The Impact Of The Development Of Fin Tech On Employment

The rapid development of FinTech has attracted wide attention,and the research on FinTech has been gradually developed at home and abroad.FinTech is based on the emerging internet and other information technology,and it has been appied in the financial field ofpayment,clearing,lending and financing,and become the mainstream trend of future development.In the past five years,FinTech has accumulated over 56.5 billion US dollars and increased more than 10 times.In 2017,the global FinTech technology financing amounted to 16.6 billion US dollars,of which Asian FinTech financing accounted for about 35%of the total global financing.The development of FinTech in China is very rapid.In particular,the scale of development of third-party payment and online lending has even surpassed that of many developed countries.At the sanme time as it continues to develop,our country's real economy and employment are deeply affected by it.Based on technology support,more people can enjoy financial services and repay the economy.At the same time,it has accelerated the flow of social capital,promoted the development of existing industries and increased new industries,and the employment demand has grown.The paper links the development of FinTech with employment,and studies its impact on employment and the related industries from the specific angle of FinTech.And considering the direct impact of the development of FinTech on the traditional financial industry,the influence of FinTech on the employment of traditional financial industry is studied in this paper.Through cointegration analysis,Grainger Granger causality test,impulse response analysis and other measurement methods,the data of FinTech and employment and financial industry employment are analyzed from 1997 to 2016.The results of the study show that FinTech will have an impact on employment,and for a long period has showed a positive effect.The development of FinTech has a great impact on the employment of the financial industy,especially for the traditional financial industry,and it has a negative impact on the long-term performance.At the end of the article,some policy suggestions are given to solve the problem of employment and how to effectively develop FinTech in China.The first chapter of this article mainly introduces the research background,research ideas and innovations of this article.The second chapeter elaborates and compares the relevant concepts of FinTech and introduces the relevant literatures at home and abroad.The third chapter discusses the impact of FinTech on the related industries and the whole economy,and mainly discussed the impact on employment of financial industry.The fourth chapter empirically examines the impact of FinTech on employment and the employment of financial industry,and analyzes the test results.The fifth chapter is the conclusions and recommendations of this paper.