Crypto currency and economic growth in Nigeria

Chi Aloysius Ngong

International Journal of Electronic Finance, 2025, vol. 14, issue 1, 1-21

Abstract: This study investigates the link between crypto currencies and economic growth from 2012Q1 to 2019Q4. GDP per capita measures economic growth. Bitcoin transactions volume, private sector credit and foreign direct investment measured currency circulation using Engle-Granger residual co-integration, fully modified OLS, dynamic OLS and conical co-integration regression. Results unveil long-term relationship between crypto currencies and economic growth. The findings indicate a negative long-run association between LNBVT and GDP. The Central Bank of Nigeria and government should improve the legal system to regulate crypto currencies transactions. This research suggests implementation of effective laws on crypto currencies transactions to limit crypto currencies' negativities in the global economy. This is possible if the crypto currencies' developers create geographically delimited or encrypted protocols. This study recommends that all economic actors should be open-minded towards technological innovations. The suggested policies would improve crypto currency acceptance in the economies globally. The authorities should regulate crypto currencies' usage and security from illegal activities.

Keywords: crypto currency; economic growth; fully modified OLS; FMOLS; dynamic OLS; DOLS; conical co-integration regression; CCR; Nigeria. (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=143231 (text/html)
Access to full text is restricted to subscribers.

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:ids:ijelfi:v:14:y:2025:i:1:p:1-21

Access Statistics for this article

More articles in International Journal of Electronic Finance from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().