The Impact of Green Finance Development on China’s Energy Structure Optimization

Table 12

Direct effect, indirect effect, and total effect of the spatial Durbin model.

	TEC			REC
Variables	Direct effect	Indirect effect	Total effect	Direct effect	Indirect effect	Total effect
GFI	−0.840	−0.038	−0.879	1.399	2.178	3.577
LUR	1.310	−0.767	0.542	−0.618	0.443	−0.175
ISI	0.015	0.040	0.056	−0.036	−0.104	−0.141
LGV	−0.076	0.157	0.080	−0.102	−0.252	−0.355
LOPEN	−0.032	−0.012	−0.045	−0.066	−0.215	−0.281
TPI	0.164	−0.344	−0.179	0.164	−0.344	−0.179

 < 0.1,  < 0.05, and  < 0.01.