Undergraduate Honors Thesis

Alternative Title

• The effect of cryptocurrency adoption on GDP

Abstract

• In September 2021, El Salvador was the first country in the world to adopt Bitcoin as a legal tender, marking the first introduction of a cryptocurrency into a regulated financial system. Using Gross Domestic Product as an indicator for economic growth in El Salvador, it can be estimated how bitcoin adoption affects GDP. The difference in difference design tests the influence of Bitcoin on the treatment group El Salvador whilst controlling for GDP’s determinants. The results provide evidence that Bitcoin adoption had a negative impact on GDP, in which El Salvador’s GDP decreased 2.22% relative to the control group.

Creator

• Schaeffner, Tim

Date Awarded

• 2023-04-06

Academic Affiliation

• Economics

Advisor

• Kim, Jin-Hyuk

Committee Member

• Kim, Jin-Hyuk
• Mckinnish, Terra G
• Baker, Andy

Granting Institution

• University of Colorado Boulder

Subject

• GDP
• Bitcoin
• El Salvador
• Cryptocurrency

Last Modified

• 2023-05-25

Resource Type

• Undergraduate Honors Thesis

Rights Statement

• In Copyright

Language

• English [eng]

License

• Creative Commons BY Attribution 4.0 International

Relationships

In Collection:

• Arts and Sciences Honors Program

Items

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	El_Salvador_Final_Thesis_3.0.pdf	2023-05-25	Public	Download