Explaining Variations in Cryptocurrency Ownership: A Cross-country Study

Authors

  • Sang Lee Southeastern Louisiana University
  • Gavin Labasse Southeastern Louisiana University
  • Lara Gardner Southeastern Louisiana University
  • Jamie Vicknair Southeastern Louisiana University

DOI:

https://doi.org/10.5296/ber.v13i2.20764

Abstract

This study investigates how cryptocurrency ownership varies across countries using a set of variables that reflect a country's overall economic circumstances and long-term outlook. Despite the nascent stage of the cryptocurrency market and the concomitant deficiency of the data on cryptocurrency, a multiple linear regression is fitted as an incipient step towards more advanced future studies. Our empirical findings show that cryptocurrency ownership is more likely to grow in a country with (1) a high human capital stock such as citizens' health and education and (2) a rich endowment of legal property rights. It was also inferred from the regression results that cryptocurrency could be an effective hedge against inflation to some extent.

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Published

2023-06-01

How to Cite

Lee, S., Labasse, G., Gardner, L., & Vicknair, J. (2023). Explaining Variations in Cryptocurrency Ownership: A Cross-country Study. Business and Economic Research, 13(2), 29–39. https://doi.org/10.5296/ber.v13i2.20764

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Section

Articles