摘 要
随着金融全球化和科技的快速发展，金融创新已成为推动经济高质量发展的重要动力，但其潜在风险也对金融监管提出了更高要求。本研究旨在探讨金融监管对金融创新的激励与约束机制，通过构建理论模型并结合实证分析方法，考察不同监管模式对金融创新的影响路径及其效果。研究基于2010年至2022年间中国及主要发达国家的金融行业数据，采用面板数据分析与案例研究相结合的方式，揭示了适度监管能够有效激励金融创新，而过度或不足的监管则可能抑制创新活力并增加系统性风险。研究表明，以风险为导向、技术为支撑的动态平衡型监管框架是实现金融创新与稳定协调发展的关键。本研究的创新点在于首次将金融监管强度与灵活性纳入统一分析框架，并提出适应金融科技创新需求的政策建议，为完善现代金融治理体系提供了理论支持与实践参考。
关键词：金融监管；金融创新；动态平衡型监管
Abstract
With the rapid advancement of financial globalization and technology, financial innovation has become a crucial driver for promoting high-quality economic development. However, the potential risks associated with financial innovation have also placed higher demands on financial regulation. This study aims to explore the incentive and constraint mechanisms of financial regulation on financial innovation. By constructing a theoretical model and employing empirical analysis methods, it examines the influence pathways and effects of different regulatory models on financial innovation. Based on financial industry data from China and major developed countries between 2010 and 2022, this research combines panel data analysis with case studies to reveal that moderate regulation can effectively incentivize financial innovation, whereas excessive or insufficient regulation may suppress innovative vitality and increase systemic risks. The findings indicate that a dynamically balanced regulatory fr amework, which is risk-oriented and technology-supported, is essential for achieving coordinated development between financial innovation and stability. A key contribution of this study lies in its integration of regulatory intensity and flexibility into a unified analytical fr amework for the first time, along with policy recommendations tailored to meet the demands of financial technology innovation. These contributions provide both theoretical support and practical references for improving the modern financial governance system.
Keywords: Financial Regulation；Financial Innovation；Dynamic Balance-Oriented Regulation
目 录
引言 1
一、金融监管与金融创新的理论基础 1
（一）金融监管的核心概念 1
（二）金融创新的基本内涵 2
（三）监管与创新的互动关系 2
二、金融监管对金融创新的激励机制分析 2
（一）激励机制的理论框架 3
（二）监管政策的正向引导作用 3
（三）激励效果的实证案例研究 3
三、金融监管对金融创新的约束效应探讨 4
（一）约束机制的作用机理 4
（二）过度监管的风险与挑战 4
（三）约束效应的国际比较分析 5
四、金融监管与金融创新的平衡路径探索 5
（一）平衡目标的设定与衡量 5
（二）监管政策的优化方向 6
（三）创新环境的构建与完善 6
结 论 6
致 谢 8
参考文献 9
