数字金融对我国区域性金融风险的影响研究

数字金融的快速发展，在提升金融运行效率的同时也带来了新的风险。从理论层面看，数字金融对我国区域性金融风险具有加剧和减缓两类作用。通过构建我国区域性金融风险衡量指标体系，并利用熵值法进行赋权，得到2011—2020年我国区域性金融风险指数，在此基础上，利用面板模型与空间杜宾模型实证分析数字金融对我国区域性金融风险的影响。研究表明，数字金融会显著抑制我国区域性金融风险，且这种抑制作用具有区域异质性和时间异质性；数字金融对区域性金融风险的影响具有空间溢出效应。最后提出:健全数字金融运行机制，设立数字金融监管机构；优化资源配置，拓宽数字金融的空间溢出通道；实行差异化地区发展战略，增强整体风险应对能力。

Research on the Influence of Digital Finance on Regional Financial Risk in China

The rapid development of digital finance has not only improved the efficiency of financial operation, but also brought new risks. From the theoretical perspective, digital finance has two kinds of effects on the regional financial risks in China: aggravating and mitigating. The regional financial risk index from 2011 to 2020 is obtained by constructing the regional financial risk measurement index system and empowering with entropy method. On this basis, the panel model and spatial Dubin model are used to demonstrate the influence of digital finance on regional financial risks. The results show that digital finance can significantly inhibit regional financial risks, and the inhibition has regional and time heterogeneity. Digital finance has a spatial spillover effect on regional financial risks. Finally, it proposes to improve the operation mechanism of digital finance, and set up digital financial supervision institutions; optimize resources allocation and broaden the spatial spillover channel of digital finance; implement a differentiated regional development strategy and enhance overall risk response capability. Finally, it is proposed to improve the operation mechanism of digital finance and set up digital financial supervision institutions; optimize the allocation of resources and broaden the spatial spillover channel of digital finance; implement differentiated regional development strategies and enhance overall risk response capability.