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Corruption and crypto participation: Cross-country evidence

Author

Listed:
  • Vinay Asthana

    (Crypto Probity)

Abstract

Inspired by the vast literature on stock market participation, this paper examines the relationship between corruption levels and crypto participation rates around the world. The issue is directly relevant to the ongoing debate on the factors that influence crypto adoption. We run cross-country regressions on data collected from various sources to examine crypto participation rates. Results provide preliminary evidence to support the claim that countries with higher levels of corruption tend to have higher crypto participation rates. The analysis and findings of this paper are relevant for assessing the socioeconomic implications of the inception and growth of the crypto movement.

Suggested Citation

  • Vinay Asthana, 2024. "Corruption and crypto participation: Cross-country evidence," Economics Bulletin, AccessEcon, vol. 44(2), pages 720-730.
    • Handle: RePEc:ebl:ecbull:eb-23-00245
    as

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    File URL: http://www.accessecon.com/Pubs/EB/2024/Volume44/EB-24-V44-I2-P55.pdf
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Crypto adoption; crypto participation rate; corruption; crime; money laundering;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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