As a novel economic form,the digital economy is reshaping the financial regulatory landscape and significantly impacting regulatory costs.This paper incorporates the digital economy and financial regulatory costs into...As a novel economic form,the digital economy is reshaping the financial regulatory landscape and significantly impacting regulatory costs.This paper incorporates the digital economy and financial regulatory costs into the classic Solow growth model,uncovering an inverted U-shaped relationship between them.A subsequent mechanism analysis explains the rationale behind this relationship.To empirically examine this relationship in China,the paper utilizes inter-provincial panel data from 2013 to 2021 and employs methodologies such as the two-way fixed effects and moderating effects models.These analyses have important implications for the sound and sustainable development of China’s financial industry.The findings indicate:(a)As China’s digital economy develops,its impact on financial regulatory costs follows an inverted U-shaped pattern,initially increasing and then declining.This conclusion remains valid after robustness tests.(b)The influence of the digital economy on regulatory costs depends on favorable external conditions.Specifically,the impact is more pronounced in regions and periods with better digital infrastructure and more abundant human capital.(c)Additionally,redundant resources moderate this impact,which can weaken the inverted U-shaped relationship.Our findings not only provide a theoretical foundation for understanding the impact of the digital economy on financial regulatory costs but also offer valuable policy insights for optimizing financial regulation in China.展开更多
In an age when modern financial companies have become more and more complex,and if not adequately supervised,they can cause lethal harm to the stability of one's financial system.In post-financial crisis era,major...In an age when modern financial companies have become more and more complex,and if not adequately supervised,they can cause lethal harm to the stability of one's financial system.In post-financial crisis era,major developed economies have apparently reinforced the function of the central bank in a country's financial regulatory system.Over the past several years,China has witnessed the huge changes in the financial sector but the financial regulatory framework remains the same as before.The Chinese stock market crash that began on June 12 2015 has urged the domestic regulators to restructure its financial regulatory system.The issue that which modal China should follow has perplexed Chinese policymakers.The governor of People's Bank of China,Zhou Xiaochuan,clearly responded to the problem concerning the current financial regulatory system,and indicated that Chinese regulators and policymakers had still studied the regulatory approach China would adopt during the press of People's Congress of 2016.This paper reviews the development of China's banking regulatory system points out the deficiencies in its original system and analyzes the recent trends of financial regulatory reform in UK to learn the international experience for further reform regarding financial regulatory system in China.展开更多
The current financial crisis is an inevitable result of the financial system accommodating a new banking business model, which endeavors to benefit, with increased innovation in financial products, from the incentives...The current financial crisis is an inevitable result of the financial system accommodating a new banking business model, which endeavors to benefit, with increased innovation in financial products, from the incentives and distortions created by the global macro liquidity policies. The failure of regulatory and supervising institutions to keep up with those innovations has undoubtedly compounded the magnitude of the debt and credit crisis.展开更多
As financial criminal methods become increasingly sophisticated, traditional anti-money laundering and fraud detection approaches face significant challenges. This study focuses on the application technologies and cha...As financial criminal methods become increasingly sophisticated, traditional anti-money laundering and fraud detection approaches face significant challenges. This study focuses on the application technologies and challenges of big data analytics in anti-money laundering and financial fraud detection. The research begins by outlining the evolutionary trends of financial crimes and highlighting the new characteristics of the big data era. Subsequently, it systematically analyzes the application of big data analytics technologies in this field, including machine learning, network analysis, and real-time stream processing. Through case studies, the research demonstrates how these technologies enhance the accuracy and efficiency of anomalous transaction detection. However, the study also identifies challenges faced by big data analytics, such as data quality issues, algorithmic bias, and privacy protection concerns. To address these challenges, the research proposes solutions from both technological and managerial perspectives, including the application of privacy-preserving technologies like federated learning. Finally, the study discusses the development prospects of Regulatory Technology (RegTech), emphasizing the importance of synergy between technological innovation and regulatory policies. This research provides guidance for financial institutions and regulatory bodies in optimizing their anti-money laundering and fraud detection strategies.展开更多
基金This study is funded by National Social Science Fund Major Project:“Research on Stimulating Innovation Vitality of Scientific and Technological Talent in the Context of Building a Talent Powerhouse”(21ZDA014)Research Start-Up Fund for Talent Recruitment of Sichuan Academy of Social Sciences:“Research on the Deep Integration of Sichuan’s Digital Economy and Real Economy to Support the Construction of a Modern Industrial System”(23RYJ03).
文摘As a novel economic form,the digital economy is reshaping the financial regulatory landscape and significantly impacting regulatory costs.This paper incorporates the digital economy and financial regulatory costs into the classic Solow growth model,uncovering an inverted U-shaped relationship between them.A subsequent mechanism analysis explains the rationale behind this relationship.To empirically examine this relationship in China,the paper utilizes inter-provincial panel data from 2013 to 2021 and employs methodologies such as the two-way fixed effects and moderating effects models.These analyses have important implications for the sound and sustainable development of China’s financial industry.The findings indicate:(a)As China’s digital economy develops,its impact on financial regulatory costs follows an inverted U-shaped pattern,initially increasing and then declining.This conclusion remains valid after robustness tests.(b)The influence of the digital economy on regulatory costs depends on favorable external conditions.Specifically,the impact is more pronounced in regions and periods with better digital infrastructure and more abundant human capital.(c)Additionally,redundant resources moderate this impact,which can weaken the inverted U-shaped relationship.Our findings not only provide a theoretical foundation for understanding the impact of the digital economy on financial regulatory costs but also offer valuable policy insights for optimizing financial regulation in China.
基金sponsored by China Postdoctoral Science Foundation(2016M591630)SHUPL Innovative Discipline Team on International Cooperative Legal Issues of Anti-terrorism(GH16050)
文摘In an age when modern financial companies have become more and more complex,and if not adequately supervised,they can cause lethal harm to the stability of one's financial system.In post-financial crisis era,major developed economies have apparently reinforced the function of the central bank in a country's financial regulatory system.Over the past several years,China has witnessed the huge changes in the financial sector but the financial regulatory framework remains the same as before.The Chinese stock market crash that began on June 12 2015 has urged the domestic regulators to restructure its financial regulatory system.The issue that which modal China should follow has perplexed Chinese policymakers.The governor of People's Bank of China,Zhou Xiaochuan,clearly responded to the problem concerning the current financial regulatory system,and indicated that Chinese regulators and policymakers had still studied the regulatory approach China would adopt during the press of People's Congress of 2016.This paper reviews the development of China's banking regulatory system points out the deficiencies in its original system and analyzes the recent trends of financial regulatory reform in UK to learn the international experience for further reform regarding financial regulatory system in China.
文摘The current financial crisis is an inevitable result of the financial system accommodating a new banking business model, which endeavors to benefit, with increased innovation in financial products, from the incentives and distortions created by the global macro liquidity policies. The failure of regulatory and supervising institutions to keep up with those innovations has undoubtedly compounded the magnitude of the debt and credit crisis.
文摘As financial criminal methods become increasingly sophisticated, traditional anti-money laundering and fraud detection approaches face significant challenges. This study focuses on the application technologies and challenges of big data analytics in anti-money laundering and financial fraud detection. The research begins by outlining the evolutionary trends of financial crimes and highlighting the new characteristics of the big data era. Subsequently, it systematically analyzes the application of big data analytics technologies in this field, including machine learning, network analysis, and real-time stream processing. Through case studies, the research demonstrates how these technologies enhance the accuracy and efficiency of anomalous transaction detection. However, the study also identifies challenges faced by big data analytics, such as data quality issues, algorithmic bias, and privacy protection concerns. To address these challenges, the research proposes solutions from both technological and managerial perspectives, including the application of privacy-preserving technologies like federated learning. Finally, the study discusses the development prospects of Regulatory Technology (RegTech), emphasizing the importance of synergy between technological innovation and regulatory policies. This research provides guidance for financial institutions and regulatory bodies in optimizing their anti-money laundering and fraud detection strategies.
