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

Table 6

External mechanism of digital finance influencing green development.

	(1)	(2)	(3)
	Lngtfp	Indurs	Lngtfp
Lndfi	0.0377^∗∗∗	0.1693^∗∗∗	0.0356^∗∗∗
	(0.0111)	(0.0564)	(0.0111)
Indurs			0.0123^∗∗∗
			(0.0045)
Lnpgdp	−0.0079	−0.4208^∗∗∗	−0.0027
	(0.0053)	(0.0576)	(0.0054)
Edu	0.0065^∗∗∗	0.0162	0.0063^∗∗∗
	(0.0022)	(0.0132)	(0.0022)
Lnurban	0.0488^∗∗∗	0.1528^∗	0.0469^∗∗∗
	(0.0128)	(0.0897)	(0.0124)
Fdi	0.0984	0.4020	0.0935
	(0.0804)	(0.4625)	(0.0805)
Finance	0.0061^∗∗∗	0.0573^∗	0.0054^∗∗∗
	(0.0018)	(0.0311)	(0.0017)
_Cons	−0.3572^∗∗∗	3.6666^∗∗∗	−0.4023^∗∗∗
	(0.1016)	(0.7295)	(0.1015)
Year fe	Yes	Yes	Yes
City fe	Yes	Yes	Yes
N	2574	2574	2574
R^2	0.7312	0.8982	0.7322