Corruption and crypto participation: Cross-country evidence

Vinay Asthana ()
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Vinay Asthana: Crypto Probity

Economics Bulletin, 2024, vol. 44, issue 2, 720 - 730

Abstract: Inspired by the vast literature on stock market participation, this paper examines the relationship between corruption levels and crypto participation rates around the world. The issue is directly relevant to the ongoing debate on the factors that influence crypto adoption. We run cross-country regressions on data collected from various sources to examine crypto participation rates. Results provide preliminary evidence to support the claim that countries with higher levels of corruption tend to have higher crypto participation rates. The analysis and findings of this paper are relevant for assessing the socioeconomic implications of the inception and growth of the crypto movement.

Keywords: Crypto adoption; crypto participation rate; corruption; crime; money laundering (search for similar items in EconPapers)
JEL-codes: G1 O3 (search for similar items in EconPapers)
Date: 2024-06-30
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