The drivers of Bitcoin trading volume in selected emerging countries
Copyright policy )The drivers of Bitcoin trading volume in selected emerging countries
While most of the debates about cryptocurrencies are centered on the global Bitcoin market, in thisarticle, we focus on local Bitcoin trading volume in 21 emerging countries. In particular, we attempt todetermine the drivers of Bitcoin trading volume in these countries over the period August 1st, 2015 – June2nd, 2018. Based on VECM and ARDL models, we find evidence of significant relationship between thelocal Bitcoin trading volume in each country and the associated banking system access, especially in theshort-run. Moreover, altcoins (Ethereum, Ripple) prices are shown to affect positively and significantlythe local Bitcoin trading volume for most countries in the long-run (VECM results) and the short-run (ARDL results).
- Rennes School of Business France
- Rennes School of Business France
Cryptocurrencies, Banking system access, JEL: C - Mathematical and Quantitative Methods/C.C2 - Single Equation Models • Single Variables/C.C2.C22 - Time-Series Models • Dynamic Quantile Regressions • Dynamic Treatment Effect Models • Diffusion Processes, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, ARDL, Altcoins, VECM, JEL: C - Mathematical and Quantitative Methods/C.C5 - Econometric Modeling/C.C5.C58 - Financial Econometrics, [SHS.ECO] Humanities and Social Sciences/Economics and Finance, JEL: G - Financial Economics/G.G1 - General Financial Markets/G.G1.G12 - Asset Pricing • Trading Volume • Bond Interest Rates, Bitcoin, jel: jel:G - Financial Economics/G.G1 - General Financial Markets/G.G1.G12 - Asset Pricing • Trading Volume • Bond Interest Rates, jel: jel:C - Mathematical and Quantitative Methods/C.C2 - Single Equation Models • Single Variables/C.C2.C22 - Time-Series Models • Dynamic Quantile Regressions • Dynamic Treatment Effect Models • Diffusion Processes, jel: jel:C - Mathematical and Quantitative Methods/C.C5 - Econometric Modeling/C.C5.C58 - Financial Econometrics
Cryptocurrencies, Banking system access, JEL: C - Mathematical and Quantitative Methods/C.C2 - Single Equation Models • Single Variables/C.C2.C22 - Time-Series Models • Dynamic Quantile Regressions • Dynamic Treatment Effect Models • Diffusion Processes, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, ARDL, Altcoins, VECM, JEL: C - Mathematical and Quantitative Methods/C.C5 - Econometric Modeling/C.C5.C58 - Financial Econometrics, [SHS.ECO] Humanities and Social Sciences/Economics and Finance, JEL: G - Financial Economics/G.G1 - General Financial Markets/G.G1.G12 - Asset Pricing • Trading Volume • Bond Interest Rates, Bitcoin, jel: jel:G - Financial Economics/G.G1 - General Financial Markets/G.G1.G12 - Asset Pricing • Trading Volume • Bond Interest Rates, jel: jel:C - Mathematical and Quantitative Methods/C.C2 - Single Equation Models • Single Variables/C.C2.C22 - Time-Series Models • Dynamic Quantile Regressions • Dynamic Treatment Effect Models • Diffusion Processes, jel: jel:C - Mathematical and Quantitative Methods/C.C5 - Econometric Modeling/C.C5.C58 - Financial Econometrics
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