Efficiency dynamics across segmented Bitcoin Markets: Evidence from a decomposition strategy

Kun Duan,Yang Gao,Tapas Mishra,Stephen Satchell

Journal of International Financial Markets, Institutions and Money（2023）

引用 4|浏览2

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摘要

•We segment the global Bitcoin trading by country market.•A robust semi-parametric estimator is employed to gauge the inefficiency degree.•Bitcoin markets are overall inefficient with heterogeneous and time-varying features.•COVID-19 enlarges and diverges the inefficiency degree of various Bitcoin market.•The segmentation of Bitcoin becomes more significant during the pandemic.

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关键词

Bitcoin,Long-memory,Market efficiency,Market segmentation,COVID-19 epidemic

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