Forecasting GDP in less developed countries with machine learning algorithms

In this thesis study, innovation and innovation factors that determine the economic performance in underdeveloped countries were examined and it was aimed to select the machine learning model that best predicts the Gross Domestic Product (GDP) per capita. Income is an important driver of GDP per capita for both underdeveloped and developing countries. In this study, innovation factors such as R&D, technology and education were used and GDP per capita was estimated with these factors. The data set used in the study was compiled by Muhammad Khan Salar in 2021. According to the analysis results, it was concluded that the model that provides the best per capita GDP prediction is ExtraTree.