Research Article
Relevance of the Ancient Barter Technique in Currency Exchange: From the Euro to Bitcoin
Issue:
Volume 13, Issue 2, April 2025
Pages:
49-60
Received:
24 February 2025
Accepted:
4 March 2025
Published:
10 April 2025
Abstract: Objective of this manuscript is both to tracing the evolution of money, and examining its transition from commodity money to fiat money, up to the emergence of cryptocurrencies. It highlights the inherent issues of the barter system, emphasizing the urgencies and necessities that favored the adoption of legal tender. Subsequently, the impact of the creation of the Euro on the European economy—both historically and geopolitically—will be analyzed, contextualizing the European Union's institutional process. In a response to the crisis, Bitcoin (the first decentralized cryptocurrency) will be introduced, along with an illustration of the supporting Blockchain technology will be provided. Finally, the proposal of American Senator Lummis, who suggests a massive purchase of Bitcoin to be used as a strategic reserve through the “Bitcoin Act” program, will be explored, prompting several reflections on the future of the petrodollar as a reserve instrument. Through these reflections, the reader could develop their own thoughts on the importance of evolving towards forms of money more suited to an increasingly digitized and decentralized economy. In conclusion, by proposing an analogy between the ancient monetary practices on Yap and cryptocurrencies, we aim to stimulate the reflection that innovation is not only desirable in this fast-paced world but essential.
Abstract: Objective of this manuscript is both to tracing the evolution of money, and examining its transition from commodity money to fiat money, up to the emergence of cryptocurrencies. It highlights the inherent issues of the barter system, emphasizing the urgencies and necessities that favored the adoption of legal tender. Subsequently, the impact of the...
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Research Article
Stock Market Development Determinants in Africa: A Review of Literature
Issue:
Volume 13, Issue 2, April 2025
Pages:
61-69
Received:
23 March 2025
Accepted:
3 April 2025
Published:
29 April 2025
DOI:
10.11648/j.ijefm.20251302.12
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Abstract: The development of stock markets is crucial for economic growth, capital formation, and financial stability, particularly in Africa, where economies are often characterised by volatility and underdevelopment. Results of this paper are drawn from a systematic literature review which synthesizes findings from twenty-nine newly published research papers published in peer-reviewed journals between 01 January 2020 and 31 December 2024, obtained freely on Google Scholar. The main objective of this paper is to identify the determinants of stock market development across different African countries. From the twenty-nine reviewed papers, it can be noted that the key determinants include macroeconomic indicators such as economic growth, inflation, interest rates, trade openness, and foreign investment. The review of literature highlighted the mixed effects of these factors, indicating that their influence can vary significantly across countries and regions. Stakeholders, such as policymakers, investors, and financial institutions, have shown increasing interest in understanding these dynamics due to the potential for stock markets to enhance capital mobilization and economic resilience. The review of literature also identified contested areas in the literature, suggesting that while some determinants are widely acknowledged, others remain debated. Future research directions include exploring the impact of technological advancements, regulatory frameworks, and socio-political factors. This paper underscores the need for a nuanced understanding of stock market dynamics to inform effective policy interventions aimed at fostering sustainable economic growth in Africa.
Abstract: The development of stock markets is crucial for economic growth, capital formation, and financial stability, particularly in Africa, where economies are often characterised by volatility and underdevelopment. Results of this paper are drawn from a systematic literature review which synthesizes findings from twenty-nine newly published research pape...
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,
Elia Fiorenza
