Global cryptocurrency use, corruption, and the shadow economy: New insights into the underlying linkages.
The recent prevalence of digital currencies has challenged policymakers as they try to control the supply of money and rein in clandestine activities. Corruption and shadow economy are widely prevalent illegal/unobserved activities that have been hard to eliminate worldwide. These longstanding and e...
| Publicado en: | American Journal of Economics & Sociology Vol. 83; no. 3; pp. 609 - 630 |
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| Autores principales: | , , |
| Formato: | Artículo |
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Wiley-Blackwell
May2024
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=177243947&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 177243947 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00029246 AES jtl: American Journal of Economics & Sociology issn: 00029246 maglogo: Y pubinfo: dt: May2024 vid: 83 iid: 3 pid: 480 pub: Wiley-Blackwell artinfo: ui: 177243947 10.1111/ajes.12566 ppf: 609 ppct: 21 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 354KB tig: atl: Global cryptocurrency use, corruption, and the shadow economy: New insights into the underlying linkages. aug: au: Berdiev, Aziz N. Goel, Rajeev K. Saunoris, James W. affil: Bryant University, Smithfield Rhode Island,, USA Katie School of Insurance and Risk Management, Illinois State University, Normal Illinois,, USA Kiel Institute for the World Economy, Kiel, Germany Institute for Studies on the Mediterranean, National Research Council, Napoli, Italy Eastern Michigan University, Ypsilanti Michigan,, USA su: Informal sector Money supply Corruption Cryptocurrencies Digital currency sug: subj: Informal sector Money supply Corruption Cryptocurrencies Digital currency ab: The recent prevalence of digital currencies has challenged policymakers as they try to control the supply of money and rein in clandestine activities. Corruption and shadow economy are widely prevalent illegal/unobserved activities that have been hard to eliminate worldwide. These longstanding and entrenched activities have possibly found a new avenue to thrive and evade detection/punishment. So disentangling the nexus between corruption, shadow economy, and digital currencies is important. Using recent cross‐country data, this paper analyzes the interrelationships between corruption, shadow economy, and cryptocurrencies. We argue that a large underground sector in a nation provides a mechanism through which corrupt government officials use cryptocurrencies to conceal their unauthorized earnings. Employing formal mediation analysis, our results show that the positive nexus between corruption and cryptocurrency adoption is mediated by the shadow sector. Quantitatively speaking, three‐fourths of the correlation between corruption and cryptocurrency usage is mediated by the shadow economy. The primary implication of our findings is that effective monitoring of cryptocurrencies should pay attention to policies to control both corruption and the shadow economy. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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