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The Effect of Financial Transaction Tax on Stock Market Volatility and Liquidity: The Case of Italy
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
2018 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

This research makes use of the introduction of a financial transaction tax (FTT) in Italy in March 2013 to test its impact on stock market volatility and liquidity against the competing theories. The tax affected two groups of companies differently, which is why DID methodology is used. The results suggest that the FTT increased stock market volatility, while had no impact on liquidity. This finding is consistent with the hypothesis that an FTT increases market volatility through discouraging informed investors from making transactions. 

Place, publisher, year, edition, pages
2018.
National Category
Economics
Identifiers
URN: urn:nbn:se:uu:diva-356951OAI: oai:DiVA.org:uu-356951DiVA, id: diva2:1237550
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Available from: 2018-08-09 Created: 2018-08-09 Last updated: 2018-08-09Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
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