Research on the Problems of Financial Technology Development on Systemic Financial Risk

Abstract

This paper collects the panel data of 23 provinces in china from 2015 to 2020, establishes a Two-way fixed effects model to deeply analyze the impact of financial technology on systemic risk, and the results show that: (1) There is a nonlinear relationship between financial technology and systemic risk, Presenting an inverted U shape.(2) The development of inclusive finance will promote the impact of financial technology on systemic risk. (3) Compared with the central and western regions, the strengthening effect of financial technology on systemic risk in the eastern region is significantly weakened. Based on this, from the aspect of strengthening the development of science and technology finance, it puts forward suggestions and strategies to do a good job in the leading role of pilot areas and regional differentiated development.