Bibliometric Analysis of Studies on the Concept of Decentralized Finance (DeFi) with VOSviewer Database
Chapter from the book: Sönmez, A. R. (ed.) 2024. Research on Money and Capital Markets.

Ahmet Öner
Erzincan Binali Yıldırım University

Synopsis

This study aims to examine the scientific development of the decentralized finance (DeFi) concept in the academic literature and map the general trends in this research field. Academic studies published between 2010 and 2024 in the Web of Science database were analyzed using bibliometric methods with the VOSviewer program. The analysis reveals that DeFi has emerged as a rapidly growing topic, particularly following the 2008 global financial crisis. The advancement of blockchain technology and the demand for transparent, intermediary-free financial services constitute the core foundations of DeFi.

The study evaluates the academic significance of DeFi from various perspectives. Analyses at the author, country, institution, and source levels highlight the geographies where DeFi is prevalent, the leading researchers, and pioneering institutions. The findings indicate that countries like the United States, China, and the United Kingdom are leaders in DeFi-related research and publication activities. Institutions such as Imperial College London, the University of Basel, and the University of Luxembourg are among the most prolific and highly cited. Moreover, DeFi studies, characterized by their interdisciplinary nature, are concentrated in fields such as computer science, economics, business, telecommunications, and public administration.

The results demonstrate that bibliometric methods are effective tools for understanding the dynamics of DeFi literature and identifying academic collaboration networks. The study provides a detailed examination of co-authorships, citation connections, and international collaboration networks. Furthermore, bibliographic coupling and co-citation analyses help identify key sources and authors shaping the field. Finally, the findings underscore that DeFi is a paradigm accelerating the transformation of financial systems and offering new opportunities beyond traditional financial instruments.

How to cite this book

Öner, A. (2024). Bibliometric Analysis of Studies on the Concept of Decentralized Finance (DeFi) with VOSviewer Database. In: Sönmez, A. R. (ed.), Research on Money and Capital Markets. Özgür Publications. DOI: https://doi.org/10.58830/ozgur.pub576.c2365

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Published

December 22, 2024

DOI