نقش پذیرش و توسعه رمز ارزش‌های جهان‌روا در جهانی‌شدن اقتصاد

نوع مقاله : مقاله پژوهشی

نویسندگان

1 دانشجوی دکتری گروه علوم اقتصادی دانشکده مدیریت و اقتصاد دانشگاه تربیت مدرس، تهران، ایران

2 دانشیار گروه علوم اقتصادی دانشکده مدیریت و اقتصاد دانشگاه تربیت مدرس، تهران، ایران

3 استادیار گروه علوم اقتصادی دانشکده مدیریت و اقتصاد دانشگاه تربیت مدرس، تهران، ایران

4 دانشیار گروه اقتصاد بازرگانی دانشکده اقتصاد دانشگاه علامه طباطبائی، تهران، ایران

10.48308/jem.2024.233461.1869

چکیده

درهم‌تنیده‌شدن اقتصاد یا ادغام اقتصادهای جهانی امروزه به‌طور فزاینده‌ای در حال گسترش است. در سایه تحولات فناورانه معاصر، توسعه‌ و ترویج رمزپول‌ها، بی‌شک چالش‌ها و مزایایی به‌همراه خواهد داشت. این تحولات، تاثیرات قابل‌توجهی بر اقتصاد جهانی و به‌ویژه تجارت و مالیه بین‌الملل داشته است. در این پژوهش، با کمک شاخص KOF، ساختار جهانی‌شدن اقتصاد استخراج شده است و اثر پذیرش و ترویج رمزپول‌های جهان‌روا در دو بعد تجارت بین‌الملل و مالیه بین‌الملل بررسی شده است. نتایج برآورد شده حداقل مربعات معمولی و تعمیم‌یافته در سال‌های 2019، 2020 و 2021 نشان می‌دهد که پذیرش و رواج رمزپول‌های جهان‌روا ارتباط معناداری با شاخص تجارت بین‌الملل و سرمایه‌گذاری مستقیم خارجی ندارد. همچنین با استفاده از نظریه پورتفوی مدرن، نتایج بهینه‌سازی پرتفو نشان می‌دهد که رمزپول‌های جهان‌روا اثربخشی پرتفو‌های منتخب را بهبود می‌بخشد و در بازده مربوطه، ریسک پرتفوهای شامل رمزپول‌ها کاهش می‌یابد. بنابراین، نتایج نقش رمزپول‌ها در جهانی‌شدن اقتصاد را صرفا به عنوان رمزدارایی نشان می‌دهند.

کلیدواژه‌ها

موضوعات

عنوان مقاله [English]

The Role of the Adoption and Expansion of Global Cryptocurrencies in Economic Globalization

نویسندگان [English]

  • Esmaeel Hafezi 1
  • Reza Najarzadeh 2
  • Hassan Heydari 3
  • Seyed Shamseddin Hosseini 4
1 PhD Candidate in Economics, Faculty of Management & Economics, Tarbiat Modares University, Tehran
2 Associate Professor of Economics, Faculty of Management & Economics, Tarbiat Modares University, Tehran, Iran
3 Assistant Professor of Economics, Faculty of Management & Economics, Tarbiat Modares University, Tehran, Iran,
4 Associate Professor of Economics, Faculty of Economics, Allameh Tabataba'i University, Tehran, Iran
چکیده [English]

The entanglement of economies or the integration of world economies is increasingly taking place in recent years. Due to contemporary technological developments, the adoption and expansion of cryptocurrencies will undoubtedly bring challenges and benefits. These developments have had significant effects on the global economy, especially international trade and finance. In this research, using the KOF index, the structure of economic globalization is extracted and the effect of the expansion of global cryptocurrencies is examined in two dimensions: international trade and international finance. OLS and GLS estimated results in 2019, 2020 and 2021 suggest that the adoption and expansion of global cryptocurrencies has no significant relationship with the index of international trade and foreign direct investment. Also, using Modern Portfolio Theory, the results of portfolio optimization suggest that global cryptocurrencies improve the effectiveness of the selected portfolios, and with the same corresponding returns, the risk of the portfolios including global cryptocurrencies decreases as well. Therefore, the results emphasize the role of cryptocurrencies in economic globalization only as crypto-assets.

کلیدواژه‌ها [English]

  • Global Cryptocurrencies
  • Trade Globalization
  • Financial Globalization
  • Foreign Direct Investment
  • Modern Portfolio Theory

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