IDEAS home Printed from https://ideas.repec.org/a/spr/empeco/v68y2025i5d10.1007_s00181-024-02696-8.html
   My bibliography  Save this article

Dynamic effects of blockchain on financial markets: evidence from TVP-Bayesian VAR with a connectedness approach

Author

Listed:
  • Martin M. Bojaj

    (Central Bank of Montenegro)

Abstract

The study analyzes the impact of blockchain adoption in the financial markets in Montenegro. Specifically, we study the connectedness of macroeconomic variables, financial markets, foreign direct investments (FDI), and main financial stability indicators. Contrary to assumptions, the adoption and transition in the short run is a painful process. In the medium run, blockchain technology absorbs an enormous amount of FDI. We conclude that adoption apparatus policies should not be based only on conventional assumptions and reveal the mechanism of key gaps by a prudential authority.

Suggested Citation

  • Martin M. Bojaj, 2025. "Dynamic effects of blockchain on financial markets: evidence from TVP-Bayesian VAR with a connectedness approach," Empirical Economics, Springer, vol. 68(5), pages 2159-2197, May.
    • Handle: RePEc:spr:empeco:v:68:y:2025:i:5:d:10.1007_s00181-024-02696-8
    DOI: 10.1007/s00181-024-02696-8
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s00181-024-02696-8
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s00181-024-02696-8?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Blockchain; Financial markets; Macroeconometrics; Connectedness; Policy objective;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:empeco:v:68:y:2025:i:5:d:10.1007_s00181-024-02696-8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.