The Impact of Cryptocurrency Trading on Economic Growth in GCC Countries: An Empirical Analysis
subject: Blockchain technology; Cryptocurrency trading; GCC countries; GDP
description: This study explores the impact of cryptocurrency trading on economic growth in Gulf Cooperation Council (GCC) countries from 2016 to 2019, with GDP as the measure of economic growth. The analysis reveals a substantial positive relationship between cryptocurrency trading volume and GDP using Ordinary Least Squares (OLS) and Generalized Linear Models (GLM) regression techniques. The analysis underscores the role of increased cryptocurrency market activity in fostering economic growth and advancing the GCC economies integration into global financial frameworks. This highlights the transformative potential of cryptocurrencies as a driver of economic progress within the region. The Author(s), under exclusive license to Springer Nature Switzerland AG 2025.
creator: Nomran, Naji Mansour; Shaikh, Zakir Hossen; Irfan, Mohammad; Vemavarapu, Koteswara Rao; Anto, Manolo L.
source: Studies in Big Data;Volume;170;pp.643-650
publisher: Springer Science and Business Media Deutschland GmbH
date: 01-01-2025
rights: Restricted Access; Hardcopy may be available in the library
relation: ISSN: 21976503;
language: English
type: Book chapter
coverage: Nomran N.M., Department of Finance and Accounting, College of Business Administration, Kingdom University, Riffa, Bahrain; Shaikh Z.H., Department of Finance and Accounting, College of Business Administration, Kingdom University, Riffa, Bahrain; Irfan M., Christ University, Bangalore, India; Vemavarapu K.R., School of Business & Logistics Bahrain Polytechnic, Isa Town, Bahrain; Anto M.L., Department of Business Management, College of Business Administration, Kingdom University, Riffa, Bahrain