<p>Inclusive growth is closely linked to Sustainable Development Goal (SDG-8), which aims to achieve sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all. Inclusive growth focuses on reducing inequalities and promoting human well-being by ensuring equal access to economic opportunities and the benefits of growth. This study investigates the factors influencing inclusive growth and the role of remittances (RM) and renewable energy in inclusive growth for Pakistan from 1991 to 2023. Machine learning models, namely Gradient Boosting and Random Forest, and Regression Algorithms (Ridge, Lasso), have been employed. In addition, we applied the fully modified ordinary least squares (FMOLS) and the dynamic OLS (DOLS) as analytical techniques for analysis. The empirical results of the machine learning models highlight the significant impact of remittances on inclusive growth, followed by carbon emissions, life expectancy, renewable energy, and inflation. The estimates of Ridge, Lasso, FMOLS, and DOLS show that remittances, renewable energy, and life expectancy have a positive effect on inclusive growth, while carbon emissions and inflation have a negative impact in Pakistan. The study provides valuable policy implications to achieve inclusive and sustainable economic growth in line with UN sustainable development goals.</p> Graphical Abstract <p></p>

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Machine Learning Insights on Inclusive Growth Determinants in Pakistan: Examining the Role of Remittances and Renewable Energy in Achieving SDG-8

  • Ijaz Uddin,
  • Muhammad Azam Khan,
  • Muhammad Tariq

摘要

Inclusive growth is closely linked to Sustainable Development Goal (SDG-8), which aims to achieve sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all. Inclusive growth focuses on reducing inequalities and promoting human well-being by ensuring equal access to economic opportunities and the benefits of growth. This study investigates the factors influencing inclusive growth and the role of remittances (RM) and renewable energy in inclusive growth for Pakistan from 1991 to 2023. Machine learning models, namely Gradient Boosting and Random Forest, and Regression Algorithms (Ridge, Lasso), have been employed. In addition, we applied the fully modified ordinary least squares (FMOLS) and the dynamic OLS (DOLS) as analytical techniques for analysis. The empirical results of the machine learning models highlight the significant impact of remittances on inclusive growth, followed by carbon emissions, life expectancy, renewable energy, and inflation. The estimates of Ridge, Lasso, FMOLS, and DOLS show that remittances, renewable energy, and life expectancy have a positive effect on inclusive growth, while carbon emissions and inflation have a negative impact in Pakistan. The study provides valuable policy implications to achieve inclusive and sustainable economic growth in line with UN sustainable development goals.

Graphical Abstract