Goldbach, Stefan ; Nitsch, Volker (2024)
Cryptocurrencies and Capital Flows: Evidence from El Salvador’s Adoption of Bitcoin.
Report, Erstveröffentlichung, Verlagsversion
Kurzbeschreibung (Abstract)
This paper explores a monetary experiment, the adoption of Bitcoin as legal tender in El Salvador in 2021, to analyze the impact of digital currencies on international capital flows. Using a difference-in-differences approach, we find that, instead of making transfers easier, El Salvador’s official cross-border financial activity has decreased after the monetary change. This finding may reflect an increase in uncertainty. However, it is also in line with findings that link digital assets to illegal activity as previously officially recorded financial transfers may have been replaced by unrecorded activities.
| Typ des Eintrags: | Report |
|---|---|
| Erschienen: | 2024 |
| Autor(en): | Goldbach, Stefan ; Nitsch, Volker |
| Art des Eintrags: | Erstveröffentlichung |
| Titel: | Cryptocurrencies and Capital Flows: Evidence from El Salvador’s Adoption of Bitcoin |
| Sprache: | Englisch |
| Publikationsjahr: | 5 September 2024 |
| Ort: | Darmstadt |
| (Heft-)Nummer: | 247 |
| Reihe: | Darmstadt Discussion Papers in Economics |
| Kollation: | 13 ungezählte Seiten |
| URL / URN: | https://tuprints.ulb.tu-darmstadt.de/28016 |
| Kurzbeschreibung (Abstract): | This paper explores a monetary experiment, the adoption of Bitcoin as legal tender in El Salvador in 2021, to analyze the impact of digital currencies on international capital flows. Using a difference-in-differences approach, we find that, instead of making transfers easier, El Salvador’s official cross-border financial activity has decreased after the monetary change. This finding may reflect an increase in uncertainty. However, it is also in line with findings that link digital assets to illegal activity as previously officially recorded financial transfers may have been replaced by unrecorded activities. |
| Freie Schlagworte: | crypto-assets; digital currency; legal tender; bitcoin |
| Status: | Verlagsversion |
| URN: | urn:nbn:de:tuda-tuprints-280169 |
| Sachgruppe der Dewey Dezimalklassifikatin (DDC): | 300 Sozialwissenschaften > 330 Wirtschaft |
| Fachbereich(e)/-gebiet(e): | 01 Fachbereich Rechts- und Wirtschaftswissenschaften 01 Fachbereich Rechts- und Wirtschaftswissenschaften > Volkswirtschaftliche Fachgebiete 01 Fachbereich Rechts- und Wirtschaftswissenschaften > Volkswirtschaftliche Fachgebiete > Fachgebiet Internationale Wirtschaft |
| Hinterlegungsdatum: | 05 Sep 2024 12:07 |
| Letzte Änderung: | 17 Sep 2024 12:18 |
| PPN: | |
| Export: | |
| Suche nach Titel in: | TUfind oder in Google |
 |
Frage zum Eintrag |
Optionen (nur für Redakteure)
 |
Redaktionelle Details anzeigen |
Drucken
Impressum