金融科技发展动力指数研究
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摘要
本文将金融科技发展动力划分为供给动力和需求动力两个子系统,用主成分分析法分别计算金融科技发展供给动力指数和金融科技发展需求动力指数,然后再用等值赋权法合成综合动力指数。通过对10个国家2010-2015年的金融科技发展动力指数及动力结构进行比较,发现中国金融科技发展综合动力水平领先金砖五国,但离发达国家还存在一定差距;短期内,中国金融科技发展的优势在于其发展动力的供需结构和期限结构保持较好的均衡性。
In this paper the development power of fintech is divided into two subsystems: supply power and demand power. The two indexes are calculated by the principal component analysis, and then are synthesized by the equivalent weighting method into the fintech development power index. By comparing the 10 countries' fintech development power index and its structure during 2010-2015, it's found that China's fintech development is leading the Brics, but there is still a big gap between China and the developed countries. In the short term, the advantage of China's fintech development is that its supply-demand structure and maturity structure of development power are the most balanced.
In this paper the development power of fintech is divided into two subsystems: supply power and demand power. The two indexes are calculated by the principal component analysis, and then are synthesized by the equivalent weighting method into the fintech development power index. By comparing the 10 countries' fintech development power index and its structure during 2010-2015, it's found that China's fintech development is leading the Brics, but there is still a big gap between China and the developed countries. In the short term, the advantage of China's fintech development is that its supply-demand structure and maturity structure of development power are the most balanced.
引文
巴曙松,2017.中国金融科技发展的现状与趋势[N].21世纪经济报道,2017-01-20(04).
北京大学互联网金融研究中心课题组,2015.北京大学互联网金融发展指数[N/OL].http://iif.pku.edu.cn.
陈卫伟、宋良荣、刘雨欣,2018.我国金融科技发展现状及推动因素分析[J].生产力研究,(1):33-38.
克里斯·安德森,2017.长尾理论:为什么商业的未来是小众市场[M].北京:中信出版集团.
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黎杰生、胡颖,2017.金融集聚对技术创新的影响---来自中国省级层面的证据[J].金融论坛,(7):39-52.
李健、林文浩,2017.中国金融创新结构的指数度量与影响因素[J].金融论坛,(4):13-29.
普华永道全球金融科技团队,2016.跨越行业界线:金融科技重塑金融服务新格局[J].金融市场研究,(5):51-63.
深圳证券交易所,2017.香蜜湖金融科技指数编制方案[N/OL].http://www.cnindex.com.cn.
粟勤、魏星,2017.金融科技的金融包容效应与创新驱动路径[J].理论探索,(5):91-97.
腾讯研究院,2017.中国“互联网+数字经济指数”[N/OL].http://www.tisi.org/4868.
杨虎、杨玥含,2016.金融大数据统计方法与实证[M].北京:科学出版社.
Bhattacharyya,S.,and Nanda,V.K.,2000.Client Discretion,Switching Costs and Financial Innovation[J].The Review of Financial Studies,13(4):1101-1127.
Chemmanur,T.J.,and Wilhelm,W.J.,2002.New Technologies,Financial Innovation and Intermediation[J].Journal of Financial Intermediation,11:2-8.
FSB,2016.Fintech:Describing the Landscape and a Framework for Analysis[R].Switzerland:Financial Stability Board.
Hannon,T.H.,and McDowell,J.M.,1984.Market Concentration and Diffusion of New Technology in the Bank Industry[J].Review of Economics and Statistics,66(4):686-691.
Kaiser,H.F.,Rice,J.,1974.Little Jiffy,Mark IV[J].Educational and Psychological Measurement,34:111-117.
Mishkin,F.S.,and Strahan,P.E.,1999.What Will Technology Do to Financial Structure?[N/OL].http://www.nber.org/papers/w6892.
Niehans,J.,1983.Financial Innovation,Multinational Bangking and Moneytary Policy[J].Journal of Banking and Finance,7:537-551.
Ross,S.A.,1989.Institutional Markets,Financial Marketing,and Financial Innovation[J].Journal of Finance,44(3):541-556.
Stephen,R.,1989.Institutional Markets,Financial Marketing,and Financial Innovation[J].Journal of Finance,44:541-556.
Tufano,P.,2002.Financial Innovation[M].Handbook of the Economics Finance:Elsevier North-Holland.
The Nasdaq Group,2018.KBW Nasdaq Financial Technology Index Methodology[N/OL].https://indexes.nasdaqomx.com/Index/Overview/KFTX.
(1)根据生命周期理论,居民理财需求从15岁持续至退休期。综合数据可得性,本文用15~64岁人口代替总人口数进行测算,两种测算方式所得结果基本一致。
(1)经测算,Z-score法标准化后测算的结果与max-min法标准化后测算的结果相同。
北京大学互联网金融研究中心课题组,2015.北京大学互联网金融发展指数[N/OL].http://iif.pku.edu.cn.
陈卫伟、宋良荣、刘雨欣,2018.我国金融科技发展现状及推动因素分析[J].生产力研究,(1):33-38.
克里斯·安德森,2017.长尾理论:为什么商业的未来是小众市场[M].北京:中信出版集团.
零壹财经华中新金融研究院,2017.全球金融科技投融资与指数报告[N/OL].http://www.01caijing.com/article/13550.htm.
黎杰生、胡颖,2017.金融集聚对技术创新的影响---来自中国省级层面的证据[J].金融论坛,(7):39-52.
李健、林文浩,2017.中国金融创新结构的指数度量与影响因素[J].金融论坛,(4):13-29.
普华永道全球金融科技团队,2016.跨越行业界线:金融科技重塑金融服务新格局[J].金融市场研究,(5):51-63.
深圳证券交易所,2017.香蜜湖金融科技指数编制方案[N/OL].http://www.cnindex.com.cn.
粟勤、魏星,2017.金融科技的金融包容效应与创新驱动路径[J].理论探索,(5):91-97.
腾讯研究院,2017.中国“互联网+数字经济指数”[N/OL].http://www.tisi.org/4868.
杨虎、杨玥含,2016.金融大数据统计方法与实证[M].北京:科学出版社.
Bhattacharyya,S.,and Nanda,V.K.,2000.Client Discretion,Switching Costs and Financial Innovation[J].The Review of Financial Studies,13(4):1101-1127.
Chemmanur,T.J.,and Wilhelm,W.J.,2002.New Technologies,Financial Innovation and Intermediation[J].Journal of Financial Intermediation,11:2-8.
FSB,2016.Fintech:Describing the Landscape and a Framework for Analysis[R].Switzerland:Financial Stability Board.
Hannon,T.H.,and McDowell,J.M.,1984.Market Concentration and Diffusion of New Technology in the Bank Industry[J].Review of Economics and Statistics,66(4):686-691.
Kaiser,H.F.,Rice,J.,1974.Little Jiffy,Mark IV[J].Educational and Psychological Measurement,34:111-117.
Mishkin,F.S.,and Strahan,P.E.,1999.What Will Technology Do to Financial Structure?[N/OL].http://www.nber.org/papers/w6892.
Niehans,J.,1983.Financial Innovation,Multinational Bangking and Moneytary Policy[J].Journal of Banking and Finance,7:537-551.
Ross,S.A.,1989.Institutional Markets,Financial Marketing,and Financial Innovation[J].Journal of Finance,44(3):541-556.
Stephen,R.,1989.Institutional Markets,Financial Marketing,and Financial Innovation[J].Journal of Finance,44:541-556.
Tufano,P.,2002.Financial Innovation[M].Handbook of the Economics Finance:Elsevier North-Holland.
The Nasdaq Group,2018.KBW Nasdaq Financial Technology Index Methodology[N/OL].https://indexes.nasdaqomx.com/Index/Overview/KFTX.
(1)根据生命周期理论,居民理财需求从15岁持续至退休期。综合数据可得性,本文用15~64岁人口代替总人口数进行测算,两种测算方式所得结果基本一致。
(1)经测算,Z-score法标准化后测算的结果与max-min法标准化后测算的结果相同。