Impact of Digital Inclusive Finance on Rural High-Quality Development: Evidence from China

Table 6

Basic regression results.

		FE model		Time FE model		Two-way FE model
		Estimate	S.E.	Estimate	S.E.	Estimate	S.E.
Explained variable	DIF	0.113 (3.547)	0.032	0.893 (2.062)	0.433	0.400 (1.710)	0.234
	LAB	0.189 (2.272)	0.083	0.269 (4.122)	0.065	0.212 (2.519)	0.084
	GOV	−0.096 (−0.559)	0.172	−0.026 (−0.351)	0.073	−0.034 (−0.178)	0.193
	OPE	−0.388 (−7.017)	0.055	0.144 (0.934)	0.154	−0.391 (−6.488)	0.060
	NAT	−0.036 (−2.170)	0.017	0.046 (0.955)	0.048	−0.019 (−1.405)	0.014
	CONS	0.259 (7.641)	0.034	−0.247 (−1.327)	0.186	0.104 (0.947)	0.110
sample test		0.751		−7.219		−0.495
		244		244		244
		F (5,208) = 103.980 p = 0.001		F (5,231) = 25.098 p = 0.001		F (5,201) = 11.891 p = 0.001

Note. , , and , respectively, indicate significance at the level of 1%, 5%, and 10%; T value is in parentheses.