Variable

Increment control variable

Eliminate important provinces

Shortening sample interval

(1)

(2)

(3)

(4)

Green finance composite index

1.191135**

1.3549065***

1.148108**

1.433951***

(0.4600469)

(0.46595974)

(0.5239981)

(0.3978341)

Proportion of people in higher education

−0.0426688*

−0.0398956*

(0.0223372)

(0.0226239)

Per capita GDP

−0.1385438

(0.176459)

Control variable

YES

YES

YES

YES

Number of provinces

30

30

26

30

Observed value

300

300

260

150