Analysis Of The Impact Of Technological Innovation On Employment In My Country's Financial Industry

In recent years,the rapid development of modern technology is gradually remodeling the production and lifestyle of human society.The deep integration of emerging technologies and financial industries,represented by big data,block chains,artificial intelligence and other technologies,is bringing a subversive change to the whole financial field.Technology leading,technology-driven and collaborative innovation has gradually become a consensus of the financial industry.Under the circumstances,the idea of financial science and technology(Fintech)emerged,which is not only focused by global investors and entrepreneurs,but also brings unprecedented impact on the whole financial industry,especially commercial banks.The effective operation of financial system is closely related to the health of the national economy,and the implementation of the national employment promotion policy cannot be successful without the strong support by the financial industry.So we should focus on cultivating the scientific and technological innovation ability of the financial industry,and it can be supposed to provide a positive impact for the overall employment rate and scale of the whole country.This article is based on the above background as an opportunity and starting point,and strives to explore what kind of impact the technological innovation has on the employment of financial industry.According to the research ideas of this paper,the full text is mainly divided into five parts.The first chapter introduces the background and significance,research ideas,etc.The second chapter is literature review.First of all,it analyzes the definition of scientific and technological innovation,and defines the concepts related to scientific and technological innovation in the research process of this article.Secondly,the literature reviews the relationship between technological innovation and financial development,and the impact of technological innovation on financial industry employment.The third chapter analyzes the development of technological innovation in the financial industry and its impact on employment.The first section systematically expounds the development background,status and future trends of technological innovation in the financial industry.The second section conducts a theoretical analysis of the mechanism by which scientific and technological innovation affects the employment of the financial industry from two perspectives:direct effect and indirect effect.The fourth chapter is the empirical research part,using the econometric method to explore the direct and indirect effects of technological innovation on China's financial industry employment.The fifth chapter was based on the theoretical and empirical analysis of the relevant conclusions.There are two main features and innovations in this paper.On the one hand,in terms of research content,most of the current researches are still based on the impact of financial development on employment from a broad perspective,however the relevant research on the impact of current emerging financial technology on employment is hard to see.In view of the increasingly rapid development of financial technology in recent years,financial products and service have made great progress under the guidance of science and technology.This paper uses this event as the motivation for research and explores the innovation and development of science and technology since the 21 st century.On the other hand,in terms of the analytical methods,empirical research on scientific and technological innovation by domestic and foreign scholars is rare at present,and there is no precise conclusion on the selection of indicators for the impact of scientific and technological innovation on financial development.This paper draws on the analysis models used by previous scholars and uses related panel data as samples to establish a panel model of fixed effects for empirical testing.The research results show that,firstly,the innovative development of science and technology can have a positive impact on the employment situation in China's financial industry.The development of financial technology has a direct effect on promoting employment.However,the positive influence of the number of applied scientific and technological achievements in the financial industry is significantly greater than the number of registered scientific and technological achievements.It can be seen that the transformation of substantive scientific and technological achievements into applied achievements will have a more positive impact on the employment level of the financial industry.Secondly,scientific and technological innovation can promote the per capita GDP of the financial industry in a broad sense,and exert the indirect effect of improving the employment of the financial industry.Furthermore,the innovation and development of science and technology has totally different direct and indirect effects on the employment of financial industry in various regions,indicating that the development level of fintech in different regions of China is different as well,and the degree of its effect on the employment of financial industry will also change accordingly.Through the theoretical and empirical research conclusions,the paper has recommended a number of policy recommendations.First of all,the government should strengthen the policy support and increase the investment in scientific and technological development.On the one hand,we should continue to improve financial support.On the other hand,we ought to accelerate the formation of leading fintech enterprises,encourage these companies to carry out technological innovation and business model innovation.Secondly,we should strengthen the construction of fintech talent team,speed up the reserve of high-leveled skilled labor,and improve the quality of human resource.Last but not least,in order to prevent new risks that fintech may cause unpredictably,we should attach importance to the supervision.So we can finally create an atmosphere of fintech supervision and development which will match the national conditions.