How cryptocurrency affects economy? A network analysis using bibliometric methods

Yao Yue, Xuerong Li, Dingxuan Zhang and Shouyang Wang

International Review of Financial Analysis, 2021, vol. 77, issue C

Abstract: This paper analyses existing literature about the economic effects of cryptocurrency using bibliometric methods. 1850 articles are collected from “Web of Science core database” from 2013 to 2020. We explore research hotspots and development trends through descriptive statistical analysis, keyword co-occurrence and literature co-citation network analysis. We find that literature of computer sciences and interdisciplinary fields mainly research the technologies’ effects on the economic phenomenon, the technique progress in overcoming the negative economic effects of cryptocurrency, and appeal to establish a new payment system based on the underlying technologies. In comparison, the literature of economic field is concerned about the economic outcomes of cryptocurrency. Especially with the occurrence of various altcoins and the steady progress of legal digital currency in some countries, scholars have paid more attention to the investment properties of cryptocurrency. Based on these findings, this paper holds that the macroeconomic effects of cryptocurrency, the influence mechanism of cryptocurrency and legal digital currency will become research hotspots in the future.

Keywords: Cryptocurrency; Economic; Bibliometric; Network analysis; Bitcoin (search for similar items in EconPapers)
JEL-codes: G0 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (15)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:77:y:2021:i:c:s1057521921001976

DOI: 10.1016/j.irfa.2021.101869

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