The drivers of Bitcoin trading volume in selected emerging countries

Taoufik Bouraoui

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Abstract: While most of the debates about cryptocurrencies are centered on the global Bitcoin market, in thisarticle, we focus on local Bitcoin trading volume in 21 emerging countries. In particular, we attempt todetermine the drivers of Bitcoin trading volume in these countries over the period August 1st, 2015 – June2nd, 2018. Based on VECM and ARDL models, we find evidence of significant relationship between thelocal Bitcoin trading volume in each country and the associated banking system access, especially in theshort-run. Moreover, altcoins (Ethereum, Ripple) prices are shown to affect positively and significantlythe local Bitcoin trading volume for most countries in the long-run (VECM results) and the short-run (ARDL results).

Keywords: Bitcoin; Cryptocurrencies; Banking system access; Altcoins; VECM; ARDL (search for similar items in EconPapers)
Date: 2020-05
Note: View the original document on HAL open archive server: https://rennes-sb.hal.science/hal-03004413
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Citations: View citations in EconPapers (7)

Published in 2020, 76, pp.218-229. ⟨10.1016/j.qref.2019.07.003⟩

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Journal Article: The drivers of Bitcoin trading volume in selected emerging countries (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03004413

DOI: 10.1016/j.qref.2019.07.003

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