Financial Innovation

Table 5 Benchmark regression results

From: Impact of green digital finance on sustainable development: evidence from China’s pilot zones

Variable	eqd
Variable	(1)	(2)	(3)	(4)
gdf	0.0529^***	0.0504^***
	(0.0174)	(0.0172)
gdf_-1			0.0681^***	0.0619^***
			(0.0188)	(0.0188)
ifi	0.5300^***	0.4915^***	0.6117^***	0.4942^***
	(0.0176)	(0.0812)	(0.0217)	(0.1017)
pop	0.2643^***	0.2730^***	0.2535^***	0.2741^***
	(0.0711)	(0.0722)	(0.0787)	(0.0826)
inv	0.0953^***	0.0766^***	0.0518^***	0.0471^***
	(0.0141)	(0.0144)	(0.0170)	(0.0172)
gov	0.0857^***	0.0700^***	0.0605^**	0.0355
	(0.0297)	(0.0299)	(0.0317)	(0.0323)
inl	− 0.0016^***	− 0.0007	− 0.0020^**	− 0.0012
	(0.0022)	(0.0009)	(0.0010)	(0.0011)
Constant	− 10.8952^***	− 1.7632^***	− 1.3574^**	− 0.8683
	(1.6092)	(0.5839)	(0.6694)	(0.6739)
Firm	Yes	Yes	Yes	Yes
Year	No	Yes	No	Yes
Observations	1995	1995	1710	1710
Adjusted R²	0.7065	0.7173	0.6495	0.6562

The coefficient values in parentheses are the standard errors of the corresponding regression coefficient
***, **, *Significance levels at 1%, 5%, and 10%, respectively, the same below

Back to article page