Does currency substitution (CS) explain the phenomenon of cryptocurrency adoption (CA)?

Fil: Acosta Pimentel, Tomás. Universidad de San Andrés. Departamento de Economía; Argentina.

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Autor principal: Acosta Pimentel, Tomás
Otros Autores: López del Valle, Juan Cruz
Formato: Tesis Tesis de grado updatedVersion
Lenguaje:Inglés
Publicado: Universidad de San Andrés. Departamento de Economía 2023
Acceso en línea:http://hdl.handle.net/10908/23197
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Repositorio Digital - Universidad de San Andrés (UdeSa) de Universidad de San Andrés
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spelling I37-R143-10908-231972025-01-20T15:21:49Z Does currency substitution (CS) explain the phenomenon of cryptocurrency adoption (CA)? Acosta Pimentel, Tomás López del Valle, Juan Cruz Fil: Acosta Pimentel, Tomás. Universidad de San Andrés. Departamento de Economía; Argentina. Literature has proved that Currency Substitution (CS) is manifested when a country is experiencing macroeconomic instability, characterized by the existence of economic phenomenon’s that put in risk the use of local money. Macroeconomic determinants push countries national currencies to fail in effectively perform the functions of: medium of exchange, store of value and value of account. Consequently, loss of confidence in the national currency induced market participants to replace it for foreign currency, where the most popular solution had been demonstrated to be the US dollar. In the last decade, technological progression permitted the existence of a new form of money, cryptocurrencies appeared to take a leader character in the scene of the financial market. Both as money or investment purposes, cryptocurrencies had gained a lot of popularity with the emergence of Bitcoin and current investigation had declared that it has a promising future. The objective of this paper is to investigate up to what extent the phenomenon of CS can explain cryptocurrency adoption. Literature determined that CS is enhanced in certain macroeconomic conditions, but what happen with cryptocurrencies when they are exposed to them? Do determinants of CS have any relationship with cryptocurrency adoption? Panel data analysis and lineal regressions are examined in this paper in order to investigate the relationship of the use of crypto actives with some macroeconomic variables that had been declared by literature and recent studies as the main determinants of CS, between 2013 and 2020. 2023-09-26T21:10:46Z 2023-09-26T21:10:46Z 2022? Tesis info:eu-repo/semantics/bachelorThesis info:ar-repo/semantics/tesis de grado info:eu-repo/semantics/updatedVersion Acosta Pimentel, T. (2022). Does currency substitution (CS) explain the phenomenon of cryptocurrency adoption (CA)?. [Tesis de grado, Universidad de San Andrés. Departamento de Economía]. Repositorio Digital San Andrés. http://hdl.handle.net/10908/23197 http://hdl.handle.net/10908/23197 eng info:eu-repo/semantics/openAccess https://creativecommons.org/licenses/by-nc-nd/4.0/ application/pdf application/pdf Universidad de San Andrés. Departamento de Economía
institution Universidad de San Andrés
institution_str I-37
repository_str R-143
collection Repositorio Digital - Universidad de San Andrés (UdeSa)
language Inglés
description Fil: Acosta Pimentel, Tomás. Universidad de San Andrés. Departamento de Economía; Argentina.
author2 López del Valle, Juan Cruz
author_facet López del Valle, Juan Cruz
Acosta Pimentel, Tomás
format Tesis
Tesis de grado
Tesis de grado
updatedVersion
author Acosta Pimentel, Tomás
spellingShingle Acosta Pimentel, Tomás
Does currency substitution (CS) explain the phenomenon of cryptocurrency adoption (CA)?
author_sort Acosta Pimentel, Tomás
title Does currency substitution (CS) explain the phenomenon of cryptocurrency adoption (CA)?
title_short Does currency substitution (CS) explain the phenomenon of cryptocurrency adoption (CA)?
title_full Does currency substitution (CS) explain the phenomenon of cryptocurrency adoption (CA)?
title_fullStr Does currency substitution (CS) explain the phenomenon of cryptocurrency adoption (CA)?
title_full_unstemmed Does currency substitution (CS) explain the phenomenon of cryptocurrency adoption (CA)?
title_sort does currency substitution (cs) explain the phenomenon of cryptocurrency adoption (ca)?
publisher Universidad de San Andrés. Departamento de Economía
publishDate 2023
url http://hdl.handle.net/10908/23197
work_keys_str_mv AT acostapimenteltomas doescurrencysubstitutioncsexplainthephenomenonofcryptocurrencyadoptionca
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