Research On China's Financial Systemic Risk And Its Relevance

At present,China's economic development is in a critical period of transformation and upgrading.Faced with many new problems and new challenges,the leverage ratio of the financial system remains high,and various financial products are nested and complicated,which increases the difficulty of preventing and controlling systemic risks,and resolves the financial system.The risk of gradual accumulation of internal evolution must be controlled from the source,that is,the risk of prevention and control of stocks is also strictly prevented.Through a comprehensive analysis of the dynamics of financial systemic risk research at home and abroad,the paper summarizes the research perspectives and research methods,and finds that the previous research on financial systemic risk mainly focuses on the macroeconomic perspective and the perspective of financial intermediaries.Aspects,while ignoring the impact of financial entities such as funds and trusts in the financial industry.This paper proposes a comprehensive multi-sector analysis tool(SyRIN)to lay out the research system from the top-down perspective,to design research plans from the bottom up,and to analyze the banking department,fund department,insurance department,securities department,trust department,etc.The risk profile of the five financial entity sectors and the study of the risk correlations between the various financial entity sectors and the relationship between the financial entity sectors and the overall financial system risk.This paper intends to study the risk correlation between financial entities and the systemic risks of the entire financial system from the perspective of the entire financial system.The full text includes six chapters.The first chapter introduces the research background,research ideas and research framework innovations and deficiencies.In the second chapter,the literature review summarizes and summarizes the domestic and foreign literatures from the perspectives of systemic risk research,risk measurement methods and risk transmission mechanisms.The third chapter is theoretical research,which focuses on the risk generation mechanism within each financial entity department and the risk communication channel between various departments.The fourth chapter is the research method,the theoretical derivation of the research tools of this paper,and introduces a series of indicators such as risk correlation index and system loss index to measure system risk and its relevance.The fifth chapter is empirical research,which is the application of theoretical model.It analyzes the relationship between systemic risk status and financial entity departments in China based on publicly traded data.The sixth chapter conclusions and policy recommendations mainly summarize the research conclusions and related policy recommendations.This paper has three innovations: First,from the perspective of the entire financial system,avoiding the locality and one-sidedness brought about by the research from the perspective of a single financial institution;second,analyzing the financial relevance of each department while analyzing financial The risk spillover effect and risk immunity of the department;the third is to comprehensively evaluate the direct risk contribution and the indirect risk contribution path when analyzing the risk contribution rate of each department.