{
  "title": "On Cross-Border Crypto Flows: Measurement Drivers and Policy Implications",
  "publication": "IMF Working Papers, December 20, 2024",
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  "summary": "Cross-border crypto flows (CBCFs) are not systematically measured and are poorly understood. After defining CBCFs and the channels through which they materialize, we review the various approaches to measure them through two case studies.",
  "sections": [
    {
      "heading": "Overview and scope",
      "content": "- Title: On Cross-Border Crypto Flows: Measurement Drivers and Policy Implications\n- Authors: Pamela Cardozo, Andrés Fernández, Jerzy Jiang, Felipe D Rojas\n- Date: December 20, 2024\n- Format: IMF Working Papers, Working Paper No. 2024/261, Issue: 261, Volume: 2024\n- Pages: 56\n- DOI: https://doi.org/10.5089/9798400294501.001\n- Stock No: WPIEA2024261\n- ISBN: 9798400294501\n- ISSN: 1018-5941"
    },
    {
      "heading": "Core research questions and methods",
      "content": "- Definition and channels:\n  - Defines cross-border crypto flows (CBCFs) and describes the channels through which CBCFs materialize.\n- Measurement approaches:\n  - Reviews various approaches to measure CBCFs through two case studies.\n- Quantitative analysis:\n  - Quantifies the dynamics and drivers of CBCFs using a push/pull factor SVAR model."
    },
    {
      "heading": "Key findings",
      "content": "- Volume and heterogeneity:\n  - Finds an increasingly large volume of CBCFs, although considerable heterogeneity remains across estimates.\n- Sensitivity to drivers:\n  - CBCFs are more sensitive to push factors than regular capital flows.\n- Implications for measurement:\n  - CBCFs are not systematically measured and are poorly understood, indicating a need for improved measurement and monitoring."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Measurement and monitoring:\n  - Calls for accurate and comprehensive measurement and monitoring of CBCFs.\n- Capital account policy:\n  - Argues for rethinking capital account restrictions in a more digitalized world."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject areas: Balance of payments, Capital flows, Central bank bills, Central banks, Foreign direct investment, Foreign exchange\n- Keywords: Brazil CBCFs, capital account restriction, capital account restrictions, capital flows, Central bank bills, cross-border flows, Crypto assets, drivers of CBCFs, Foreign direct investment, Global, measurement, monitoring of CBCFs, policy implication, push-pull factors\n\nSource: Pamela Cardozo, Andrés Fernández, Jerzy Jiang, and Felipe D Rojas. \"On Cross-Border Crypto Flows: Measurement Drivers and Policy Implications\", IMF Working Papers 2024, 261 (December 20, 2024), DOI: https://doi.org/10.5089/9798400294501.001.\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2024/12/20/on-cross-border-crypto-flows-measurement-drivers-and-policy-implications-559166"
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    "Authors: Pamela Cardozo, Andrés Fernández, Jerzy Jiang, Felipe D Rojas",
    "Published: December 20, 2024",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9798400294501.001",
    "Title: On Cross-Border Crypto Flows: Measurement Drivers and Policy Implications",
    "Authors: Pamela Cardozo, Andrés Fernández, Jerzy Jiang, Felipe D Rojas",
    "Date: December 20, 2024",
    "Format: IMF Working Papers, Working Paper No. 2024/261, Issue: 261, Volume: 2024",
    "Pages: 56",
    "DOI: https://doi.org/10.5089/9798400294501.001",
    "Stock No: WPIEA2024261",
    "ISBN: 9798400294501",
    "ISSN: 1018-5941",
    "Definition and channels:",
    "Measurement approaches:",
    "Quantitative analysis:",
    "Volume and heterogeneity:",
    "Sensitivity to drivers:",
    "Implications for measurement:",
    "Measurement and monitoring:",
    "Capital account policy:",
    "Subject areas: Balance of payments, Capital flows, Central bank bills, Central banks, Foreign direct investment, Foreign exchange",
    "Keywords: Brazil CBCFs, capital account restriction, capital account restrictions, capital flows, Central bank bills, cross-border flows, Crypto assets, drivers of CBCFs, Foreign direct investment, Global, measurement, monitoring of CBCFs, policy implication, push-pull factors",
    "**Working Paper**"
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