The Relationship Between Cryptocurrencies and the Trade Balance of Nigeria

Abstract

Bitcoin has increased rapidly in value since the first day of its integration into today's markets. The increases experienced have directed the interest of global investors to this field over time. In addition to these developments, the increasing popularity of blockchain technology and the increase in the volume of cryptocurrencies have turned these currencies into an important tool for commercial activities. Although there are many studies to measure the international trade balance with exchange rates, no study has been found to examine the relationship between the change in cryptocurrency prices and the trade balance of countries. In this study, the relationship between the trade balance of Nigeria, one of the leading countries in the world in terms of cryptocurrency usage, and cryptocurrencies is analysed using NARDL analysis with coefficient symmetry test (2016/M4-2020/ M12). According to the research results, Bitcoin and Litecoin can have significant long-term impact on Nigeria's trade balance.

Keywords

• Cryptocurrencies
• Trade Balance
• Nardl
• Coefficient Symmetry Test

Kripto Paralar ile Nijerya'nın Dış Ticaret Dengesi Arasındaki İlişki

Abstract

Bitcoinin günümüz piyasalarına entegre oluşunun ilk gününden bugüne kadar değer olarak hızlı şekilde yükseliş kaydetmiştir. Yaşanan artışlar, küresel yatırımcıların ilgisini zamanla bu alana yönlendirmiştir. Bu gelişmelerin yanı sıra blockchain teknolojisinin popülerliğinin artması ve kripto para birimlerinin hacminin yükselmesi, bu para birimlerinin ticari faaliyetlerde de kullanılması açısından önemli bir araç haline dönüştürmüştür. Döviz kurları ile uluslararası ticaret dengesini ölçmeye yönelik birçok çalışma olmasına rağmen, kripto para birimi fiyatlarındaki değişim ile ülkelerin ticaret dengesi arasındaki ilişkiyi inceleyen herhangi bir çalışma tespit edilememiştir. Bu çalışmada, kripto para kullanımı açısından dünyadaki öncü ülkelerden biri olan Nijerya'nın ticaret dengesi ile kripto para birimleri arasındaki ilişki NARDL analizi katsayı simetri testi ile kullanılarak incelenmiştir(2016/M4-2020/ M12). Araştırma sonuçlarına göre, kripto para birimleri arasında yer alan Bitcoin ve Litecoin’in, Nijerya'nın ticaret dengesi üzerinde önemli ve uzun vadeli bir etkiye sahip olacağını göstermiştir.

Keywords

• Kripto para birimleri
• Dış Ticaret Dengesi
• Nardl
• Katsayı Simetri Testi

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