policy

The ascent of crypto assets: Evolution and macro-financial drivers | VOX, CEPR Policy Portal – voxeu.org

‘On-chain’1 crypto-asset transaction volumes have seen rapid growth globally driven by retail and institutional adoption, particularly since the beginning of the Covid-19 pandemic and against a backdrop of extraordinarily loose global financial conditions. The emerging crypto-asset industry is diverse and offers different potential opportunities and risks across different types of assets. While thousands of crypto …

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Little evidence for 'too much finance' | VOX, CEPR Policy Portal – voxeu.org

In the aftermath of the Global Crisis, the literature on finance and growth experienced a ‘paradigm shift’ whereby a pre-Crisi consensus of a strictly positive and linear relationship (e.g. Beck et al. 2000, Levine et al. 2000, Beck et al. 2004, Levine 2005) was replaced by a new consensus of a more complex, likely concave …

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War in Ukraine: The financial defence | VOX, CEPR Policy Portal – voxeu.org

The economic commentary on the Russian invasion of Ukraine has largely focused on the costs of economic sanctions for Russia (Garicano 2022) and the impacts on the global economy of rising oil and gas prices (Vaitilingam 2022). Less visible has been the economic impact on Ukraine and the actions of the National Bank of Ukraine …

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