“rkiye的美元化与比特币化：哪个对金融市场更危险？”

IF 5.4 2区经济学 Q1 BUSINESS, FINANCE

Journal of International Financial Markets Institutions & Money Pub Date : 2025-02-12 DOI:10.1016/j.intfin.2025.102116

George M. Jabbour , Layal Mansour-Ichrakieh

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引用次数: 0

摘要

虽然比特币化和美元化具有相似的理论经济定义，但它们对金融市场的影响不同。我们采用向量自回归模型和格兰杰因果检验来检验比特币需求、美元化率和 rkiye金融市场之间的因果关系。结果表明，比特币化和美元化都不会直接导致 rkiye的金融危机。然而，当将金融市场分解为三个组成部分——银行业、股市和外汇市场时，我们发现比特币化与银行业之间、美元化与外汇市场之间存在双向因果关系。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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“Dollarization vs. bitcoinization in Türkiye: Which is more dangerous for the financial market?”

While bitcoinization and dollarization share similar theoretical economic definitions, their effects on the financial market differ. We employ a vector autoregressive model and Granger causality test to examine the causal relationships between Bitcoin demand, the dollarization rate, and the financial market in Türkiye. The results indicate that neither bitcoinization nor dollarization directly causes a financial crisis in Türkiye. However, when breaking down the financial market into its three components —the banking sector, the stock market, and the foreign exchange market — we find a bidirectional causality between bitcoinization and the banking sector, and between dollarization and the exchange market.

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来源期刊

Journal of International Financial Markets Institutions & Money Multiple-

CiteScore

6.60

自引率

10.00%

发文量

142

期刊介绍： International trade, financing and investments, and the related cash and credit transactions, have grown at an extremely rapid pace in recent years. The international monetary system has continued to evolve to accommodate the need for foreign-currency denominated transactions and in the process has provided opportunities for its ongoing observation and study. The purpose of the Journal of International Financial Markets, Institutions & Money is to publish rigorous, original articles dealing with the international aspects of financial markets, institutions and money. Theoretical/conceptual and empirical papers providing meaningful insights into the subject areas will be considered. The following topic areas, although not exhaustive, are representative of the coverage in this Journal. • International financial markets • International securities markets • Foreign exchange markets • Eurocurrency markets • International syndications • Term structures of Eurocurrency rates • Determination of exchange rates • Information, speculation and parity • Forward rates and swaps • International payment mechanisms • International commercial banking; • International investment banking • Central bank intervention • International monetary systems • Balance of payments.