Money-prospects of Cryptocurrencies - A Bibliometric Review
Keywords:
bibliometric, bitcoin, cryptocurrencies, Islam, money
Abstract
Abstract Views: 379
The status of the money-prospects of cryptocurrencies in both conventional and Shari’ah based literature remains hotly debated and largely indecisive. We apply/used the bibliometric approach to review the literature on/regarding the money-prospects of cryptocurrencies. We selected 264 articles published during the years 2011-2021 from Web of Science (WoS) through systematic screening to explore their influential and intellectual aspects. Bibliometric citation analysis was conducted to present/identify influential research categories, leading authors, top articles, prominent countries, and major journals within the sample. We also highlighted the trend of annual scientific production to show sustained growth in the area under research. Furthermore, keyword analysis and bibliometric coupling analysis were applied/carried out to generate networks to highlight the intellectual aspects of the money-prospects of cryptocurrencies. We used the networks of emerging themes and main clusters to conduct content analysis further. We included and reviewed studies which discussed the money-prospects of cryptocurrencies in the light of Shari’ah precepts in relevant clusters. We also identified potential future research areas (cluster-wise). Theis study helps the researchers to understand the evolution, dimensions, and emerging themes regarding the money-prospects of cryptocurrencies.
Keywords
Bibliometric, Bitcoin, Cryptocurrencies, Islam, Money
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References
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Andrada-Félix, J., Fernandez-Perez, A., & Sosvilla-Rivero, S. (2020). Distant or close cousins: Connectedness between cryptocurrencies and traditional currencies volatilities. Journal of International Financial Markets, Institutions and Money, 67. https://doi.org/10.1016/j.intfin.2020.101219
Andrade, J. G., & Brandalise, N. (2019). Volatility behavior of virtual currencies. Independent Journal of Management & Production, 10(2), 537. https://doi.org/10.14807/ijmp.v10i2.852
Anthony Jnr, B., & Abbas Petersen, S. (2021). Examining the digitalisation of virtual enterprises amidst the COVID-19 pandemic: a systematic and meta-analysis. Enterprise Information Systems, 15(5), 617–650. https://doi.org/10.1080/17517575.2020.1829075
Aria, M., & Cuccurullo, C. (2017). bibliometrix: An R-tool for comprehensive science mapping analysis. Journal of Informetrics, 11(4), 959–975. https://doi.org/10.1016/j.joi.2017.08.007
Assaf, M. M. (2019). Cryptocurrency According to the Objectives of Islamic Law: Bitcoin as a Case Study. مجلة كلية الشريعة و الدراسات الإسلامية, 36(2), 21–48. https://doi.org/10.29117/jcsis.2019.0215
Baker, M., & Semai, M. (2020). The legal cause of “holding value” and its impact on islamic provisions regarding virtual currencies. Religions, 11(7), 1–11. https://doi.org/10.3390/rel11070339
Bal, A. (2015). Taxing virtual currency: challenges and solutions. Intertax, 43(5), 380–394.
Bal, A. (2019). Developing a regulatory framework for the taxation of virtual currencies. Intertax, 47(2), 219–233.
Baur, D. G., & Dimpfl, T. (2021). The volatility of Bitcoin and its role as a medium of exchange and a store of value. Empirical Economics. https://doi.org/10.1007/s00181-020-01990-5
Baur, D. G., Hong, K. H., & Lee, A. D. (2018). Bitcoin: Medium of exchange or speculative assets? Journal of International Financial Markets, Institutions and Money, 54, 177–189. https://doi.org/10.1016/j.intfin.2017.12.004
Blau, B. M. (2018). Price dynamics and speculative trading in Bitcoin. Research in International Business and Finance, 43, 15–21. https://doi.org/10.1016/j.ribaf.2017.07.183
Böhme, R., Christin, N., Edelman, B., & Moore, T. (2015). Bitcoin: Economics, technology, and governance. Journal of Economic Perspectives, 29(2), 213–238. https://doi.org/10.1257/jep.29.2.213
Bouoiyour, J., & Selmi, R. (2016). Bitcoin: A beginning of a new phase? Economics Bulletin, 36(3), 1430–1440.
Bryans, D. (2014). Bitcoin and Money Laundering: Mining for an Effective Solution. Indiana Law Journal, 89(1), 441–472.
Burggraf, T., Huynh, T. L. D., Rudolf, M., & Wang, M. (2020). Do FEARS drive Bitcoin? Review of Behavioral Finance, 13(3), 229–258. https://doi.org/10.1108/RBF-11-2019-0161
Caliskan, K. (2020). Data money: The socio-technical infrastructure of cryptocurrency blockchains. Economy and Society, 49(4), 540–561. https://doi.org/10.1080/03085147.2020.1774258
Carrick, J. (2016). Bitcoin as a Complement to Emerging Market Currencies. Emerging Markets Finance and Trade, 52(10), 2321–2334. https://doi.org/10.1080/1540496X.2016.1193002
Caton, J. L. (2020). Cryptoliquidity: the blockchain and monetary stability. Journal of Entrepreneurship and Public Policy, 9(2), 227–252. https://doi.org/10.1108/JEPP-03-2019-0011
Cheah, E. T., & Fry, J. (2015). Speculative bubbles in Bitcoin markets? An empirical investigation into the fundamental value of Bitcoin. Economics Letters, 130, 32–36. https://doi.org/10.1016/j.econlet.2015.02.029
Chemkha, R., BenSaïda, A., & Ghorbel, A. (2021). Connectedness between cryptocurrencies and foreign exchange markets: Implication for risk management. Journal of Multinational Financial Management, 59. https://doi.org/10.1016/j.mulfin.2020.100666
Ciaian, P., Rajcaniova, M., & Kancs, d’Artis A. (2016a). The digital agenda of virtual currencies: Can BitCoin become a global currency? Information Systems and E-Business Management, 14(4), 883–919. https://doi.org/10.1007/s10257-016-0304-0
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Published
2021-12-27
How to Cite
Afzal, M. S., & Bhatti, A. A. (2021). Money-prospects of Cryptocurrencies - A Bibliometric Review. Islamic Banking and Finance Review, 8(2), 1-35. https://doi.org/10.32350/ibfr.82.01
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Copyright (c) 2022 Muhammad Suleman Afzal, Arshad Ali Bhatti
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