Decrypting new age international capital flows ?

【Author】 von Luckner, Clemens Graf; Reinhart, Carmen M.; Rogoff, Kenneth

【Source】JOURNAL OF MONETARY ECONOMICS

【影响因子】4.630

【Abstract】This paper employs high frequency transactions data on the world's two oldest and most extensive centralized peer-to-peer Bitcoin markets, enabling trade in the currencies of more than 160 countries. We develop an algorithm that allows us, with high probability, to detect "crypto vehicle transactions" in which crypto currency is used to move capital across borders, and/or to exchange one fiat currency for another. The data suggest that the use of Bitcoin has become an increasingly important channel to receive remittances and evade capital controls in emerging markets. Two event studies on Venezuela and Argentina provide supporting evidence.& COPY; 2023 Elsevier B.V. All rights reserved.

【Keywords】Cryptocurrencies; Bitcoin; International capital flows; Transactions; Speculative bubbles

【发表时间】2023 SEP

【收录时间】2023-09-29

【文献类型】实证数据

【主题类别】

区块链治理-技术治理-异常/非法交易识别