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

Table 5

Internal mechanism of digital finance influencing green development.

	(1)	(2)	(3)	(4)	(5)	(6)
	Lngtfp	Lngtfp	Lngtfp	Lngtfp	Lngtfp	Lngtfp
Lncov	0.0157^∗∗∗	0.0166^∗∗∗
	(0.0048)	(0.0049)
Lnuse			0.0111	0.0102
			(0.0075)	(0.0074)
Lndig					0.0013	0.0025
					(0.0042)	(0.0042)
Lnpgdp		−0.0087		−0.0048		−0.0053
		(0.0054)		(0.0053)		(0.0053)
Edu		0.0063^∗∗∗		0.0057^∗∗∗		0.0059^∗∗∗
		(0.0022)		(0.0022)		(0.0022)
Lnurban		0.0473^∗∗∗		0.0490^∗∗∗		0.0485^∗∗∗
		(0.0129)		(0.0128)		(0.0129)
Fdi		0.1106		0.1292		0.1383^∗
		(0.0808)		(0.0815)		(0.0809)
Finance		0.0061^∗∗∗		0.0063^∗∗∗		0.0065^∗∗∗
		(0.0018)		(0.0018)		(0.0018)
_Cons	−0.0312	−0.2341^∗∗∗	−0.0092	−0.2526^∗∗∗	0.0397	−0.2068^∗∗
	(0.0239)	(0.0901)	(0.0375)	(0.0975)	(0.0214)	(0.0925)
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	0.7272	0.7310	0.7261	0.7297	0.7257	0.7294