| Along with the advance of science and technology,digital technology combined with pratt & finance,and thus pratt &whitney financial to generate larger boost financial development in our country,but also made the financial become more unstable.Finance is the core of our modern economy and maintaining financial security is a strategic and fundamental importance on our country’s economic and social development.Therefore,it is necessary to clarify the impact of digital financial inclusion on regional financial risks.At the theoretical level,this paper first sorts out the concepts of digital inclusive finance and regional financial risk.Then it concludes the theoretical basis of digital inclusive finance and regional financial risks,and analyzes the influence mechanism of digital inclusive finance on regional financial risks,which can be divided into direct influence and indirect influence.Secondly,in the empirical aspect,the regional financial risk index system is constructed by the improved entropy method,then,by means of two way fixed effect model,we examine the influence of digital inclusive finance in 287 Chinese cities on the regional financial risk during the period from 2010 to 2020,and the reliability of the model results is verified by the robustness test.Then,the impact of digital inclusive finance on regional financial risk under regional heterogeneity and the impact of sub-dimensions of digital inclusive finance on regional financial risk were tested.Last but not least,the intermediary effect of innovation and research and development in the impact of digital inclusive finance on regional financial risk is tested.There sults show that:(1)Although the regional financial risk has been increasing in the last few years,there is still a big difference in the regional finance risk,especially in the west,which on average are significantly higher than those in the east and middle east.(2)Digital inclusive finance can effectively curb regional financial risks.(3)Digital inclusive finance has different capacity to resolve regional financial risk in different areas.Digital inclusive finance in the east and middle area has a remarkable slow release effect,and the middle area is the most effective one compared with the east.(4)In the sub-dimension of digital inclusive finance,the improvement of the depth of digital inclusive finance can effectively relieve regional financial risks,and the same function is also the improvement of digital inclusive finance digitalization degree.However,the coverage breadth of digital inclusive finance cannot fully demonstrate the ability to reduce regional financial risks.(5)The Intermediary mechanism test found that digital inclusive finance can significantly enhance Innovation and R&D capacity,So that regional financial risks are effectively reduced.At last,the author gives some policy recommendations based on the theory analysis and the results of the study,which is to push forward the development of the digital inclusive finance and to avoid the regional finance risk. |
