Financial Technology Development and Green Total Factor Productivity

As a new product resulting from the deep integration of financial industry and artificial intelligence (AI) technology, technology (fintech) has significant impact on progress green total factor productivity (GTFP). Based city-level data 2011 to 2021 in China, this paper used super-efficiency SBM model with embedded non-expected output GML index method measure GTFP levels 283 prefecture-level above cities empirically test fintech its underlying mechanisms. The empirical results showed that development had significantly promoted improvement GTFP, effect was dynamically stable. Specifically, stronger more incentive mature stage development. By decomposing into two dimensions, it found depth dynamic superimposed characteristics. Mechanism analysis can drive by improving resource allocation efficiency, optimizing human capital, incentivizing technological innovation channels. Moderating revealed regulation environmental have positive moderating baseline relationship between GTFP. Further research effects exhibit nonlinear threshold characteristics, driving only reach maximum when both are within optimal range. This study provides valuable insights for optimization fintech, transformation real economy, high-quality