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The Role of Adoption and Expansion of Global Cryptocurrencies in Financial Globalization

Author

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  • Hafezi, Esmaeel

    (Faculty of Management & Economics, Tarbiat Modares University)

  • Najarzadeh, Reza

    (Faculty of Management & Economics, Tarbiat Modares University)

  • Heydari, Hassan

    (Faculty of Management & Economics, Tarbiat Modares University)

  • Hosseini, Seyed Shamseddin

    (Faculty of Economics, Allameh Tabataba'i University)

Abstract

In international trade and financial exchanges, global cryptocurrencies have a prominent and effective role. In this paper, using the KOF index, the structure of financial globalization is extracted and the effect of the expansion of global cryptocurrencies is examined in the two components: Foreign Direct Investment and Portfolio Investment. The Ordinary

Suggested Citation

  • Hafezi, Esmaeel & Najarzadeh, Reza & Heydari, Hassan & Hosseini, Seyed Shamseddin, 2023. "The Role of Adoption and Expansion of Global Cryptocurrencies in Financial Globalization," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 18(4), pages 511-546, December.
    • Handle: RePEc:mbr:jmonec:v:18:y:2023:i:4:p:511-546
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