Analyzing asymmetric effects of cryptocurrency demand on environmental sustainability

When bitcoin (BTC), the first pioneering cryptocurrency was released in 2009, it was considered an apolitical currency. Besides, the possible effect of BTC and other cryptocurrencies on either financial markets or transactions has been widely discussed. However, the environmental effects of cryptocu...

Full description

Saved in:
Bibliographic Details
Published in:Environmental science and pollution research international 2022-05, Vol.29 (21), p.31723-31733
Main Authors: Erdogan, Sinan, Ahmed, Maruf Yakubu, Sarkodie, Samuel Asumadu
Format: Article
Language:English
Subjects:
Alternative energy sources
Aquatic Pollution
Asymmetry
Atmospheric Protection/Air Quality Control/Air Pollution
Blockchain
Carbon
Causality
Climate change
Coal
Demand
Digital currencies
Earth and Environmental Science
Ecotoxicology
Emissions
Energy consumption
Energy efficiency
Energy resources
Environment
Environmental Chemistry
Environmental degradation
Environmental effects
Environmental Health
Environmental impact
Environmental science
Policy
Power
Profits
Research Article
Sustainable development
Waste Water Technology
Water Management
Water Pollution Control
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
cited_by cdi_FETCH-LOGICAL-c474t-f2e3c6f45c3b88ce6c808ac1ae2b4714a1c7361bcb950940b3f5231419e9bba33
cites cdi_FETCH-LOGICAL-c474t-f2e3c6f45c3b88ce6c808ac1ae2b4714a1c7361bcb950940b3f5231419e9bba33
container_end_page 31733
container_issue 21
container_start_page 31723
container_title Environmental science and pollution research international
container_volume 29
creator Erdogan, Sinan
Ahmed, Maruf Yakubu
Sarkodie, Samuel Asumadu
description When bitcoin (BTC), the first pioneering cryptocurrency was released in 2009, it was considered an apolitical currency. Besides, the possible effect of BTC and other cryptocurrencies on either financial markets or transactions has been widely discussed. However, the environmental effects of cryptocurrency demand have been ignored. Here, this study examines the nexus between cryptocurrencies and environmental degradation by employing standard and asymmetric causality methods. The Toda-Yamamoto and bootstrap-augmented Toda-Yamamoto test results reveal Bitcoin and Ethereum (ETH) excluding Ripple (XRP) have causal effects on environmental degradation. The Fourier-augmented Toda-Yamamoto test results show causal effects running from Bitcoin and Ripple to environmental degradation, whereas no causal effect runs from Ethereum to environmental degradation. The asymmetric causality shows causal effects from the positive shock of Bitcoin demand, negative shocks of Ripple and Ethereum demands to positive shocks of environmental degradation. Further discussions and policy implications are provided in the relevant sections of this study.
doi_str_mv 10.1007/s11356-021-17998-y
format article
fullrecord <record><control><sourceid>proquest_pubme</sourceid><recordid>TN_cdi_pubmedcentral_primary_oai_pubmedcentral_nih_gov_8747876</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>2618904356</sourcerecordid><originalsourceid>FETCH-LOGICAL-c474t-f2e3c6f45c3b88ce6c808ac1ae2b4714a1c7361bcb950940b3f5231419e9bba33</originalsourceid><addsrcrecordid>eNp9kUFP3DAQha2KqizQP8ChisSll1BP7MTxpRJaUUBC6oU9W7Z3sjVK7K2dIIVfj-nSLeXAaQ7zzZuZ9wg5BXoOlIpvCYDVTUkrKEFI2ZbzB7KABngpuJQHZEEl5yUwzg_JUUr3lFZUVuITOWQ1BSa5WJDVhdf9_Oj8ptBpHgYco7MFdh3aMRWhK2yct2OwU4zo7VyscdB-XQRfoH9wMfgB_aj7Ik1p1M5r43o3zifkY6f7hJ9f6jFZ_bi8W16Xtz-vbpYXt6Xlgo9lVyGzTcdry0zbWmxsS1ttQWNluACuwQrWgLFG1vkXalhXVww4SJTGaMaOyfed7nYyA65tviXqXm2jG3ScVdBO_d_x7pfahAfVCi5a0WSBry8CMfyeMI1qcMli32uPYUqqaqCVlGebM3r2Br0PU8zuPVN1I7PnNWSq2lE2hpQidvtjgKrn1NQuNZVTU39SU3Me-vL6jf3I35gywHZAyi2_wfhv9zuyT8QTpiI</addsrcrecordid><sourcetype>Open Access Repository</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>2656974951</pqid></control><display><type>article</type><title>Analyzing asymmetric effects of cryptocurrency demand on environmental sustainability</title><source>ABI/INFORM global</source><source>Springer Link</source><creator>Erdogan, Sinan ; Ahmed, Maruf Yakubu ; Sarkodie, Samuel Asumadu</creator><creatorcontrib>Erdogan, Sinan ; Ahmed, Maruf Yakubu ; Sarkodie, Samuel Asumadu</creatorcontrib><description>When bitcoin (BTC), the first pioneering cryptocurrency was released in 2009, it was considered an apolitical currency. Besides, the possible effect of BTC and other cryptocurrencies on either financial markets or transactions has been widely discussed. However, the environmental effects of cryptocurrency demand have been ignored. Here, this study examines the nexus between cryptocurrencies and environmental degradation by employing standard and asymmetric causality methods. The Toda-Yamamoto and bootstrap-augmented Toda-Yamamoto test results reveal Bitcoin and Ethereum (ETH) excluding Ripple (XRP) have causal effects on environmental degradation. The Fourier-augmented Toda-Yamamoto test results show causal effects running from Bitcoin and Ripple to environmental degradation, whereas no causal effect runs from Ethereum to environmental degradation. The asymmetric causality shows causal effects from the positive shock of Bitcoin demand, negative shocks of Ripple and Ethereum demands to positive shocks of environmental degradation. Further discussions and policy implications are provided in the relevant sections of this study.</description><identifier>ISSN: 0944-1344</identifier><identifier>EISSN: 1614-7499</identifier><identifier>DOI: 10.1007/s11356-021-17998-y</identifier><identifier>PMID: 35013947</identifier><language>eng</language><publisher>Berlin/Heidelberg: Springer Berlin Heidelberg</publisher><subject>Alternative energy sources ; Aquatic Pollution ; Asymmetry ; Atmospheric Protection/Air Quality Control/Air Pollution ; Blockchain ; Carbon ; Causality ; Climate change ; Coal ; Demand ; Digital currencies ; Earth and Environmental Science ; Ecotoxicology ; Emissions ; Energy consumption ; Energy efficiency ; Energy resources ; Environment ; Environmental Chemistry ; Environmental degradation ; Environmental effects ; Environmental Health ; Environmental impact ; Environmental science ; Policy ; Power ; Profits ; Research Article ; Sustainable development ; Waste Water Technology ; Water Management ; Water Pollution Control</subject><ispartof>Environmental science and pollution research international, 2022-05, Vol.29 (21), p.31723-31733</ispartof><rights>The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2021</rights><rights>2021. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.</rights><rights>The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2021.</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c474t-f2e3c6f45c3b88ce6c808ac1ae2b4714a1c7361bcb950940b3f5231419e9bba33</citedby><cites>FETCH-LOGICAL-c474t-f2e3c6f45c3b88ce6c808ac1ae2b4714a1c7361bcb950940b3f5231419e9bba33</cites><orcidid>0000-0003-3491-8234</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.proquest.com/docview/2656974951/fulltextPDF?pq-origsite=primo$$EPDF$$P50$$Gproquest$$H</linktopdf><linktohtml>$$Uhttps://www.proquest.com/docview/2656974951?pq-origsite=primo$$EHTML$$P50$$Gproquest$$H</linktohtml><link.rule.ids>230,314,780,784,885,11688,27924,27925,36060,36061,44363,74895</link.rule.ids><backlink>$$Uhttps://www.ncbi.nlm.nih.gov/pubmed/35013947$$D View this record in MEDLINE/PubMed$$Hfree_for_read</backlink></links><search><creatorcontrib>Erdogan, Sinan</creatorcontrib><creatorcontrib>Ahmed, Maruf Yakubu</creatorcontrib><creatorcontrib>Sarkodie, Samuel Asumadu</creatorcontrib><title>Analyzing asymmetric effects of cryptocurrency demand on environmental sustainability</title><title>Environmental science and pollution research international</title><addtitle>Environ Sci Pollut Res</addtitle><addtitle>Environ Sci Pollut Res Int</addtitle><description>When bitcoin (BTC), the first pioneering cryptocurrency was released in 2009, it was considered an apolitical currency. Besides, the possible effect of BTC and other cryptocurrencies on either financial markets or transactions has been widely discussed. However, the environmental effects of cryptocurrency demand have been ignored. Here, this study examines the nexus between cryptocurrencies and environmental degradation by employing standard and asymmetric causality methods. The Toda-Yamamoto and bootstrap-augmented Toda-Yamamoto test results reveal Bitcoin and Ethereum (ETH) excluding Ripple (XRP) have causal effects on environmental degradation. The Fourier-augmented Toda-Yamamoto test results show causal effects running from Bitcoin and Ripple to environmental degradation, whereas no causal effect runs from Ethereum to environmental degradation. The asymmetric causality shows causal effects from the positive shock of Bitcoin demand, negative shocks of Ripple and Ethereum demands to positive shocks of environmental degradation. Further discussions and policy implications are provided in the relevant sections of this study.</description><subject>Alternative energy sources</subject><subject>Aquatic Pollution</subject><subject>Asymmetry</subject><subject>Atmospheric Protection/Air Quality Control/Air Pollution</subject><subject>Blockchain</subject><subject>Carbon</subject><subject>Causality</subject><subject>Climate change</subject><subject>Coal</subject><subject>Demand</subject><subject>Digital currencies</subject><subject>Earth and Environmental Science</subject><subject>Ecotoxicology</subject><subject>Emissions</subject><subject>Energy consumption</subject><subject>Energy efficiency</subject><subject>Energy resources</subject><subject>Environment</subject><subject>Environmental Chemistry</subject><subject>Environmental degradation</subject><subject>Environmental effects</subject><subject>Environmental Health</subject><subject>Environmental impact</subject><subject>Environmental science</subject><subject>Policy</subject><subject>Power</subject><subject>Profits</subject><subject>Research Article</subject><subject>Sustainable development</subject><subject>Waste Water Technology</subject><subject>Water Management</subject><subject>Water Pollution Control</subject><issn>0944-1344</issn><issn>1614-7499</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2022</creationdate><recordtype>article</recordtype><sourceid>M0C</sourceid><recordid>eNp9kUFP3DAQha2KqizQP8ChisSll1BP7MTxpRJaUUBC6oU9W7Z3sjVK7K2dIIVfj-nSLeXAaQ7zzZuZ9wg5BXoOlIpvCYDVTUkrKEFI2ZbzB7KABngpuJQHZEEl5yUwzg_JUUr3lFZUVuITOWQ1BSa5WJDVhdf9_Oj8ptBpHgYco7MFdh3aMRWhK2yct2OwU4zo7VyscdB-XQRfoH9wMfgB_aj7Ik1p1M5r43o3zifkY6f7hJ9f6jFZ_bi8W16Xtz-vbpYXt6Xlgo9lVyGzTcdry0zbWmxsS1ttQWNluACuwQrWgLFG1vkXalhXVww4SJTGaMaOyfed7nYyA65tviXqXm2jG3ScVdBO_d_x7pfahAfVCi5a0WSBry8CMfyeMI1qcMli32uPYUqqaqCVlGebM3r2Br0PU8zuPVN1I7PnNWSq2lE2hpQidvtjgKrn1NQuNZVTU39SU3Me-vL6jf3I35gywHZAyi2_wfhv9zuyT8QTpiI</recordid><startdate>20220501</startdate><enddate>20220501</enddate><creator>Erdogan, Sinan</creator><creator>Ahmed, Maruf Yakubu</creator><creator>Sarkodie, Samuel Asumadu</creator><general>Springer Berlin Heidelberg</general><general>Springer Nature B.V</general><scope>CGR</scope><scope>CUY</scope><scope>CVF</scope><scope>ECM</scope><scope>EIF</scope><scope>NPM</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>3V.</scope><scope>7QL</scope><scope>7SN</scope><scope>7T7</scope><scope>7TV</scope><scope>7U7</scope><scope>7WY</scope><scope>7WZ</scope><scope>7X7</scope><scope>7XB</scope><scope>87Z</scope><scope>88E</scope><scope>88I</scope><scope>8AO</scope><scope>8C1</scope><scope>8FD</scope><scope>8FI</scope><scope>8FJ</scope><scope>8FK</scope><scope>8FL</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>ATCPS</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>BHPHI</scope><scope>C1K</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FR3</scope><scope>FRNLG</scope><scope>FYUFA</scope><scope>F~G</scope><scope>GHDGH</scope><scope>GNUQQ</scope><scope>HCIFZ</scope><scope>K60</scope><scope>K6~</scope><scope>K9.</scope><scope>L.-</scope><scope>M0C</scope><scope>M0S</scope><scope>M1P</scope><scope>M2P</scope><scope>M7N</scope><scope>P64</scope><scope>PATMY</scope><scope>PQBIZ</scope><scope>PQBZA</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PYCSY</scope><scope>Q9U</scope><scope>7X8</scope><scope>5PM</scope><orcidid>https://orcid.org/0000-0003-3491-8234</orcidid></search><sort><creationdate>20220501</creationdate><title>Analyzing asymmetric effects of cryptocurrency demand on environmental sustainability</title><author>Erdogan, Sinan ; Ahmed, Maruf Yakubu ; Sarkodie, Samuel Asumadu</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c474t-f2e3c6f45c3b88ce6c808ac1ae2b4714a1c7361bcb950940b3f5231419e9bba33</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2022</creationdate><topic>Alternative energy sources</topic><topic>Aquatic Pollution</topic><topic>Asymmetry</topic><topic>Atmospheric Protection/Air Quality Control/Air Pollution</topic><topic>Blockchain</topic><topic>Carbon</topic><topic>Causality</topic><topic>Climate change</topic><topic>Coal</topic><topic>Demand</topic><topic>Digital currencies</topic><topic>Earth and Environmental Science</topic><topic>Ecotoxicology</topic><topic>Emissions</topic><topic>Energy consumption</topic><topic>Energy efficiency</topic><topic>Energy resources</topic><topic>Environment</topic><topic>Environmental Chemistry</topic><topic>Environmental degradation</topic><topic>Environmental effects</topic><topic>Environmental Health</topic><topic>Environmental impact</topic><topic>Environmental science</topic><topic>Policy</topic><topic>Power</topic><topic>Profits</topic><topic>Research Article</topic><topic>Sustainable development</topic><topic>Waste Water Technology</topic><topic>Water Management</topic><topic>Water Pollution Control</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Erdogan, Sinan</creatorcontrib><creatorcontrib>Ahmed, Maruf Yakubu</creatorcontrib><creatorcontrib>Sarkodie, Samuel Asumadu</creatorcontrib><collection>Medline</collection><collection>MEDLINE</collection><collection>MEDLINE (Ovid)</collection><collection>MEDLINE</collection><collection>MEDLINE</collection><collection>PubMed</collection><collection>CrossRef</collection><collection>ProQuest Central (Corporate)</collection><collection>Bacteriology Abstracts (Microbiology B)</collection><collection>Ecology Abstracts</collection><collection>Industrial and Applied Microbiology Abstracts (Microbiology A)</collection><collection>Pollution Abstracts</collection><collection>Toxicology Abstracts</collection><collection>ABI/INFORM Collection</collection><collection>ABI/INFORM Global (PDF only)</collection><collection>Health &amp; Medicine (ProQuest)</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>ABI/INFORM Collection</collection><collection>Medical Database (Alumni Edition)</collection><collection>Science Database (Alumni Edition)</collection><collection>ProQuest Pharma Collection</collection><collection>Public Health Database</collection><collection>Technology Research Database</collection><collection>Hospital Premium Collection</collection><collection>Hospital Premium Collection (Alumni Edition)</collection><collection>ProQuest Central (Alumni) (purchase pre-March 2016)</collection><collection>ABI/INFORM Collection (Alumni Edition)</collection><collection>ProQuest Central (Alumni)</collection><collection>ProQuest Central</collection><collection>Agricultural &amp; Environmental Science Collection</collection><collection>ProQuest Central Essentials</collection><collection>ProQuest Central</collection><collection>Business Premium Collection</collection><collection>ProQuest Natural Science Collection</collection><collection>Environmental Sciences and Pollution Management</collection><collection>ProQuest One Community College</collection><collection>ProQuest Central</collection><collection>Engineering Research Database</collection><collection>Business Premium Collection (Alumni)</collection><collection>Health Research Premium Collection</collection><collection>ABI/INFORM Global (Corporate)</collection><collection>Health Research Premium Collection (Alumni)</collection><collection>ProQuest Central Student</collection><collection>SciTech Premium Collection</collection><collection>ProQuest Business Collection (Alumni Edition)</collection><collection>ProQuest Business Collection</collection><collection>ProQuest Health &amp; Medical Complete (Alumni)</collection><collection>ABI/INFORM Professional Advanced</collection><collection>ABI/INFORM global</collection><collection>Health &amp; Medical Collection (Alumni Edition)</collection><collection>Medical Database</collection><collection>Science Database</collection><collection>Algology Mycology and Protozoology Abstracts (Microbiology C)</collection><collection>Biotechnology and BioEngineering Abstracts</collection><collection>Environmental Science Database</collection><collection>ProQuest One Business</collection><collection>ProQuest One Business (Alumni)</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>Environmental Science Collection</collection><collection>ProQuest Central Basic</collection><collection>MEDLINE - Academic</collection><collection>PubMed Central (Full Participant titles)</collection><jtitle>Environmental science and pollution research international</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Erdogan, Sinan</au><au>Ahmed, Maruf Yakubu</au><au>Sarkodie, Samuel Asumadu</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Analyzing asymmetric effects of cryptocurrency demand on environmental sustainability</atitle><jtitle>Environmental science and pollution research international</jtitle><stitle>Environ Sci Pollut Res</stitle><addtitle>Environ Sci Pollut Res Int</addtitle><date>2022-05-01</date><risdate>2022</risdate><volume>29</volume><issue>21</issue><spage>31723</spage><epage>31733</epage><pages>31723-31733</pages><issn>0944-1344</issn><eissn>1614-7499</eissn><abstract>When bitcoin (BTC), the first pioneering cryptocurrency was released in 2009, it was considered an apolitical currency. Besides, the possible effect of BTC and other cryptocurrencies on either financial markets or transactions has been widely discussed. However, the environmental effects of cryptocurrency demand have been ignored. Here, this study examines the nexus between cryptocurrencies and environmental degradation by employing standard and asymmetric causality methods. The Toda-Yamamoto and bootstrap-augmented Toda-Yamamoto test results reveal Bitcoin and Ethereum (ETH) excluding Ripple (XRP) have causal effects on environmental degradation. The Fourier-augmented Toda-Yamamoto test results show causal effects running from Bitcoin and Ripple to environmental degradation, whereas no causal effect runs from Ethereum to environmental degradation. The asymmetric causality shows causal effects from the positive shock of Bitcoin demand, negative shocks of Ripple and Ethereum demands to positive shocks of environmental degradation. Further discussions and policy implications are provided in the relevant sections of this study.</abstract><cop>Berlin/Heidelberg</cop><pub>Springer Berlin Heidelberg</pub><pmid>35013947</pmid><doi>10.1007/s11356-021-17998-y</doi><tpages>11</tpages><orcidid>https://orcid.org/0000-0003-3491-8234</orcidid><oa>free_for_read</oa></addata></record>
fulltext fulltext
identifier ISSN: 0944-1344
ispartof Environmental science and pollution research international, 2022-05, Vol.29 (21), p.31723-31733
issn 0944-1344
1614-7499
language eng
recordid cdi_pubmedcentral_primary_oai_pubmedcentral_nih_gov_8747876
source ABI/INFORM global; Springer Link
subjects Alternative energy sources
Aquatic Pollution
Asymmetry
Atmospheric Protection/Air Quality Control/Air Pollution
Blockchain
Carbon
Causality
Climate change
Coal
Demand
Digital currencies
Earth and Environmental Science
Ecotoxicology
Emissions
Energy consumption
Energy efficiency
Energy resources
Environment
Environmental Chemistry
Environmental degradation
Environmental effects
Environmental Health
Environmental impact
Environmental science
Policy
Power
Profits
Research Article
Sustainable development
Waste Water Technology
Water Management
Water Pollution Control
title Analyzing asymmetric effects of cryptocurrency demand on environmental sustainability
url http://sfxeu10.hosted.exlibrisgroup.com/loughborough?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2024-12-29T05%3A53%3A56IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_pubme&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Analyzing%20asymmetric%20effects%20of%20cryptocurrency%20demand%20on%20environmental%20sustainability&rft.jtitle=Environmental%20science%20and%20pollution%20research%20international&rft.au=Erdogan,%20Sinan&rft.date=2022-05-01&rft.volume=29&rft.issue=21&rft.spage=31723&rft.epage=31733&rft.pages=31723-31733&rft.issn=0944-1344&rft.eissn=1614-7499&rft_id=info:doi/10.1007/s11356-021-17998-y&rft_dat=%3Cproquest_pubme%3E2618904356%3C/proquest_pubme%3E%3Cgrp_id%3Ecdi_FETCH-LOGICAL-c474t-f2e3c6f45c3b88ce6c808ac1ae2b4714a1c7361bcb950940b3f5231419e9bba33%3C/grp_id%3E%3Coa%3E%3C/oa%3E%3Curl%3E%3C/url%3E&rft_id=info:oai/&rft_pqid=2656974951&rft_id=info:pmid/35013947&rfr_iscdi=true