国际货币基金组织：2024年跨境加密货币流动：衡量驱动因素和政策含义报告（英文版）

Cross-border crypto flows (CBCFs) are not systematically measured and are poorlyunderstood. After defining CBCFs and the channels through which they materialize, we review thevarious approaches to measure them through two case studies. We also quantify the dynamics anddrivers of CBCFs through a push/pull factor SVAR model. We find an increasingly large volume ofCBCFs, although considerable heterogeneity remains across estimates. Furhermore, CBCFs are moresensitive to push factors than reqular