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China, Coal, Calamities and Cryptos

19 Pages Posted: 24 May 2021

See all articles by Erdinc Akyildirim

Erdinc Akyildirim

ETH Zürich - Department of Mathematics

Shaen Corbet

Dublin City University ; University of Waikato - Management School

Brian M. Lucey

Trinity Business School, Trinity College Dublin; Ho Chi Minh City University of Economics and Finance; Jiangxi University of Finance and Economics

Date Written: May 22, 2021

Abstract

The growth of cryptocurrency mining in China, still heavily reliant on coal as a fuel for electricity generation, raises natural questions on the inter-relatedness of coal and crypto prices and volatilities. We investigate this, and the safety and thus supply stability of domestic Chinese coal mining. We find strong evidence of increased bitcoin volatility in the period post-Chinese coal mining accidents, with limited effects on global coal prices. Global coal price interrelationships do not respond to Chinese mining disaster-induced volatility but do respond to the largest Bitcoin-related price movements.

Keywords: Cryptocurrencies; Energy Usage; Coal Mining; Volatility; Extreme Value Modelling

JEL Classification: G10, G15, L72

Suggested Citation

Akyildirim, Erdinc and Corbet, Shaen and Lucey, Brian M., China, Coal, Calamities and Cryptos (May 22, 2021). Available at SSRN: https://ssrn.com/abstract=3851253 or http://dx.doi.org/10.2139/ssrn.3851253

Erdinc Akyildirim

ETH Zürich - Department of Mathematics ( email )

ETH Zentrum HG-F 42.1
Raemistr. 101
CH-8092 Zurich, 8092
Switzerland

Shaen Corbet

Dublin City University ( email )

Dublin 9
Ireland

University of Waikato - Management School ( email )

Hamilton
New Zealand

Brian M. Lucey (Contact Author)

Trinity Business School, Trinity College Dublin ( email )

The Sutherland Centre, Level 6, Arts Building
Dublin 2
Ireland
+353 1 608 1552 (Phone)
+353 1 679 9503 (Fax)

Ho Chi Minh City University of Economics and Finance ( email )

59C Nguyen Dình Chieu
6th Ward, District 3
Ho Chi Minh City, Ho Chi Minh 70000
Vietnam

Jiangxi University of Finance and Economics ( email )

South Lushan Road
Nanchang, Jiangxi 330013
China

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