REGULATION OF FINANCIAL MARKETS AND THE TOBIN TAX: SOCIOECONOMIC IMPACT
The paper discusses the nature and evolution of the Tobin tax as an instrument of regulation of financial markets, investigates the causes and socio-economic consequences of its introduction in the market economies. The author focuses on the ongoing European Union tax reform to introduce a tax on financial transactions. Referring to authoritative sources the author proves the inability of the tax to perform its functions.