风险输入视角下金融稳定对宏观经济影响研究

龙海明; 吴 迪

风险输入视角下金融稳定对宏观经济影响研究

引用本文：龙海明,吴迪.风险输入视角下金融稳定对宏观经济影响研究[J].湖南大学学报社会科学版,2022,(6):73-82

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作者	单位
龙海明,吴迪	（湖南大学金融与统计学院，湖南长沙 410006）

中文摘要:利用2000—2020年年度数据，从金融机构、金融市场、国内宏观经济和国际输入性风险四个维度选取31个基础指标，本研究运用主成分分析法构建我国金融稳定综合指数（CFSCI），进一步探讨金融稳定与宏观经济之间的关联影响。研究结果表明：2008年国际金融危机之后，我国金融稳定水平总体呈现波动上升态势，但外部输入性风险对我国金融稳定产生明显冲击；分析表明，金融稳定性上升能够降低经济波动，使得经济增长更加平稳；相比之下，宏观经济的运行对金融稳定影响不显著。

中文关键词:输入性风险金融稳定经济增长经济波动

Research on the Impact of Financial Stability on Macroeconomics from the Perspective of Risk Input

Abstract:Based on the annual data from 2000 to 2020, this paper selects 31 basic indicators from four dimensions of financial institutions, financial markets, domestic macro-economic and international imported risks to construct China Financial Stability Composite Index (CFSCI), and further discusses the correlation between financial stability and macro-economic impact. The results show that the overall level of financial stability in China shows a rising trend of fluctuation, but the external input risk has a significant impact on financial stability. Further analysis shows that the rising financial stability can reduce economic fluctuations and make economic growth more stable. In contrast, the operation of macro-economy has no significant impact on financial stability.

keywords:imported risks financial stability economic growth economic fluctuations

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