Should Bitcoin be used to help devastated economies? Evidence from Greece - Archive ouverte HAL Access content directly
Journal Articles Economics Bulletin Year : 2019

Should Bitcoin be used to help devastated economies? Evidence from Greece

(1) , (1, 2)
1
2

Abstract

The worldwide heightened economic uncertainty in countries like Venezuela, India, Britain, and Italy has strengthened more demand for Bitcoin. The deadlock between Greece and creditors doesn't seem to be going away and Greeks are very tired of the most punishing austerity measures connected to repayments of the loans. Greek people, who become increasingly mistrustful of their government, found solace in the Bitcoin as a refuge asset. The novelty of this paper lies in its methodological approach, which can pinpoint the dynamic effects of uncertainty surrounding the debt crisis on the interest in Bitcoin as an alternative to conventional and state-sanctioned banking system. Our findings confirm the great resilience of Bitcoin during periods of turmoil, highlighting its potential safe haven ability against uncertainty.
Fichier principal
Vignette du fichier
EB-19-V39-I1-P513-520.pdf (483.91 Ko) Télécharger le fichier
Origin : Files produced by the author(s)
Loading...

Dates and versions

hal-02407994 , version 1 (12-12-2019)

Identifiers

  • HAL Id : hal-02407994 , version 1

Cite

Jamal Bouoiyour, Refk Selmi. Should Bitcoin be used to help devastated economies? Evidence from Greece. Economics Bulletin, 2019, 39 (1), pp.513-520. ⟨hal-02407994⟩

Collections

UNIV-PAU CATT
124 View
154 Download

Share

Gmail Facebook Twitter LinkedIn More