数字经济时代下金融科技发展、风险及监管

Research on the Development, Risk and Regulatory of Financial Technology in the Digital Economy Era

金融科技快速发展,但是理论研究还处于初级阶段。金融监管合规性成本升高、边界限制、消费者需求转变和政府支持是金融科技快速发展的动因。金融科技促进投资资本转换和信用资本积累,拓展可贸易范围,增加长尾消费需求,促进经济增长,但是金融科技具有技术风险、监管风险、系统性风险,主要原因是金融科技带来的信息不对称、监管不适应,以及自身的脆弱性和风险传染性。各国的监管模式均是创新和风险之间的权衡,严格监管,金融科技的合规性成本升高,创新不足,放松监管,导致金融科技创新的野蛮生长,产生风险隐患。应该采取包容性监管、监管科技、完善数据治理体系、监管路径多样化。

Financial technology grow rapidly,but theoretical research lag behind.The reasons for the rapid development of financial science and technology are the rising cost of financial regulatory compliance,boundary restrictions,changes in consumer demand and government support.Financial technology promote economic growth for investment capital and Credit capital accumulation,long tail consumer demand,and externally tradable scope,But being technical risk,systemic risk and regulatory risk for Information asymmetry,regulatory flaws,vulnerability and risk contagion.The regulatory models in all countries are trade-offs between innovation and risk,which requires inclusive regulation,regulatory technology,data governance systems,and diversified regulatory paths.