The abrogation of the “Impôt sur les opérations de bourse” did not foster the French stock market
Résumé
Between 1893 and 2007, a securities transaction tax (“Impôts sur les opérations de bourse”) was levied on the French market. In this paper, I assess the impact of the tax abrogation. Using a difference-in-difference approach, I find no impact on market liquidity and volatility.