中国P2P网络借贷省际金融监管强度竞争及其实证分析

An Empirical Analysis on the Competition of the Provincial Financial Regulation Strength on P2P Network Loan in China

以2014年第一季度至2016年第一季度的P2P平台的面板数据,采用空间计量模型,实证研究省际间P2P平台金融监管规制强度差异及影响其发展的因素,进而探讨了对区域金融资源竞争问题。结果表明:第一,我国东部沿海地区P2P平台存在显著的空间正相关关系;中部地区则存在显著的空间负相关关系。第二,东部地区由于其金融发展占据先导地位,其P2P平台资源集聚程度较中部地区显著。第三,东部地区P2P平台对金融资源初始禀赋更加敏感,这促使中部地区在竞争中不得不采用更加宽松的金融监管规制强度。第四,地区开放程度等因素能够促进P2P网贷发展。在此基础上,提出相应的政策建议。

Based on the panel data of P2P platforms from the first quarter of 2014 to the first quarter of 2016, this paper uses the spatial measurement model to study the differences of the intensity of financial regulation and regulation of inter-provincial P2P platform and the factors influencing its development, and further discusses the competition issues of financial resources. The results show that first, there is a significant spatial positive correlation between the P2P platforms in the eastern coastal area of China, and there is a significant spatial negative correlation in the central region. Second, because of its financial development, the eastern region occupies a leading position, and the P2P platform resource concentration is more significant than that of the central region. Third, the eastern region of the P2P platform is more sensitive to the initial endowment of financial resources, which prompts the central region in the competition to adopt a more relaxed financial regulation. Fourth, the regional openness and other factors promote the development of P2P network loan. Based on the above analysis, this paper puts forward some corresponding policy recommendations.