摘 要
金融科技的快速发展为金融体系带来了效率提升与创新机遇，但同时也对金融稳定性构成了潜在挑战。本研究旨在探讨金融科技对金融稳定性的双刃剑效应，通过构建理论分析框架并结合实证研究方法，评估其在风险传导、市场波动和系统性稳定性方面的影响。研究采用多维度数据集，运用面板数据分析与情景模拟技术，揭示金融科技在促进金融包容性和提高资源配置效率的同时，可能加剧信息不对称、网络风险及顺周期性等问题。结果表明，金融科技的发展程度与金融稳定性之间存在非线性关系，在特定条件下可能引发系统性风险。本研究的创新点在于首次将复杂网络理论引入金融科技稳定性分析，并提出基于动态监管的政策建议，为平衡技术创新与风险管理提供了理论支持与实践指导，对完善金融科技监管框架具有重要参考价值。
关键词：金融科技；金融稳定性；风险传导
Abstract
The rapid development of fintech has brought efficiency improvements and innovation opportunities to the financial system, yet it also poses potential challenges to financial stability. This study aims to explore the dual-edged effects of fintech on financial stability by constructing a theoretical analytical fr amework and employing empirical research methods to evaluate its impacts on risk transmission, market volatility, and systemic stability. Using a multidimensional dataset and applying panel data analysis along with scenario simulation techniques, this study reveals that while fintech promotes financial inclusion and enhances the efficiency of resource allocation, it may simultaneously exacerbate issues such as information asymmetry, network risks, and procyclicality. The findings indicate a nonlinear relationship between the level of fintech development and financial stability, which under specific conditions could trigger systemic risks. The novelty of this research lies in its first-time integration of complex network theory into the stability analysis of fintech, alongside the proposal of policy recommendations based on dynamic regulation. These contributions provide theoretical support and practical guidance for balancing technological innovation with risk management, offering significant reference value for the improvement of the fintech regulatory fr amework.
Keywords: Fintech；Financial Stability；Risk Transmission
目 录
引言 1
一、金融科技对金融稳定性的正面效应研究 1
（一）提升金融服务效率的机制分析 1
（二）数据驱动的风险管理优化路径 2
（三）促进普惠金融发展的实践探索 2
二、金融科技对金融稳定性的潜在风险分析 2
（一）技术依赖带来的系统性风险评估 2
（二）数据安全与隐私保护的挑战探讨 3
（三）市场波动加剧的传导机制研究 3
三、双刃剑效应的形成机理与影响因素分析 4
（一）技术创新与监管适应的动态平衡 4
（二）金融市场结构变化对稳定性的影响 4
（三）不同场景下双刃剑效应的表现特征 5
四、应对金融科技双刃剑效应的策略研究 5
（一）构建多层次的金融科技监管框架 5
（二）推动技术标准化与行业自律发展 5
（三）加强国际合作以防范跨境金融风险 6
结 论 6
致 谢 8
参考文献 9
