Bitcoin price growth and Indonesia's monetary system

Narayan, Paresh Kumar; Narayan, Seema; Rahman, R. Eki; Setiawan, Iwan

doi:10.1016/j.ememar.2018.11.005

Cited by 40 publications

(25 citation statements)

References 41 publications

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“…This result is not uncommon. With monthly data, Narayan et al (2018) suggest the presence of a Phillips curve.…”

Section: Inflation Modelsmentioning

confidence: 97%

“…The traditional determinants of inflation are significant in Narayan et al (2018), which uses monthly data. Here, with annual data, the traditional determinants of inflation are mainly insignificant (model 1).…”

Section: Inflation Modelsmentioning

confidence: 99%

“…Since it uses business models that differ from the traditional approach to providing financial services, the FinTech sector poses significant challenges for financial regulators, calling for changes in the financial regulatory and supervision systems (Bromberg, Godwin and Ramsay, 2017;Chui, 2017;Temelkov, 2018). Financial innovations, such as digital coins (e.g., Bitcoin), can pose significant challenges for monetary policy as well (Narayan et al, 2018). Further, financial innovation usually leads to higher credit creation, which increases systemic risk.…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Has Fintech Influenced Indonesia’s Exchange Rate and Inflation?

Narayan¹,

Sahminan²

2018

BEMP

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The digital financial services industry or financial technology (FinTech) has emerged in Indonesia in recent years. The FinTech industry, although disruptive, promises among other things to reduce costs of, and improve access to, financial services. This paper investigates the macroeconomic implications of FinTech companies in Indonesia over the period 1998-2017. In particular, we investigate the impact of FinTech on the Indonesian exchange rate (Rupiah vis-a-vis the US dollar) and the inflation rate. Our results suggest that FinTech is able to reduce inflation and lead to a real appreciation of the Rupiah against the US dollar, although its effect on the exchange rate is delayed. We explain our results and discuss future research directions in the paper.

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“…This result is not uncommon. With monthly data, Narayan et al (2018) suggest the presence of a Phillips curve.…”

Section: Inflation Modelsmentioning

confidence: 97%

Section: Inflation Modelsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Has Fintech Influenced Indonesia’s Exchange Rate and Inflation?

Narayan¹,

Sahminan²

2018

BEMP

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“…Based on research (Narayan, Narayan, Eki Rahman, & Setiawan, 2019) found that when there is an increase in bitcoin price growth, an increase in inflation the exchange rate will appreciate, and the velocity of money will decrease. Based on these findings it can be concluded that the growth of bitcoin prices is very much for the monetary system in Indonesia.…”

Section: Figure 1 Development Of Bitcoin Price Year 2012-2019mentioning

confidence: 99%

Causality of the Growth of Bitcoin Prices with Monetary Conditions in Indonesia

Aimon¹,

Putra²,

Husein³

2020

Proceedings of the 4th Padang International Conference on Education, Economics, Business and Accounting (PICEEBA-2 2019)

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Virtual currency has been a hot topic for discussion lately. One of the popular virtual currencies is bitcoin which has a status as a commodity in Indonesia today. The purpose of this study is to determine whether there is influence and causality between bitcoin and monetary variables in Indonesia. The study used time series data in monthly form March 2012 to July 2019. The study used Johnsen's co integration test, vector auto regression estimation, granger causality test, forecasting with Impulse Response Function (IRF), and decomposition variance analysis. In this research, it is known that in the long run the growth of bitcoin prices, the exchange rate, inflation, the price of gold, and interest rates does not have balance and similarity in movement. Causally there is a direct relationship between the price of gold and the exchange rate with the consumer price index. In the VAR estimation it is known that bitcoin price growth affects the consumer price index in Indonesia, and the consumer price index affects the price of gold. In impulse response function forecasting there are positive and negative responses of each variable in the study of other variables. In decomposition variance analysis, it is known that the contribution of influence of a variable is more dominated by the variable itself when shock or shock occurs.

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“…Otra experiencia positiva en esta dirección la tiene el turismo en Grecia, el cual ofrece servicios de hotel, vuelos y precios especiales para viajeros frecuentes en el que se puede pagar con Bitcoin (Pilkington et al, 2018). En contraste, otros autores afirman que la volatilidad del Bitcoin conduce al crecimiento de la inflación y la depreciación de la moneda (Narayan et al, 2018).…”

Section: La Potencialidad De Las Criptomonedas Como Herramienta Para unclassified

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Bitcoin price growth and Indonesia's monetary system

Cited by 40 publications

References 41 publications

Has Fintech Influenced Indonesia’s Exchange Rate and Inflation?

Has Fintech Influenced Indonesia’s Exchange Rate and Inflation?

Causality of the Growth of Bitcoin Prices with Monetary Conditions in Indonesia

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