Araştırma Makalesi
BibTex RIS Kaynak Göster

The Relationship Between Cryptocurrencies and the Trade Balance of Nigeria

Yıl 2024, Cilt: 11 Sayı: 2, 611 - 625, 25.07.2024
https://doi.org/10.30626/tesamakademi.1264780

Öz

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.

Kaynakça

  • Anuyahong, B., & Ek-udom, N. (2023). The Impact of Cryptocurrency on Global Trade and Commerce. International Journal of Current Science Research and Review, 6(4), 2543-2553.
  • Arthur, B., Selase Afenya, M., Asiedu, M. and Aduku, R.(2022). The bilateral J-curve between Ghana and her key trading partners, Cogent Economics & Finance, 10(1), pp.1-18.
  • Barkat, K., Jarallah, S. and Alsamara, M.(2022). Do Exchange Rate Changes Improve the Trade Balance in GCC Countries: Evidence from Nonlinear Panel Cointegration, The International Trade Journal, pp. 1-17.
  • BBC, Accessed: 04.06.2023 , https://www.bbc.com/news/world-afri­ca-56169917
  • Berbenni, E. (2021). External devaluation and trade balance in 1930s Italy, Structural Change and Economic Dynamics, 57, pp. 93-107.
  • Bhaskar, R., Hunjra, A. I., Bansal, S. and Pandey, D.K. (2022). Central Bank Digital Currencies: Agendas for future research, Research in International Business and Finance, 62, pp.1-17.
  • BingX, Accessed: 10.12.2023 https://bingx.com/fr-fr/learn/usdt-tr­c-20-exchange/
  • Cekerevac, Z., and Cekerevac, P. (2023). Blockchain Technology and Appli­cation – SMEs Aspect. MEST Journal, 11(2), 12., https://www.meste.org/ mest/MEST_Najava/XXII_Cekerevac.pdf
  • Chang, S. E., Chen, Y. C., and Wu, T. C. (2019). Exploring blockchain techno­logy in international trade: Business process re-engineering for letter of credit. Industrial Management & Data Systems, 119(8), 1712-1733.
  • Choochote, K., Sirimat, S., Watchallanun, T. and Nonthapot, S.(2023). The relationship between the transportation export value and energy con­sumption of Thailand, Decision Science Letters, 12(1), pp. 1-12.
  • Derindag, O. F., Yarygina, I. Z., and Tsarev, R. Y. (2020). International trade and blockchain technologies: implications for practice and policy. In IOP Conference Series: Earth and Environmental Science (Vol. 421, No. 2, p. 022051). IOP Publishing.
  • Eshetu, F. and Eshetu, N. (2021). Impact of Exchange Rate on Ethiopian Trade Balance: Evidence from ARDL Model, Annals of Data Science, pp.1- 20.
  • Feinstein, B. D. and Werbach, K. (2021). The impact of cryptocurrency re­gulation on trading markets. Journal of Financial Regulation, 7(1), 48-99.
  • Forbes, 2024 Accessed: 28.02.2024, https://www.forbes.com/advisor/ investing/cryptocurrency/top-10-cryptocurrencies/
  • Han, C. S., Hamooni, A., Tajdini, S., Mehrara, M., & Ghahroud, M. L. (2022). A new version of CBDC based on the most important economic factors and exports of countries.
  • Investing, Accessed: 16.05.2023, https://www.investing.com/
  • Investopedia, Accessed: 03.01.2024 https://www.investopedia.com/ar­ticles/investing/042015/bitcoin-vs-litecoin-whats-difference.asp#:~:­text=Bitcoin%20and%20Litecoin%20use%20different,number%20 of%20coins%20than%20Bitcoin.
  • Jiang, W. and Liu, G., (2022). The asymmetric impact of exchange rate changes on bilateral trade balance: evidence from China and its trade partners, Economic Research-Ekonomska Istraživanja, pp.1-22.
  • Kommuru, A. R., Gupta, A., and Chauhan, M. (2022). Cryptocurrency: The Present and the Future Scenario, International Journal for Research in Applied Science & Engineering Technology, pp.675-688.
  • Malladi,, R. K., and Dheeriya, P. L. (2021). Time series analysis of crypto­currency returns and volatilities, Journal of Economics and Finance, 45(1), pp.75-94.
  • Mehtiyev, J., Magda, R. and Vasa, L.,(2021). Exchange rate impacts on in­ternational trade, Economic Annals-XXI, pp.12-22.
  • Mustafa, G., (2022). The Regulation of the Investment in Crypto-Assets and its role in the growth of International Trade. doi: 10.54216/ijp­lia.010104
  • Nairametrics, Accessed: 07.12.2023 https://nairametrics. com/2023/02/03/nigeria-ranks-1st-in-cryptocurrency-usage-and-ow­nership-globally-report/
  • Onyekwere, E., Ogwueleka, F. N., and Irhebhude, M. E. (2023). Adoption and sustainability of bitcoin and the blockchain technology in Nigeria. In­ternational Journal of Information Technology, pp.1-12.
  • Ozcelebi, O., Tokmakcioglu , K. and Su , E., (2021). Revisiting the asymmet­ric impacts of the exchange market pressure on the inflation, interest rate and foreign trade balance in Eastern Europe, Empirical Economics, 61(5), pp. 2517-2538.
  • Statista, 2022 Accessed: 09.12.2023 https://www.statista.com/statisti­cs/944355/cryptocurrency-transaction-speed/
  • Sufian, H., and Farooq, S. (2016). The Art of Crypto Currencies, Interna­tional Journal of Advanced Computer Science and Applications(IJACSA), 7(12), pp.426-435.
  • Telek , C., and Sit, A.(2020) The Relationship of Crypto Coins with Gold and Foreign Exchange: The Case of Bitcoin, Turkish Studies-Economics, Finance, Politics, 15(2), pp.913-924.
  • Trademap, 2022 Accessed: 09.07.2023 https://www.trademap.org/In­dex.aspx
  • Yahoo Finance. (06.07.2021). Accessed:19.12.2022. https://finance. yahoo.com/news/thriving-under-pressure-why-crypto-160556278.html

Kripto Paralar ile Nijerya'nın Dış Ticaret Dengesi Arasındaki İlişki

Yıl 2024, Cilt: 11 Sayı: 2, 611 - 625, 25.07.2024
https://doi.org/10.30626/tesamakademi.1264780

Öz

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.

Kaynakça

  • Anuyahong, B., & Ek-udom, N. (2023). The Impact of Cryptocurrency on Global Trade and Commerce. International Journal of Current Science Research and Review, 6(4), 2543-2553.
  • Arthur, B., Selase Afenya, M., Asiedu, M. and Aduku, R.(2022). The bilateral J-curve between Ghana and her key trading partners, Cogent Economics & Finance, 10(1), pp.1-18.
  • Barkat, K., Jarallah, S. and Alsamara, M.(2022). Do Exchange Rate Changes Improve the Trade Balance in GCC Countries: Evidence from Nonlinear Panel Cointegration, The International Trade Journal, pp. 1-17.
  • BBC, Accessed: 04.06.2023 , https://www.bbc.com/news/world-afri­ca-56169917
  • Berbenni, E. (2021). External devaluation and trade balance in 1930s Italy, Structural Change and Economic Dynamics, 57, pp. 93-107.
  • Bhaskar, R., Hunjra, A. I., Bansal, S. and Pandey, D.K. (2022). Central Bank Digital Currencies: Agendas for future research, Research in International Business and Finance, 62, pp.1-17.
  • BingX, Accessed: 10.12.2023 https://bingx.com/fr-fr/learn/usdt-tr­c-20-exchange/
  • Cekerevac, Z., and Cekerevac, P. (2023). Blockchain Technology and Appli­cation – SMEs Aspect. MEST Journal, 11(2), 12., https://www.meste.org/ mest/MEST_Najava/XXII_Cekerevac.pdf
  • Chang, S. E., Chen, Y. C., and Wu, T. C. (2019). Exploring blockchain techno­logy in international trade: Business process re-engineering for letter of credit. Industrial Management & Data Systems, 119(8), 1712-1733.
  • Choochote, K., Sirimat, S., Watchallanun, T. and Nonthapot, S.(2023). The relationship between the transportation export value and energy con­sumption of Thailand, Decision Science Letters, 12(1), pp. 1-12.
  • Derindag, O. F., Yarygina, I. Z., and Tsarev, R. Y. (2020). International trade and blockchain technologies: implications for practice and policy. In IOP Conference Series: Earth and Environmental Science (Vol. 421, No. 2, p. 022051). IOP Publishing.
  • Eshetu, F. and Eshetu, N. (2021). Impact of Exchange Rate on Ethiopian Trade Balance: Evidence from ARDL Model, Annals of Data Science, pp.1- 20.
  • Feinstein, B. D. and Werbach, K. (2021). The impact of cryptocurrency re­gulation on trading markets. Journal of Financial Regulation, 7(1), 48-99.
  • Forbes, 2024 Accessed: 28.02.2024, https://www.forbes.com/advisor/ investing/cryptocurrency/top-10-cryptocurrencies/
  • Han, C. S., Hamooni, A., Tajdini, S., Mehrara, M., & Ghahroud, M. L. (2022). A new version of CBDC based on the most important economic factors and exports of countries.
  • Investing, Accessed: 16.05.2023, https://www.investing.com/
  • Investopedia, Accessed: 03.01.2024 https://www.investopedia.com/ar­ticles/investing/042015/bitcoin-vs-litecoin-whats-difference.asp#:~:­text=Bitcoin%20and%20Litecoin%20use%20different,number%20 of%20coins%20than%20Bitcoin.
  • Jiang, W. and Liu, G., (2022). The asymmetric impact of exchange rate changes on bilateral trade balance: evidence from China and its trade partners, Economic Research-Ekonomska Istraživanja, pp.1-22.
  • Kommuru, A. R., Gupta, A., and Chauhan, M. (2022). Cryptocurrency: The Present and the Future Scenario, International Journal for Research in Applied Science & Engineering Technology, pp.675-688.
  • Malladi,, R. K., and Dheeriya, P. L. (2021). Time series analysis of crypto­currency returns and volatilities, Journal of Economics and Finance, 45(1), pp.75-94.
  • Mehtiyev, J., Magda, R. and Vasa, L.,(2021). Exchange rate impacts on in­ternational trade, Economic Annals-XXI, pp.12-22.
  • Mustafa, G., (2022). The Regulation of the Investment in Crypto-Assets and its role in the growth of International Trade. doi: 10.54216/ijp­lia.010104
  • Nairametrics, Accessed: 07.12.2023 https://nairametrics. com/2023/02/03/nigeria-ranks-1st-in-cryptocurrency-usage-and-ow­nership-globally-report/
  • Onyekwere, E., Ogwueleka, F. N., and Irhebhude, M. E. (2023). Adoption and sustainability of bitcoin and the blockchain technology in Nigeria. In­ternational Journal of Information Technology, pp.1-12.
  • Ozcelebi, O., Tokmakcioglu , K. and Su , E., (2021). Revisiting the asymmet­ric impacts of the exchange market pressure on the inflation, interest rate and foreign trade balance in Eastern Europe, Empirical Economics, 61(5), pp. 2517-2538.
  • Statista, 2022 Accessed: 09.12.2023 https://www.statista.com/statisti­cs/944355/cryptocurrency-transaction-speed/
  • Sufian, H., and Farooq, S. (2016). The Art of Crypto Currencies, Interna­tional Journal of Advanced Computer Science and Applications(IJACSA), 7(12), pp.426-435.
  • Telek , C., and Sit, A.(2020) The Relationship of Crypto Coins with Gold and Foreign Exchange: The Case of Bitcoin, Turkish Studies-Economics, Finance, Politics, 15(2), pp.913-924.
  • Trademap, 2022 Accessed: 09.07.2023 https://www.trademap.org/In­dex.aspx
  • Yahoo Finance. (06.07.2021). Accessed:19.12.2022. https://finance. yahoo.com/news/thriving-under-pressure-why-crypto-160556278.html
Toplam 30 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Ekonomi
Bölüm Makaleler
Yazarlar

Hüseyin Çetin 0000-0001-7296-0447

Yunus Emre Sürmen 0000-0002-4031-8676

Yayımlanma Tarihi 25 Temmuz 2024
Yayımlandığı Sayı Yıl 2024 Cilt: 11 Sayı: 2

Kaynak Göster

APA Çetin, H., & Sürmen, Y. E. (2024). The Relationship Between Cryptocurrencies and the Trade Balance of Nigeria. TESAM Akademi Dergisi, 11(2), 611-625. https://doi.org/10.30626/tesamakademi.1264780
AMA Çetin H, Sürmen YE. The Relationship Between Cryptocurrencies and the Trade Balance of Nigeria. TESAM Akademi Dergisi. Temmuz 2024;11(2):611-625. doi:10.30626/tesamakademi.1264780
Chicago Çetin, Hüseyin, ve Yunus Emre Sürmen. “The Relationship Between Cryptocurrencies and the Trade Balance of Nigeria”. TESAM Akademi Dergisi 11, sy. 2 (Temmuz 2024): 611-25. https://doi.org/10.30626/tesamakademi.1264780.
EndNote Çetin H, Sürmen YE (01 Temmuz 2024) The Relationship Between Cryptocurrencies and the Trade Balance of Nigeria. TESAM Akademi Dergisi 11 2 611–625.
IEEE H. Çetin ve Y. E. Sürmen, “The Relationship Between Cryptocurrencies and the Trade Balance of Nigeria”, TESAM Akademi Dergisi, c. 11, sy. 2, ss. 611–625, 2024, doi: 10.30626/tesamakademi.1264780.
ISNAD Çetin, Hüseyin - Sürmen, Yunus Emre. “The Relationship Between Cryptocurrencies and the Trade Balance of Nigeria”. TESAM Akademi Dergisi 11/2 (Temmuz 2024), 611-625. https://doi.org/10.30626/tesamakademi.1264780.
JAMA Çetin H, Sürmen YE. The Relationship Between Cryptocurrencies and the Trade Balance of Nigeria. TESAM Akademi Dergisi. 2024;11:611–625.
MLA Çetin, Hüseyin ve Yunus Emre Sürmen. “The Relationship Between Cryptocurrencies and the Trade Balance of Nigeria”. TESAM Akademi Dergisi, c. 11, sy. 2, 2024, ss. 611-25, doi:10.30626/tesamakademi.1264780.
Vancouver Çetin H, Sürmen YE. The Relationship Between Cryptocurrencies and the Trade Balance of Nigeria. TESAM Akademi Dergisi. 2024;11(2):611-25.