Improving human development in West African countries: do cryptocurrencies matter?

Hamidou Ouedraogo
Additional contact information
Hamidou Ouedraogo: University of Thomas Sankara, Ouagadougou, Burkina Faso

Theoretical and Applied Economics, 2025, vol. XXXII, issue 1(642), Spring, 319-334

Abstract: This study examines the relationship between cryptocurrencies and human development. To analyze data from nine West African countries between 2016 and 2023, we used the generalized method of moments (GMM) in the system to assess the impact of the trading volume of all cryptocurrencies and the value of Bitcoin and Ethereum on the human development index (HDI). Our results show a positive and significant link between these indicators and the HDI, even after applying the Newey‒West and Driscoll-Kraay standard error robustness tests. In light of these results, we recommend that policymakers establish a clear and appropriate regulatory framework while being vigilant to the risks inherent in cryptocurrencies.

Keywords: blockchain technology; cryptocurrencies; Bitcoin; Ethereum; IDH. (search for similar items in EconPapers)
Date: 2025
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://store.ectap.ro/articole/1824.pdf (application/pdf)
http://www.ectap.ro/articol.php?id=1824&rid=158 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:xxxii:y:2025:i:1(642):p:319-334

Access Statistics for this article

Theoretical and Applied Economics is currently edited by Mircea Dinu

More articles in Theoretical and Applied Economics from Asociatia Generala a Economistilor din Romania / Editura Economica Contact information at EDIRC.
Bibliographic data for series maintained by Mircea Dinu ().