Exploring the digital financial inclusion of green total factor productivity in forestry

This study empirically examines the influence of digital financial inclusion (DFI) on forestry green total factor productivity (FGTFP) in China. Using panel data from 30 provinces between 2013 and 2019, FGTFP is measured using the super slacks-based measure–Malmquist–Luenberger (SBM–ML)index. The Peking University Digital Financial Inclusion Index is employed as a proxy to estimate the effects of DFI through fixed-effects regressions, while mediation and threshold mechanisms are also evaluated. The empirical results indicate that DFI significantly improves FGTFP, although this promotion exhibits a non-linear, single-threshold pattern with respect to the level of technological innovation (TI). Further mechanism analysis reveals that DFI enhances FGTFP by optimizing the industrial structure (IS) and strengthening technological innovation. Regarding regional heterogeneity, the positive effect is significant in the eastern region but remains insignificant in the central and western regions. Consequently, it is suggested that policies should prioritize digital infrastructure and inclusive finance penetration in lagging areas, utilizing targeted funds to accelerate forestry technological innovation and service-oriented industrial upgrading.