Does Bitcoin Affect Term Deposits? Evidence from MINT Countries-Reference-Cited by-同舟云学术

Does Bitcoin Affect Term Deposits? Evidence from MINT Countries

Published:2023-01-01 Issue:1 Volume:17 Page:
ISSN:1864-6042
Container-title:Economics
language:en
Short-container-title:

Author:

Baş Tuğba¹,Özaydın Orhan¹,Dura Yahya Can¹

Affiliation:

1. Faculty of Economics, Administrative and Social Sciences, Istanbul Nisantasi University , Istanbul , 34398 , Turkey

Abstract

Abstract This article examines the relationship between Bitcoin volume and term deposit investments in Mexico, Indonesia, Nigeria, and Turkey (MINT) from 2016 to 2021. We run cointegration and error-correction econometric models for each country, analyzing both the long-term and short-term interactions between Bitcoin volume and time deposits. Our findings indicate a negative association between Bitcoin volume and term deposits in all the MINT countries, except Mexico. This suggests that individual investors in economically and financially unstable nations are increasingly turning to Bitcoin as an alternative investment option. The observed effects, while currently modest, highlight the potential threats posed by decentralized cryptocurrencies to the monetary systems of emerging economies, impacting the stability of the banking industry and overall economic growth.

Publisher

Walter de Gruyter GmbH

Subject

General Economics, Econometrics and Finance

Link

https://www.degruyter.com/document/doi/10.1515/econ-2022-0056/pdf

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