Số phát hành: Số 10 - Tháng 4 - 2026Quản trị - Quản lý
Bitcoin, gold, and stock markets: A literature review on spillover effects and policy implications for Vietnam
Xuất bản: tháng 6 28, 2026
Tóm tắt
This study provides a comprehensive review of the literature on Bitcoin, gold, and stock markets, with a particular focus on spillover effects, safe-haven properties, and policy implications in the Vietnamese context. Although Bitcoin is frequently characterized as “digital gold,” empirical evidence remains inconclusive, with many studies reporting weak, unstable, or regime-dependent correlations with traditional assets. Recent findings in Vietnam further indicate that the previously observed positive correlations between Bitcoin, gold, and equities lose statistical significance once endogeneity and autocorrelation are properly addressed. Overall, the evidence suggests that Bitcoin functions primarily as a speculative asset rather than a reliable hedge, whereas gold continues to exhibit more consistent safe-haven characteristics. The study also synthesizes key implications for investor awareness, financial oversight, and the governance of digital assets in Vietnam
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