A multi-country analysis of policy uncertainty and Blockchain Innovation

【Author】 Nguyen, Phong Thanh; Nguyen, Linh Thi My

【Source】JOURNAL OF INNOVATION & KNOWLEDGE

【影响因子】11.219

【Abstract】Despite the growing interest in Blockchain Innovation (BI), there is a lack of research on its predictors. This study draws on the policy uncertainty literature to hypothesize the positive influence of economic policy uncertainty (EPU) and cryptocurrency policy uncertainty (UCRY Policy) on country-level BI, determined by the total number of blockchain patents in a country. We tested our hypotheses using a two-level sample of 126 quarterly observations nested in five countries: Australia, China, Japan, Korea, and the United States. The results confirm our expectation that the EPU and UCRY Policy lead to an enhanced BI. Moreover, we found that the UCRY Policy is more impactful on BI than EPU, and that when examining the two policy uncertainty indicators simultaneously, the effect of EPU on BI becomes insignificant. This study has important implica-tions for policymakers and investors. & COPY; 2023 The Author(s). Published by Elsevier Espana, S.L.U. on behalf of Journal of Innovation & Knowledge. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)

【Keywords】BBlockchain Innovation; Economic policy uncertainty; Uncertainty of cryptocurrency policy

【发表时间】2023 JUL-SEP

【收录时间】2023-09-20

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-区块链金融监管