Research Article
Impact of Financial Development and Its Spatial Spillover Effect on Green Total Factor Productivity: Evidence from 30 Provinces in China
Table 3
SDM regression results of the impact of financial development on green total factor productivity.
| | Dependent variable | (1) | (2) | (3) | | GTFP | INN | GTFP |
| | FD | 0.0434 (1.7969) | 0.1429 (9.015) | 0.0082 (0.3286) | | INN | | | 0.3227 (5.0769) | | FDI | −0.0325 (−2.8835) | −0.0303 (−4.1165) | −0.0185 (−1.6735) | | DGDP | −0.8796 (−3.8618) | 0.9514 (6.4016) | −0.9538 (−4.155) | | DENS | −0.0685 (−2.4371) | 0.0027 (0.1502) | −0.0858 (−3.1341) | | W × FD | −0.1131 (−2.5112) | 0.0273 (0.8833) | 0.0208 (0.4026) | | W × INN | | 0.4833 (11.2488) | −0.7159 (−5.8849) | | W × GTFP | 0.2700 (5.3083) | | 0.2720 (5.3922) | | R square | 0.8199 | 0.9830 | 0.8326 | | Sigma2 | 0.1191 | 0.0514 | 0.1107 | | Log likelihood | −192.8546 | 46.3365 | −170.8221 |
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, , and indicate significance at the 10%, 5%, and 1% levels, respectively. |
