Negative elements of cryptocurrencies: Exploring the drivers of Bitcoin carbon footprints☆
| dc.contributor.author | Long, Suwan | |
| dc.contributor.author | Lucey, Brian | |
| dc.contributor.author | Zhang, Dayong | |
| dc.contributor.author | Zhang, Zhiwei | |
| dc.date.accessioned | 2024-05-28T06:40:46Z | |
| dc.date.available | 2024-05-28T06:40:46Z | |
| dc.date.issued | 2023-12 | |
| dc.description | Anthropogenic global warming is a multi-causal event. One element, by no means trivial, is the growth of energy intensive cryptocurrencies. These have significant global warming potential (Mora et al., 2018). While their effect is now known (Zhang et al., 2023), to date there has been little research on linking their prices with the associated carbon emissions. The cryptocurrency markets are also characterized by significant volatility and inter-connected with other financial assets (Ji et al., 2022), which leads to extensive research from a financial perspective (for example Corbet et al., 2018, Ji et al., 2020, Urquhart and Lucey, 2022). | |
| dc.description.abstract | This paper adopts an interactive network approach to investigate the factors driving the carbon footprint of Bitcoin, a negative aspect of cryptocurrencies. Our findings demonstrate that the dynamics of Bitcoin prices, including both returns and volatility, have a significant impact on the system comprising carbon emissions, energy prices, carbon prices, and financial indicators. During the first two years of the COVID-19 pandemic period, the spillover effects are observed to be particularly strong. Furthermore, we find that the dynamics of Bitcoin prices play a crucial role in driving its associated carbon emissions. keywords: Bitcoin; Carbon footprint; COVID-19; Cryptocurrency; Emissions | |
| dc.identifier.citation | Long, S. C., Lucey, B., Zhang, D., & Zhang, Z. (2023). Negative elements of cryptocurrencies: Exploring the drivers of Bitcoin carbon footprints. Finance Research Letters, 58, 104031. | |
| dc.identifier.doi | https://doi.org/10.1016/j.frl.2023.104031 | |
| dc.identifier.uri | https://dspace.adu.ac.ae/handle/1/5458 | |
| dc.language.iso | en | |
| dc.publisher | Science Direct | |
| dc.title | Negative elements of cryptocurrencies: Exploring the drivers of Bitcoin carbon footprints☆ | |
| dc.type | Article |
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