Table 2 Bitcoin price elasticity to demand of different regions using Huber regression.
From: Bitcoin adoption and price elasticity of demand: cross-country insights
COUNTRY | Intercept | Price elasticity of demand (Coefficient of Log_Price) | Nature of demand |
|---|---|---|---|
DEVELOPED COUNTRIES | |||
AUSTRALIA | 14.764870490932035 | −1.142820197154022 | The demand is Elastic (|Elasticity| = 1.14). |
CANADA | 10.748395559572621 | −0.7557145765080493 | The demand is Inelastic (|Elasticity| = 0.76). |
CHILE | 5.4856555391190565 | −0.1627920180349784 | The demand is Inelastic (|Elasticity| = 0.16). |
CZECH REPUBLIC | 12.921538642864462 | −1.02791758150152 | The demand is Elastic (|Elasticity| = 1.03). |
HONG KONG | 9.134593333138834 | −0.5289809441373837 | The demand is Inelastic (|Elasticity| = 0.53). |
HUNGARY | 12.870068400083984 | −0.9297263780353044 | The demand is Inelastic (|Elasticity| = 0.93). |
JAPAN | −5.994065514571715 | 0.4438239419277404 | The demand is Inelastic (|Elasticity| = 0.44). |
NEWZEALAND | 10.007677577839157 | −0.7790534016210636 | The demand is Inelastic (|Elasticity| = 0.78). |
NORWAY | 13.885950668537607 | −1.0534728433811427 | The demand is Elastic (|Elasticity| = 1.05). |
POLAND | 9.640107191322732 | −0.7603562322618791 | The demand is Inelastic (|Elasticity| = 0.76). |
SAUDI ARABIA | −0.22247833338825265 | 0.2808793905096164 | The demand is Inelastic (|Elasticity| = 0.28). |
SINGAPORE | 7.583329469441868 | −0.5546987135434377 | The demand is Inelastic (|Elasticity| = 0.55). |
SOUTH KOREA | −6.764375215581441 | 0.48478076020911187 | The demand is Inelastic (|Elasticity| = 0.48). |
SWEDEN | 13.260865144544866 | −0.8455379157128141 | The demand is Inelastic (|Elasticity| = 0.85). |
TURKEY | 6.424652296724708 | −0.4346807336103501 | The demand is Inelastic (|Elasticity| = 0.43). |
UAE | 8.309201050587193 | −0.5637079096742567 | The demand is Inelastic (|Elasticity| = 0.56). |
UK | 13.496949095120494 | −0.8952343400982098 | The demand is Inelastic (|Elasticity| = 0.90). |
USA | 17.03581888217902 | −1.198889654905234 | The demand is Elastic (|Elasticity| = 1.20). |
DEVELOPING COUNTRIES | |||
ARGENTIA | 7.613189064180337 | −0.3596567787768878 | The demand is Inelastic (|Elasticity| = 0.36). |
BRAZIL | 7.956031668995045 | −0.43938625172932 | The demand is Inelastic (|Elasticity| = 0.44). |
CHINA | 10.461338559782897 | −0.4856176774007197 | The demand is Inelastic (|Elasticity| = 0.49). |
COLOMBIA | 3.811262121353569 | 0.0512374215519241 | The demand is Inelastic (|Elasticity| = 0.05). |
CROATIA | −1.933420583603594 | 0.18457708858349425 | The demand is Inelastic (|Elasticity| = 0.18). |
DOMINICAN REPUBLIC | −5.518175963380912 | 0.5829373320855709 | The demand is Inelastic (|Elasticity| = 0.58). |
EGYPT | −6.065936835047663 | 0.5534043003694322 | The demand is Inelastic (|Elasticity| = 0.55). |
INDIA | 10.412409994403687 | −0.44411495305683285 | The demand is Inelastic (|Elasticity| = 0.44). |
INDONESIA | −7.526877913371196 | 0.4270732318531305 | The demand is Inelastic (|Elasticity| = 0.43). |
IRAN | −6.774242130301381 | 0.44032323861833317 | The demand is Inelastic (|Elasticity| = 0.44). |
KAZAKHSTAN | −6.275479439454619 | 0.5359794567250298 | The demand is Inelastic (|Elasticity| = 0.54). |
KENYA | 6.81792871626401 | −0.2276968943750166 | The demand is Inelastic (|Elasticity| = 0.23). |
MALAYSIA | 11.080151607174617 | −0.7377009927385296 | The demand is Inelastic (|Elasticity| = 0.74). |
MEXICO | 9.233283262082786 | −0.4889557444557899 | The demand is Inelastic (|Elasticity| = 0.49). |
MOROCCO | −4.9030388069196595 | 0.6262280179551225 | The demand is Inelastic (|Elasticity| = 0.63). |
NIGERIA | −3.205409329416145 | 0.5378533617212614 | The demand is Inelastic (|Elasticity| = 0.54). |
PAKISTAN | 4.250335258871633 | −0.14132513399706978 | The demand is Inelastic (|Elasticity| = 0.14). |
PERU | 3.3467154381355364 | 0.003719042267237472 | The demand is Inelastic (|Elasticity| = 0.00). |
PHILIPPINES | 11.27557821429777 | −0.7050166171024019 | The demand is Inelastic (|Elasticity| = 0.71). |
ROMANIA | 11.999434820650313 | −0.9216712834012274 | The demand is Inelastic (|Elasticity| = 0.92). |
RUSSIA | 15.54727526277579 | −0.6690705008045558 | The demand is Inelastic (|Elasticity| = 0.67). |
SOUTH AFRICA | 12.811677119194345 | −0.7072095194176068 | The demand is Inelastic (|Elasticity| = 0.71). |
SWITZERLAND | 9.618309110752227 | −0.9159160360411625 | The demand is Inelastic (|Elasticity| = 0.92). |
TANZANIA | −6.916647160418863 | 0.48197617039494184 | The demand is Inelastic (|Elasticity| = 0.48). |
THAILAND | 12.876620115824077 | −0.728942737619763 | The demand is Inelastic (|Elasticity| = 0.73). |
UKRAINE | 6.9919099519267505 | −0.3047710001158763 | The demand is Inelastic (|Elasticity| = 0.30). |
VENEZUEA | 8.265516692692826 | −0.3730265035563079 | The demand is Inelastic (|Elasticity| = 0.37). |
VIETNAM | −7.185343510140008 | 0.4432600578729327 | The demand is Inelastic (|Elasticity| = 0.44). |
