and Charles Wyplosz, "Two cases for sand in the wheels of international finance." Vol. 105, Economic Journal 162-172 (May 1995). This study is also available through UC Berkeley, Center for International and Development Economics Research, Working Paper No. C94-45 (1994).

David Felix, "The Tobin Tax proposal: background, issues and prospects.", UNDP Working Paper #191 (June 1994)

David Felix, "Financial Globalization versus Free Trade: The Case for the Tobin Tax." UNCTAD Discussion Paper No. 108 (November 1995).

David Felix, "Financial Globalization and the Tobin Tax", Vol. 38, No. 3 Challenge 56-59, (May/June 1995)

Dietrich Fischer, Chapter 14 "A World Treasury" Economics of Conflict and Peace, 337-354 Aveburg Press, Brookfield, UT (1997).

Peter Garber and Mark P. Taylor, "Sand in the Wheels of Foreign Exchange Markets: A Skeptical Note", Economic Journal Vol. 105, 173-180 (January 1995)

Ilene Grabel, "Stock market, rentier interest, and the current Mexican crisis", Vol. 30, No. 2 Journal of Economic Issues, 443-449 (June 1996).

David Greenaway, "Policy Forum: Sand in the Wheels of International Finance; Editorial Note", The Economic Journal, 160-161 (January 1995).

Craig S. Hakkio, "Should we throw sand in the gears of financial markets?" Vol. 79, No.2 Economic Review 17-30, Federal Reserve Bank of Kansas City, (1994)

R. Glenn Hubbard, "Securities Transactions Taxes: Tax design, revenue, and policy considerations", Tax Notes 985-1000 (November 22, 1993)

Robert Johnson, "The Tobin Tax: another lost opportunity?" Vol. 7, No. 2, Development in Practice (May 1997).

Ruth Kelly, "Taxing the Speculator: the route to Forex stability", Fabian Society Discussion Paper No. 15 (May 1993)

Peter B Kenen, "Capital Controls, the EMS and EMU", The Economic Journal, 181-191 (January 1995).

Paul H. Kupiec, "A securities transactions tax and capital market efficiency", Vol. 13, No. 1, Contemporary Economic Policy 101-112 (January 1995)

Ruben P. Mendez, "Paying for peace and development", Foreign Policy 19 (September 22, 1995)

Ruben P. Mendez, "Harnessing the global foreign currency market: proposal for a foreign currency exchange", in Issues in Global Governance 425-441, papers written for the Commission on Global Governance (1995).

Alex C. Michalos, "A Handful of Sand in the Wheels of Financial Speculation*" Working Paper, University of Northern British Columbia. 1-28 (March 2000).

Dragoljub Najman and Hans d'Orville, "Towards a New Multilateralism: for Internationally Agreed Programs", 71pp, (May 1995). Paris/New York.

Shijuro Ogata, Paul Volcker, et al, "Financing an Effective United Nations: A Report of the Independent Advisory Group on U.N. Financing", Ford Foundation (April 1993).

OECD Discussion Draft, "Taxation of global trading of financial instruments" 97 TNI 31-21, Tax Notes International (February 14, 1997)

Thomas I. Palley, "Speculation and Tobin Taxes: Why Sand in the Wheels can Increase Economic Efficiency", Journal of Economics, Vol. 69, 113-126. American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), Technical Working Paper No. T015 (1999).

Thomas I. Palley, "Industrialized Country Financial Markets: The Missing Dimension in the Stabilizing Global Finance Debate", AFL-CIO, Economic Policy Paper No. E040 (November, 1999).

Thomas I. Palley, "The ABC's of Exchange Rates and the Case Against Currency Boards", AFL-CIO, Economic Policy Paper No. E037 (September, 1999).

Thomas I. Palley, "Toward a New International Economic Order", AFL-CIO, Economic Policy Paper No. E027 (September, 1999).

Thomas I. Palley, "Why a Global Currency Union with Fixed Exchange Rates Won't Work", AFL-CIO, Economic Policy Paper No. E023 (November, 1998).

Thomas I. Palley, "International Finance and Global Deflation: There is an Alternative", AFL-CIO, Economic Policy Paper No. E018 (1999).

Thomas I. Palley, "International Finance and the Problem of Capital Account Governance: A Blue Print for Reform", AFL-CIO, Economic Policy Paper No. E017 (December 1998).

Thomas I. Palley, "Bank Runs and Optimal Public Suspension of Payment: The Case for Temporary Use of Capital Controls", AFL-CIO, Technical Working Paper No. T028 (1999).

Thomas I. Palley, "Chilean Style Capital Controls as a Screening Mechanism: Some New and Surprising Findings", AFL-CIO, Technical Working Paper No. T027 (2000).

Anthony Clunies Ross, "Sustaining Revenue for Social Purposes in the Face of Globalization" (January 25th, 1999)

Rodney Schmidt, "A Feasible Foreign Exchange Transactions Tax", North-South Institute, Canada, 1-20 (March 1999).

G. William Schwert and Paul J. Seguin, "Securities transaction taxes: An overview of costs, benefits and unresolved questions", Vol. 49, No. 5 Financial Analysts Journal 27-35 (September/October 1993)

Parthasarathi Shome and Janet G. Stotsky, "Financial Transactions Taxes", 96 TNI 1-17, Tax Notes International (January 2, 1996)

Kavaljit Singh, "Tobin Tax: An Idea Whose Time Has Come", Economic and Political Weekly 1019-1020 (May 1, 1999).

Kavaljit Singh, "Capital Controls, State Intervention and Public Action in the Era of Financial Globalization", PIRG Occasional Paper No. 4, India (1998).

Paul Bernd Spahn, "International Financial Flows and Transactions Taxes: Survery and Options", International Monetary Fund Working Paper WP/95/60, (June 1995)

Paul Bernd Spahn, "The Tobin Tax and Exchange Rate Stability", Finance and Development, Vol. 33, No. 2, 24-27 (June 1996)

Eleanor B. Steinberg and Joseph A. Yager, "New Means of Financing International Needs: Possible Sources of Finance", 18-46 (1978). Washington D.C.: The Brookings Institution.

Eleanor B. Steinberg and Joseph A. Yager, "New Means of Financing International Needs: International Revenue Taxes", 47-98 (1978). Washington D.C.: The Brookings Institution.

Joseph Stiglitz, "Responding to Economic Crises: Policy Alternatives for Equitable Recovery and Development", The World Bank, Washington D.C. 1-17 (September 29, 1998).

John G. Stoessenger, "The Distribution of Cost of United Nations Operations" Financing the United Nations System, 18-25 (1964). Washington D.C.: The Brookings Institution. Also see pp 82-90; 138-139; and 210-214.

John G. Stoessenger, "New Sources of Revenue" Financing the United Nations System, 265-292 (1964). Washington D.C.: The Brookings Institution.

Janet G. Stotsky, "Why a two-tier Tobin tax won't work", Vol. 33, No.2 Finance & Development 28-29, International Monetary Fund, (June 1996)

Lawrence H. Summers and Victoria P. Summers, "The case for a securities transactions excise tax", Tax Notes 879-884 (August 13, 1990)

Lawrence H. Summers and Victoria P. Summers, "When financial markets work too well: A cautious case for a securities transactions tax", Vol. 3 Journal of Financial Services Research 261-286 (1989)

Jan Tinbergen, Antony J. Dolman, et al, Reshaping the International Order: A Report to the Club of Rome "Income Redistribution and the International Financing of Development", Annex 2, 210-221 (1976). New York: E.P. Dutton & Co.Inc.

James Tobin, "A proposal for international monetary reform", Vol. 4, Eastern Economic Journal 153-59 (1978)
(NOTE: This is the original proposal by Tobin, but the final version of "Tobin-style Taxes" will no doubt evolve as a result of the healthy debate the above listing of articles reflects.)

James Tobin, "A currency transaction tax, why and how", CIDEI Conference on Globalization of Markets, Rome, (October, 1994), CIDEI working paper No. 29.

Aaron Tornell, "Real vs. Financial Investment", Vol. 32, Journal of Development Economics, North-Holland: E.lsewier Science Publisher B.V. 419-444 (April 1990).

Martin Walker, "Global Taxation: Paying for Peace", Vol. 10, No. 2, World Policy Journal 7-12 (Summer 1993)

Agenda 21. Chapter 33 "Means of Implementation: "Financial Resources and Mechanisms", the UN Conference on Environment and Development, (1992).