In the Era of 4th Industrial Revolution- Are Technology-Based Assets and Green Equity Index Safe Investments with Developed and Emerging Market Index?

Sudhi Sharma (), Miklesh Prasad Yadav (), Indira Bharadwaj () and Reepu ()
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Sudhi Sharma: Fortune Institute of International Business (FIIB)
Miklesh Prasad Yadav: Indian Institute of Foreign Trade
Indira Bharadwaj: KR Mangalam University
Reepu: Chandigarh University (CU)

Asia-Pacific Financial Markets, 2025, vol. 32, issue 4, No 2, 1189-1209

Abstract: Abstract The paper is an extended contribution to the ongoing debate on cryptocurrency as a hedging instrument while investing in developed and emerging markets. At the edge of the 4th industrial revolution, the paper identifies diversification opportunities with technologically based assets and non-conventional assets like Cryptocurrency (BITW), Fintech (FINX), and Green Equity Index (QGREEN) with the Developed market (MSCI World Index) and Emerging market (MSCI Emerging Markets Index). The study is rigorous in methodology, including Granger Causality, Symmetrical and Asymmetrical Dynamic Conditional Correlation models, Diebold Yilmaz Spillover Index, and Network analysis. The study used robust statistical models like Granger Causality, Symmetrical, and Asymmetrical Dynamic Conditional Correlation models, Diebold Yilmaz Spillover Index, and Network analysis for a more accurate assessment of the investment alternatives. The results of the study aim to assist passive portfolio managers in investing in developed and emerging indices and looking for non-conventional investment options. The study assumes relevance for policymakers, as it deciphers the relevance of the cryptocurrency market vis-a-vis other emerging assets.

Keywords: Cryptocurrency; Fintech; Green Equity Index; MSCI Emerging Market Index; MSCI World Index; Diversification (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s10690-024-09485-4

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