Research on the Impact of FinTech on Systemic Financial Risks and Countermeasures
Journal: Modern Economics & Management Forum DOI: 10.32629/memf.v6i1.3552
Abstract
With the rapid development of information technology, financial technology, as an important force driving innovation in the financial industry, has risen rapidly worldwide. FinTech has had a profound impact on the financial market by continuously innovating and transforming financial businesses, products, services, and models through the use of cutting-edge technologies such as big data, artificial intelligence, and blockchain. However, while the development of financial technology improves the efficiency, transparency, and inclusiveness of financial markets, it also increases the complexity and uncertainty of financial markets, which may trigger or exacerbate systemic financial risks. This article aims to analyze the positive and negative impacts of financial technology on systemic financial risks, and propose preventive measures to strengthen the construction of the financial technology regulatory system, promote the standardized development of financial technology, enhance the risk management capabilities of financial institutions, and promote the deep integration of financial technology and the real economy, in order to achieve the healthy, stable, and sustainable development of the financial market.
Keywords
FinTech, systemic financial risks, influential factors, risk analysis
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[3]Shao, X. & Hu, M. Does FinTech help companies invest more efficiently? An empirical study based on China's A-share listed companies [J]. Learning and Practice,2022,(03):38-46.
[4]Sun Li, Yu Jihuan. FinTech development and commercial banks' risk-taking: impact mechanism and empirical test. Southern Finance,2022,(11):50-64.
[5]Wang, W. & Lu, Z. Real estate bubble and systemic financial risk prevention: based on the perspective of international comparison [J]. Research of International Finance,2021,(01):26-34.
[6]Peng, J. & Xu, G. Does the abnormal fluctuation of housing prices evolve into systemic financial risks? Investment Research,2020,39(04):96-109.
[7]Mao Rui, Liu Nannan, Liu Rong The trigger mechanism between the expansion of local government debt and systemic financial risks [J]. China Industrial Economics, 2018, (04): 19-38.
[8]Lin, X. & Wang, R. Research on the impact of financial technology on the complexity of financial market: from the perspective of systemic financial risk [J]. Securities Market Herald,2023,(10):68-79.
[9]Luo, H., Yan, D. & Wang, R. Research on the influence mechanism of FinTech on the spread of systemic financial risk [J]. Southwest Finance,2020,(06):87-96.
[10]An, Q., Xu, W. & Li, Q. The impact of FinTech development on the systemic risk of financial institutions: an empirical study from a time-varying perspective [J]. Journal of Mathematical Statistics and Management,2023,42(03):556-570.
[11]Zheng, L. & Hao, Q. The impact of FinTech development on the systemic risk of financial institutions in China [J]. Journal of Shenyang University (Social Sciences Edition), 2020,24(04):373-381.
[12]A.Charnes,W.M. Raike,C.O. Bettinger. An extremal and information-theoretic characterization of some interzonal transfer models[J]. Socio-Economic Planning Sciences,1972,531-537.
[13]Agarwal S,Zhang J.FinTech.Lending and Payment Innovation:A Review[J].Asia‐Pacific Journal of Financial Studies.2020(12):45-60.
[14]Zheng, Z. & Ren, B. Yun. Financial technology, government regulation and commercial banks' risk-taking [J]. Scientific Decision,2022,(02):103-115.
[15]Hu, B. & Ren, X. FinTech development: Characteristics, Challenges and Regulatory Strategies. Reform,2021,(09):82-90.
[16]Gu Zheng, the stone is unflinching. Research on FinTech helping to prevent and control financial risks [J]. Audit & Economics Research,2020,35(01):16-17+11.
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