Unveiling time-frequency linkages among diverse cryptocurrency classes and climate change concerns

IF 4.8 2区经济学 Q1 BUSINESS, FINANCE

International Review of Economics & Finance Pub Date : 2025-03-18 DOI:10.1016/j.iref.2025.104064

Inzamam Ul Haq , Muhammad Abubakr Naeem , Chunhui Huo , Walid Bakry

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引用次数: 0

Abstract

This study examines the interlinkages among diverse cryptocurrency classes and their multiscale relationship with media climate change concerns to examine how cryptocurrency returns respond to rising climate change concerns. The analysis includes 11 cryptocurrencies classified as dirty, gold-backed, energy, and sustainable and their behavior regarding media climate change concerns, including transition and physical risks. Using squared wavelet coherence and partial wavelet coherence (PWC) on daily data from January 1, 2014 to June 29, 2024, this study shows time-frequency-dependent market integration among cryptocurrency pairs. During rising climate change concerns, returns decrease for some cryptocurrencies while increasing for XRP, implying higher investors' trust in sustainable cryptocurrencies. PWC analysis reveals significant influence of climate change concerns on pairwise returns connectedness among various cryptocurrency classes. This study highlights the need for cryptocurrency traders to incorporate media climate change information into their investment decisions, contributing insights into using diverse crypto-assets for risk management.

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揭示不同加密货币类别与气候变化问题之间的时频联系

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来源期刊

International Review of Economics & Finance Multiple-

CiteScore

7.30

自引率

2.20%

发文量

253

期刊介绍： The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.