An Empirical Analysis Using Machine Learning to Identify Features Influencing the Green Economy of India

Abstract

Due to the vast changes being experienced in the current world climate, sustainable development and green economy have become key terms as counters to the experienced climate changes. As such, this article analyzes the features of green economy that would be key in the world’s development towards a green economy and a sustainable environment. The article uses the conceptualization of green GDP as an indicator of green economic development for the analysis. The article uses dimension reduction techniques and machine learning algorithms to identify the features with high importance in green economy. Results of the analysis show that the defined factor technological investment has the highest importance on development of green economy, and economic growth also exhibits a considerable amount of importance. The study provides suggestions on the direction of policy development by stakeholders for increasing the green GDP, which acts as the indicator of green economic development.