[Retracted] How Does Digital Finance Affect People’s Income: Evidence from China
Table 4
The effects of digital financial development on residents’ income: grouped by urban-rural and high- and low-skilled residents.
（1）
（2）
（3）
（4）
（5）
（6）
College and above
Below college
High school and above
Below high school
Urban
Rural
High-skilled
Low-skilled
High-skilled
Low-skilled
DF
0.0019
0.0030
0.0011
0.0024
0.0014
0.0027
(0.0002)
(0.0004)
(0.0004)
(0.0002)
(0.0003)
(0.0002)
Age
0.1102
0.1276
0.1126
0.1170
0.1110
0.1148
(0.0063)
(0.0091)
(0.0188)
(0.0053)
(0.0118)
(0.0057)
Age squared
−0.0015
−0.0017
−0.0013
−0.0016
−0.0013
−0.0016
(0.0001)
(0.0001)
(0.0002)
(0.0001)
(0.0001)
(0.0001)
Gender
0.3261
0.4083
0.0588
0.3848
0.1804
0.4053
(0.0201)
(0.0357)
(0.0382)
(0.0194)
(0.0245)
(0.0226)
Years of education
0.0308
0.0244
0.0052
0.0270
0.0335
0.0221
(0.0033)
(0.0051)
(0.0200)
(0.0030)
(0.0149)
(0.0039)
Urban
0.0699
0.0277
0.0927
0.0161
(0.0605)
(0.0180)
(0.0340)
(0.0197)
Married
0.0634
0.0734
0.0382
0.0607
0.0202
0.0716
(0.0252)
(0.0399)
(0.0458)
(0.0235)
(0.0315)
(0.0272)
Rural household registration
−0.0036
−0.0100
−0.0816
−0.0045
0.0029
−0.0067
(0.0061)
(0.0058)
(0.0427)
(0.0052)
(0.0027)
(0.0060)
CPC
0.1674
0.0493
0.1951
0.1249
0.1794
0.0965
(0.0269)
(0.0464)
(0.0551)
(0.0258)
(0.0352)
(0.0299)
Health levels
0.0358
0.0518
−0.0191
0.0465
−0.0032
0.0505
(0.0087)
(0.0135)
(0.0189)
(0.0077)
(0.0126)
(0.0085)
Provincial fixed effects
Yes
Yes
Yes
Yes
Yes
Yes
Occupational fixed effects
Yes
Yes
Yes
Yes
Yes
Yes
Industry fixed effects
Yes
Yes
Yes
Yes
Yes
Yes
_cons
6.6658
6.8256
8.1020
6.5566
7.3828
6.5881
(0.2040)
(0.3505)
(0.6380)
(0.1771)
(0.3559)
(0.2002)
Observations
9522
5057
1523
13056
3397
11182
Adjusted R2
0.3110
0.2986
0.2720
0.3021
0.2311
0.2962
,, and denote passing the 1%, 5%, and 10% significance tests, respectively; values in parentheses below the coefficients are robust standard errors; dependent variable indicators are logarithmic values of residents’ income, and regressions control for the province, occupation, and industry individual effects.
