CRYPTOCURRENCIES IMPLICATIONS AND RISKS ANALYSIS OF BITCOIN

Cryptocurrency;Bitcoin;Protectionism;trade barriers;remittance transfers;economic uncertainty;Bitcoin Analysis;Bitcoin demand determinants;307

Engy Mahmoud Helmy Awad국제대학원 국제학과(국제지역학전공) ;

University:서울대학교 대학원

关键词: Cryptocurrency;    Bitcoin;    Protectionism;    trade barriers;    remittance transfers;    economic uncertainty;    Bitcoin Analysis;    Bitcoin demand determinants;    307;   

Others  :  http://s-space.snu.ac.kr/bitstream/10371/161125/1/000000156331.pdf

美国|英语

来源: Seoul National University Open Repository

【 摘 要 】

ABSTRACTCRYPTOCURRENCIES IMPLICATIONS AND RISKSANALYSIS OF BITCOINEngy Mahmoud Helmy AwadInternational Area StudiesGraduate School of International StudiesSeoul National UniversityThis dissertation demonstrates how extensive the risks and implications of crypto-currencies can influence the financial stability along with prices andpayment systems stabilities, if not regulated under deterrent international legal framework. In contrast, this paper acknowledges the opportunities and benefits these payment schemes might bring about and how appealing they might be perceived by investors. Moreover it highlights the legal uncertainties surrounding these schemes with respect to challenges they rise to public authorities, as they can be used by criminals, fraudsters and money launderers to perform illegal activities.Furthermore, this paper examines factors that influence the demand for the most commonly traded cryptocurrency ;;Bitcoin” over the period 2013-2017 using annual data for fifteen designated countries. The study employs 2SLS technique and documents several findings. First, Bitcoin market-related factors such as econometric Beta, trading volume, and volatility appear to be significantly correlated to economic policies uncertainties, trade Barriers and remittance transfers for both developed and developing countries. Second, international migrants stock appears with lower P-value in developed countries despite its overall insignificance. This indicates that; recognition of the economic uncertainties and trade frictions are not influenced by countries classification division and will hold their significance throughout. On the other hand, income level and tax payments variables are highly influenced by the country’s classification when it comes to Bitcoin demand. Finally variables like number of internet users and exchange rates hold strong evidence of statistical insignificance with high likelihood of accepting the null hypothesis.Keywords: Cryptocurrency, Bitcoin, Protectionism, trade barriers, remittance transfers, economic uncertainty, Bitcoin Analysis, Bitcoin demand determinants.