CONVERGENCE PATTERNS IN CRYPTOCURRENCY MARKETS: EVIDENCE FROM CLUB CONVERGENCE

SAHOO, PRADIPTA KUMAR (2020) CONVERGENCE PATTERNS IN CRYPTOCURRENCY MARKETS: EVIDENCE FROM CLUB CONVERGENCE. Global Economy Journal, 20 (04). pp. 1-10. ISSN 2194-5659

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Abstract

This paper empirically examines the convergence of cryptocurrency markets with particular attention to top 30 cryptocurrencies. The study applies the novel Phillips and Sul panel convergence technique to daily closing price data of 30 cryptocurrencies for the period October 4, 2017 to May 31, 2020. The empirical findings suggest the evidence of divergence and the existence of club convergence across the cryptocurrency markets. The study finds the existence of five clubs in the top 30 cryptocurrency markets. The outcome of the study helps the investors and crypto lovers to diversify their portfolio by seeing the common transition path of the group of currencies. © 2020 World Scientific Publishing Company.

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IITH Creators:	IITH Creators ORCiD
Item Type:	Article
Uncontrolled Keywords:	Club convergence; cryptocurrencies
Subjects:	Arts > Liberal arts
Divisions:	Department of Liberal Arts
Depositing User:	. LibTrainee 2021
Date Deposited:	27 Oct 2022 14:55
Last Modified:	27 Oct 2022 14:55
URI:	http://raiithold.iith.ac.in/id/eprint/11082
Publisher URL:	http://doi.org/10.1142/S2194565920500220
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