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

Table 7

Heterogeneity of digital finance influencing green development.

	(1) Eastern cities	(2) Central and western cities	(3) Large-scale cities	(4) Small-scale cities
	Lngtfp	Lngtfp	Lngtfp	Lngtfp
Lndfi	0.0306	0.0390^∗∗∗	0.0349	0.0418^∗∗∗
	(0.0208)	(0.0143)	(0.0169)	(0.0160)
Lnpgdp	0.0029	−0.0107	−0.0073	−0.0090
	(0.0088)	(0.0073)	(0.0083)	(0.0074)
Edu	0.0098^∗∗	0.0050^∗	0.0108^∗∗∗	−0.0017
	(0.0039)	(0.0027)	(0.0027)	(0.0036)
Lnurban	0.0386	0.0484^∗∗∗	0.0629^∗∗∗	0.0356
	(0.0438)	(0.0136)	(0.0183)	(0.0224)
Fdi	0.0136	0.1744^∗	0.0445	0.1717
	(0.1405)	(0.0932)	(0.1060)	(0.1231)
Finance	0.0184^∗∗∗	0.0049^∗∗∗	0.0057^∗	0.0075^∗∗∗
	(0.0070)	(0.0017)	(0.0032)	(0.0022)
_Cons	−0.4221	−0.3131^∗∗∗	−0.4866^∗∗∗	−0.2542^∗
	(0.3088)	(0.1172)	(0.1545)	(0.1461)
Year fe	Yes	Yes	Yes	Yes
City fe	Yes	Yes	Yes	Yes
N	972	1602	1286	1286
R^2	0.7502	0.7186	0.7275	0.7387