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Herding behaviour in cryptocurrency and emerging financial markets

Author

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  • Maurice Omane-Adjepong
  • Imhotep Paul Alagidede
  • Anna Gustav Lyimo
  • George Tweneboah
  • Mohammed M Elgammal

Abstract

The letter examines herding in the most liquid cryptocurrency markets relative to traditional financial markets of 10 emerging economies within the G20. Our results reference significant symmetric crowd and imitation trading, which are dependent on time. Additionally, we report asymmetric herd behaviour in the cryptocurrency and stock markets, indicative that traders of these markets react collectively to extreme return movement with implied high risk and consequences for market informational efficiency.

Suggested Citation

  • Maurice Omane-Adjepong & Imhotep Paul Alagidede & Anna Gustav Lyimo & George Tweneboah & Mohammed M Elgammal, 2021. "Herding behaviour in cryptocurrency and emerging financial markets," Cogent Economics & Finance, Taylor & Francis Journals, vol. 9(1), pages 1933681-193, January.
    • Handle: RePEc:taf:oaefxx:v:9:y:2021:i:1:p:1933681
    DOI: 10.1080/23322039.2021.1933681
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    Cited by:

    1. Susovon Jana & Tarak N. Sahu, 2023. "Is the cryptocurrency market a hedge against stock market risk? A Wavelet and GARCH approach," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 52(3), November.

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