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首页> 外文期刊>Journal of Financial Economic Policy >The impact of cryptocurrencies market development on banks' deposits variability in the GCC region
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The impact of cryptocurrencies market development on banks' deposits variability in the GCC region

机译：加密货币市场发展对银行存款GCC地区的变异影响

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Purpose - With the continuing development of the financial technology revolution, a better understanding of bank deposits variability has become necessary for bank management and policymakers, especially central banks. This is because the novel innovations of cryptocurrencies operate beyond the realm of the banking system, which may impact the performance of banks and their deposits variability. This study aims to investigate the long- and short-run effects of cryptocurrencies' market capitalization development on the banks' deposit variability in the Gulf Cooperation Council (GCC) region. Design/methodology/approach - In this study, the Johansen-Juselius (1990) cointegration test with vector error correction model was applied to examine the long-run relationships, while the Engle and Granger (1987) and the Granger (1969) causality tests were used to detect causal relationships in the short term. Findings - The findings of Johansen-Juselius cointegration test indicate that the banks' deposits variability in all six states of the Gulf region share negative long-run equilibrium association with the development of global cryptocurrencies market capitalization, but with different statistically significant levels. For the short-run analysis, the study found that the development of cryptocurrencies market capitalization has significant unidirectional causal effects on bank deposits variabilities in only four states, namely, UAE, Qatar, Kuwait and Bahrain. The findings of the study therefore suggest that to eradicate the effects of cryptocurrencies industry and its threats to the banking industry, banks in GCC region are encouraged to either consider cryptocurrencies as an alternative investment asset for their portfolio investment diversification strategies or adopt the blockchain technology in their operation system to facilitate their customers with low transaction cost, high level of security and ease of use and real-time settlement. Research limitations/implications - The empirical findings of the study will provide valuable input for policymakers, especially central banks and bank managements, to evaluate the current situation and the threats of the cryptocurrencies market growth and its effect on the banking industry's performance, future survival and their deposits variability for better regulation and policy planning and investment strategies. Originality/value - This is a pioneering study that empirically explores the phenomenon of bank deposits variability as a consequence of expansion in cryptocurrencies market capitalization, where the findings proved evidence of a drastic decline in banks' deposits size due to the substantial growth in cryptocurrencies market capitalization.
机译：目的 - 随着金融技术革命的持续发展，对银行管理和政策制定者，尤其是央行，对银行存款变异性更好地了解。这是因为加密货币的新型创新超出了银行系统的领域，这可能影响银行的性能及其存款变异性。本研究旨在调查加密货币市场资本化发展对海湾合作委员会（GCC）地区银行存款变异性的长期和短期影响。设计/方法/方法 - 在本研究中，应用了与向量纠错模型的Johansen-Juselius（1990）协整测试，以检查长期关系，而恩格尔和格兰杰（1987）和Granger（1969）因果试验用于检测短期内的因果关系。调查结果 - 约翰森-Juselius协整试验的调查结果表明，银行在海湾地区的所有六个国家的可变异性与全球加密货币市场资本化的发展共享负持久的均衡协会，但具有不同的统计学上显着性。对于短期分析，研究发现，加密货币市场资本化的发展对银行存款可变性的显着单向因果效应仅为四个州，即阿联酋，卡塔尔，科威特和巴林。因此，该研究的调查结果表明，消除了加密货行业的影响及其对银行业的威胁，鼓励GCC地区的银行将加密货币视为其投资组合投资多样化战略的替代投资资产或采用区块链技术他们的操作系统，以促进其客户的交易成本低，安全性高，使用易用性和实时结算。研究限制/影响 - 该研究的实证发现将为政策制定者，特别是央行和银行管理提供有价值的投入，以评估当前的情况和加密货币市场增长的威胁及其对银行业的表现，未来生存的影响他们的存款可变异，以获得更好的监管和政策规划和投资策略。原创性/价值 - 这是一个先进的研究，经验上探讨了由于加密货币市场资本化的扩张而导致的银行存款变异性的现象，这些结果证明了由于加密货币市场的大量增长，因此证明银行存款规模急剧下降资本化。

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