Analyzing asymmetric effects of cryptocurrency demand on environmental sustainability.
Asymmetric causality
Bitcoin (BTC)
Cryptocurrency
Environmental sustainability
Ethereum (ETH)
Ripple (XRP)
Journal
Environmental science and pollution research international
ISSN: 1614-7499
Titre abrégé: Environ Sci Pollut Res Int
Pays: Germany
ID NLM: 9441769
Informations de publication
Date de publication:
May 2022
May 2022
Historique:
received:
29
09
2021
accepted:
03
12
2021
pubmed:
12
1
2022
medline:
4
5
2022
entrez:
11
1
2022
Statut:
ppublish
Résumé
When bitcoin (BTC), the first pioneering cryptocurrency was released in 2009, it was considered an apolitical currency. Besides, the possible effect of BTC and other cryptocurrencies on either financial markets or transactions has been widely discussed. However, the environmental effects of cryptocurrency demand have been ignored. Here, this study examines the nexus between cryptocurrencies and environmental degradation by employing standard and asymmetric causality methods. The Toda-Yamamoto and bootstrap-augmented Toda-Yamamoto test results reveal Bitcoin and Ethereum (ETH) excluding Ripple (XRP) have causal effects on environmental degradation. The Fourier-augmented Toda-Yamamoto test results show causal effects running from Bitcoin and Ripple to environmental degradation, whereas no causal effect runs from Ethereum to environmental degradation. The asymmetric causality shows causal effects from the positive shock of Bitcoin demand, negative shocks of Ripple and Ethereum demands to positive shocks of environmental degradation. Further discussions and policy implications are provided in the relevant sections of this study.
Identifiants
pubmed: 35013947
doi: 10.1007/s11356-021-17998-y
pii: 10.1007/s11356-021-17998-y
pmc: PMC8747876
doi:
Types de publication
Journal Article
Langues
eng
Sous-ensembles de citation
IM
Pagination
31723-31733Informations de copyright
© 2021. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.
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