金融科技对区域金融风险影响的门槛效应和空间效应研究  

Research on the Threshold Effect and Spatial Effect of FinTech on Regional Financial Risks

作　　者：孟苗苗 张曾莲[2] 李佩轶 MENG Miao-miao;ZHANG Zeng-lian;LI Pei-yi(School of Economics and Management,Beijing Jiaotong University,Beijing 100044,China;School of Economics and Management,Beijing University of Science and Technology,Beijing 100083,China;School of Business Information,Shanghai Business School,Shanghai 201400,China)

机构地区：[1]北京交通大学经济管理学院,北京100044 [2]北京科技大学经济管理学院,北京100083 [3]上海商学院商务信息学院,上海201400

出　　处：《北京交通大学学报(社会科学版)》2025年第1期99-110,共12页Journal of Beijing Jiaotong University(Social Sciences Edition)

基　　金：中央高校基本科研业务费专项资金资助项目“气候风险对企业绿色投资的影响研究”(2024YJS057)。

摘　　要：采用2011—2022年省级面板数据,利用面板门槛模型和空间门槛模型,检验金融科技对我国区域金融风险影响的门槛效应和空间效应。研究发现:金融科技对区域金融风险的影响呈先促进、后抑制的“倒U型”关系,具有双门槛效应,该结论对金融科技覆盖广度和使用深度同样适用;总体上我国金融科技发展水平处于合理区间,有利于对区域金融风险的防控;金融科技对我国区域金融风险的非线性影响具有空间效应。因此,未来我国应深刻认识把握金融科技的发展规律,稳妥发展金融科技,将金融科技监管纳入现有监管框架,持续健全金融科技监管长效机制,加快区域间金融科技发展要素流通,推动区域间金融科技协同发展和金融风险协同治理。From the provincial-level perspective of regional financial risks,and based on provincial-level panel data from 2011 to 2022,this study applies the panel threshold model and spatial threshold model to examine the threshold effect and spatial effect of fintech on China’s regional financial risks.The research shows the following findings:First,there exists an“inverted U-shaped”relationship between fintech and regional financial risks,with fintech first promoting and then suppressing regional financial risks,and this is equally applicable to both the breadth of fintech coverage and the depth of its use.Second,the development level of fintech in China is in a reasonable state overall,which is conducive to the prevention and control of regional financial risk.Third,the non-linear impact of fintech on China's regional financial risks has spatial effects.Therefore,in the future,China should accurately grasp the development laws of fintech,develop fintech steadily,incorporate fintech supervision into the existing regulatory framework,continuously improve the long-term fintech regulatory mechanism,and accelerate the circulation of fintech development factors among regions,promote inter-regional collaborative development of fintech and collaborative governance of financial risks.

关 键 词：金融科技 区域金融风险 面板门槛模型 空间门槛模型 

分 类 号：F832[经济管理—金融学]