Crypto-assets, corruption, and capital controls: Cross-country correlations

被引:13
|
作者
Alnasaa, Marwa [1 ,2 ]
Gueorguiev, Nikolay [1 ]
Honda, Jiro [1 ]
Imamoglu, Eslem [1 ]
Mauro, Paolo [1 ]
Primus, Keyra [1 ]
Rozhkov, Dmitriy [1 ]
机构
[1] Int Monetary Fund, NW, Washington, DC USA
[2] Int Monetary Fund, 1900 Penn Ave NW, Washington, DC 20431 USA
关键词
Crypto-assets; Cryptocurrency; Corruption; Capital controls;
D O I
10.1016/j.econlet.2022.110492
中图分类号
F [经济];
学科分类号
02 ;
摘要
Empirical investigation of the factors underlying the growing usage of crypto-assets is in its infancy, owing to data limitations. In this paper, we present a simple cross-country analysis drawing on recently released survey-based data. We explore the correlation of crypto-asset usage with indicators of corruption, capital controls, a history of high inflation, and other factors. We find that crypto-asset usage is significantly and positively associated with corruption and capital controls. Notwithstanding the data limitations, the results support the case for regulating crypto-assets, including know-your-customer approaches, as opposed to taking a laissez-faire stance. (C)& nbsp;2022 Elsevier B.V. All rights reserved.
引用
收藏
页数:8
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