Evaluation And Factor Analysis Of The Vulnerability In China's Finance And Technology Coupling System

At present,China is in a critical period of economic reforming and upgrading.The coordinated development of the finance and technology coupling system has an important impact on promoting China's economic development and building an innovative country.The government has also attached great importance to the deep integration of finance and technology,and proposed to promote financial innovation and technological innovation,as well as improve the finance and technology integration mechanism.Reducing the vulnerability of the finance and technology coupling system is the key to ensuring the coordinated development.Although some progress has been made in the research on the finance and technology coupling system,the correlative theories and the impact of external factor on the vulnerability of the coupling system still need to be explored.This thesis proceeds from the research on theories of the vulnerability of the finance and technology coupling system.Firstly,the connotation and characteristics of vulnerability are analyzed based on the concept and operation process of the coupled system of finance and technology.It is considered that vulnerability refers to the sensitivity of the coupled system to internal and external changes,and it has mutation under the disturbance of unfavorable factors.When the internal damage of the system is excessively accumulated,the regional and restorative systemic-crisis is generated,and it is concluded that the vulnerability of coupling systems is characterized by concealment and contagiousness.Secondly,based on the structure of the coupling system,the internal factors of the vulnerability of the coupling system are analyzed.Finally,the external factor that affects the vulnerability of the vulnerability and the mechanism of the external factor are analyzed.Based on the theoretical analysis,this thesis constructs the index system and model by using entropy method and catastrophe progression method to estimate the vulnerability index of the coupling system.Then the gray system theory is used to analyze the influence degree of the external factor on the coupling system vulnerability.Finally,based on the empirical results,this thesis provides suggestions for the formulation and improvement of relevant policies in the future,and it is expected to contribute to the coordinated and sustainable development of China's finance and technology coupling system.The results show that:(1)The vulnerability of China's finance and technology coupling system generally declines first and then slowly rises;the reduction of bank's vulnerability and the improvement of financial supervision can effectively reduce the vulnerability of the coupling systems;the unbalanced development of technology system structure increases the vulnerability of the coupling system;compared with the crisis and the post-crisis,the pre-crisis coupling system is more fragile.(2)At present,the impact of every external factor on the vulnerability of coupling system ranks from large to small as follows: openness,educational environment,economic environment and policy environment.The degree of openness has the greatest impact on China's coupling system,which is due to,at this stage the large amount of capital flow brought about by the improvement of openness,this thesis argues that the large amount of capital flows brought about by the improvement of openness not only improves the efficiency of capital allocation,but also implies aggression and destructiveness,moreover,China's financial system is not perfect,and it is more vulnerable to crisis when attacked by capital;the education environment also has a great impact on the vulnerability of the coupling system,because the continuous development of the coupling system puts forward higher and newer requirements for personnel training,while personnel training has backwardness;compared with other dimensions of external factor,policy environment has the least impact on the vulnerability,but this does not indicate that policy environment has no significant impact on the vulnerability of finance and technology coupling system.