Cryptocurrency and Global Remittance Dynamics: An Empirical Analysis
A Master of Science in Economics and Policy (MSEP) by Suleiman Altaf entitled, “Cryptocurrency and Global Remittance Dynamics: An Empirical Analysis”, submitted in May 2026. Thesis advisor is Dr. Samer Kherfi. Soft copy is available (Thesis, Approval Signatures, Completion Certificate, and AUS Archi...
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| Format: | doctoralThesis |
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2026
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| Online Access: | https://hdl.handle.net/11073/33471 |
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| _version_ | 1870676404226490368 |
|---|---|
| author | Altaf, Suleiman |
| author_facet | Altaf, Suleiman |
| author_role | author |
| dc.contributor.none.fl_str_mv | Kherfi, Samer |
| dc.creator.none.fl_str_mv | Altaf, Suleiman |
| dc.date.none.fl_str_mv | 2026-06-11T06:13:00Z 2026-06-11T06:13:00Z 2026-05 |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | 33.232-2026.02 https://hdl.handle.net/11073/33471 |
| dc.language.none.fl_str_mv | en_US |
| dc.relation.none.fl_str_mv | Master of Science in Economics and Policy (MSEP) |
| dc.subject.none.fl_str_mv | Cryptocurrency Blockchain Remittances Migration Stablecoins Informal Economy |
| dc.title.none.fl_str_mv | Cryptocurrency and Global Remittance Dynamics: An Empirical Analysis |
| dc.type.none.fl_str_mv | info:eu-repo/semantics/publishedVersion info:eu-repo/semantics/doctoralThesis |
| description | A Master of Science in Economics and Policy (MSEP) by Suleiman Altaf entitled, “Cryptocurrency and Global Remittance Dynamics: An Empirical Analysis”, submitted in May 2026. Thesis advisor is Dr. Samer Kherfi. Soft copy is available (Thesis, Approval Signatures, Completion Certificate, and AUS Archives Consent Form). |
| format | doctoralThesis |
| id | aus_4f938484ddb5da8008a4004f128f7a76 |
| identifier_str_mv | 33.232-2026.02 |
| language_invalid_str_mv | en_US |
| network_acronym_str | aus |
| network_name_str | aus |
| oai_identifier_str | oai:repository.aus.edu:11073/33471 |
| publishDate | 2026 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| spelling | Cryptocurrency and Global Remittance Dynamics: An Empirical AnalysisAltaf, SuleimanCryptocurrencyBlockchainRemittancesMigrationStablecoinsInformal EconomyA Master of Science in Economics and Policy (MSEP) by Suleiman Altaf entitled, “Cryptocurrency and Global Remittance Dynamics: An Empirical Analysis”, submitted in May 2026. Thesis advisor is Dr. Samer Kherfi. Soft copy is available (Thesis, Approval Signatures, Completion Certificate, and AUS Archives Consent Form).Global remittances represent a critical economic lifeline for developing nations, yet persistently high transfer costs and slow settlement speeds continue to undermine traditional channels. This study investigates the Substitution Hypothesis, the premise that cryptocurrency adoption displaces formal remittance flows. Employing a balanced panel dataset spanning 2021–2024 across 129 countries and territories, official remittance receipts as a percentage of Gross Domestic Product are regressed against the Chainalysis Global Crypto Adoption Index using a Fixed Effects estimator with Driscoll-Kraay standard errors to account for cross-sectional dependence and country-specific heterogeneity. Controls include Gross Domestic Product per capita, the real effective exchange rate, and diaspora size. The results challenge the Substitution Hypothesis: rather than displacing formal channels, digital asset adoption is associated with an increase in officially recorded remittance shares across most specifications, with the effect most pronounced among low- and middle-income economies. A substitution dynamic emerges only among the most remittance-dependent countries, where crypto transactions appear to bypass formal recording mechanisms. The study concludes that digital assets presently function as complementary infrastructure within the global remittance ecosystem and recommends that regulatory frameworks prioritize formalization of cryptocurrency infrastructure over blanket prohibition.School of Business AdministrationDepartment of EconomicsMaster of Science in Economics, Policy (MSEP)Kherfi, Samer2026-06-11T06:13:00Z2026-06-11T06:13:00Z2026-05info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/doctoralThesisapplication/pdf33.232-2026.02https://hdl.handle.net/11073/33471en_USMaster of Science in Economics and Policy (MSEP)oai:repository.aus.edu:11073/334712026-06-17T05:48:29Z |
| spellingShingle | Cryptocurrency and Global Remittance Dynamics: An Empirical Analysis Altaf, Suleiman Cryptocurrency Blockchain Remittances Migration Stablecoins Informal Economy |
| status_str | publishedVersion |
| title | Cryptocurrency and Global Remittance Dynamics: An Empirical Analysis |
| title_full | Cryptocurrency and Global Remittance Dynamics: An Empirical Analysis |
| title_fullStr | Cryptocurrency and Global Remittance Dynamics: An Empirical Analysis |
| title_full_unstemmed | Cryptocurrency and Global Remittance Dynamics: An Empirical Analysis |
| title_short | Cryptocurrency and Global Remittance Dynamics: An Empirical Analysis |
| title_sort | Cryptocurrency and Global Remittance Dynamics: An Empirical Analysis |
| topic | Cryptocurrency Blockchain Remittances Migration Stablecoins Informal Economy |
| url | https://hdl.handle.net/11073/33471 |