Author(s)

QiBin Zhu

Affiliation(s)

School of Mathematics and Statistics, Guangxi Normal University, Guilin 541006, Guangxi, China..

Corresponding Author

QiBin Zhu

ABSTRACT

This article employs multiple linear regression, ridge regression, and LASSO regression methods to analyze the total GDP of Hunan Province from 2002 to 2021, focusing on eight influencing factors including individual employment, total value of goods imports and exports by foreign-invested enterprises, and local fiscal expenditure. The results indicate a significant positive correlation between the total value of goods imports and exports by foreign-invested enterprises, local fiscal expenditure, and Hunan's GDP. Conversely, factors such as research and development (R&D) activities of industrial enterprises above designated size show a significant negative correlation with GDP. The experimental analysis results suggest positive implications for the healthy and stable growth of Hunan Province's GDP.

KEYWORDS

Multiple linear regression; Ridge Regression; LASSO regression; Factors influencing GDP; Multicollinearity

CITE THIS PAPER

QiBin Zhu. Analysis of factors influencing Hunan province's GDP total. Trends in Social Sciences and Humanities Research. 2024, 2(4): 107-112. DOI: 10.61784/tsshr3018.

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