金融发展、金融反恐及其政策建议——基于跨国面板数据的实证分析  

Financial Development,Financial Counter-Terrorism and Policy Suggestions——An Empirical Analysis Based On Transnational Panel Data

作　　者：尹威[1] 刘晓星[1] 陈紫菱 YIN Wei;LIU Xiao-xing;CHEN Zi-ling

机构地区：[1]东南大学经济管理学院,南京211189

出　　处：《金融论坛》2022年第2期71-80,共10页Finance Forum

基　　金：国家重点研发计划项目2021QY2100;国家自然科学基金面上项目72173018。

摘　　要：本文基于1980-2017年全球169个国家的跨国面板数据,利用异方差线性回归模型,结合Bootstrap方法研究金融发展对恐怖融资的影响。实证结果表明:金融发展与恐怖融资间存在明显的非线性"倒U形"关系,即最初的金融发展会助推恐怖融资行为,当金融发展水平越过"倒U形"顶点后,会对恐怖融资产生抑制作用;而外商直接投资和侨汇等跨境资金流动同恐怖融资存在显著的正相关性;此外,金融机构发展和金融市场发展同恐怖融资都有显著的关联。Based on the transnational panel data of 169 countries during 1980-2017,this paper studies the impact of financial development on terrorist financing by using heteroscedasticity linear regression model and bootstrap method.The empirical results show that there is an obvious nonlinear“inverted U-shaped”relationship between financial development and terrorist financing,that is,the initial financial development will promote terrorist financing,and when the level of financial development exceeds the peak of“inverted U-shaped”,it will inhibit terrorist financing;there is a significant positive correlation between terrorist financing and cross-border capital flows such as FDI and overseas Chinese remittances;in addition,both the development of financial institutions and the financial markets are significantly related to terrorist fina ncing.

关 键 词：金融发展 恐怖融资 “倒U形”关系 跨国面板数据 

分 类 号：F831[经济管理—金融学]