Research on the Impact of Digital Finance on the Green Development of Chinese Cities

Table 3

Influence of digital finance on green development.

	(1)	(2)	(3)	(4)	(5)	(6)
	Lngtfp	Lngtfp	Lngtfp	Lngtfp	Lngtfp	Lngtfp
Lndfi	0.0356^∗∗∗	0.0373^∗∗∗	0.0397^∗∗∗	0.0401^∗∗∗	0.0386^∗∗∗	0.0377^∗∗∗
	(0.0109)	(0.0110)	(0.0111)	(0.0111)	(0.0111)	(0.0111)
Lnpgdp		−0.0072	−0.0083	−0.0097	−0.0106	−0.0079
		(0.0053)	(0.0053)	(0.0053)	(0.0054)	(0.0053)
Edu			0.0071^∗∗∗	0.0071^∗∗∗	0.0071^∗∗∗	0.0065^∗∗∗
			(0.0022)	(0.0022)	(0.0022)	(0.0022)
Lnurban				0.0486^∗∗∗	0.0488^∗∗∗	0.0488^∗∗∗
				(0.0130)	(0.0129)	(0.0128)
Fdi					0.0920	0.0984
					(0.0807)	(0.0804)
Finance						0.0061^∗∗∗
						(0.0018)
_Cons	−0.1319^∗∗	−0.0628	−0.0765	−0.3418^∗∗∗	−0.3274^∗∗∗	−0.3572^∗∗∗
	(0.0546)	(0.0735)	(0.0737)	(0.1021)	(0.1022)	(0.1016)
Year fe	Yes	Yes	Yes	Yes	Yes	Yes
City fe	Yes	Yes	Yes	Yes	Yes	Yes
N	2574	2574	2574	2574	2574	2574
R^2	0.7274	0.7276	0.7289	0.7303	0.7305	0.7312

Note., and are significant at the level of 10%, 5%, and 1%, respectively. The robust standard error is within the brackets. Same below.