Global Capital Markets and Cryptocurrency: Exploring the International
Political Economy of Blockchain Ecosystems and Metaverse Development
Abstract
Key contributions include 1) analytical dollar-denominated comparisons
between blockchain/metaverse assets and fiat-denominated traditional
markets, 2) comparative analysis of blockchain ecosystems both
theoretically and empirically, and 3) demonstration of topic relevance
to international relations, international political economy, and
international development. The paper exploits public deep-order-book
auction markets, allowing tick-to-tick observation of values of
underlying assets (reminiscent of the early CRSP papers at Chicago),
tethering the analysis to real prices paid in real markets.