Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)

Predicting Impact of COVID-19 on the Global Economy Based on Hybrid Model

Authors
Jincheng Zuo1, *, Fenglan Ma1, Shaun Chen2
1Nanjing University
1Xinjiang Uygur Autonomous Region Development and Reform Commission
2Shanghai American School
*Corresponding author. Email: care885@qq.com
Corresponding Author
Jincheng Zuo
Available Online 26 March 2022.
DOI
https://doi.org/10.2991/aebmr.k.220307.315How to use a DOI?
Keywords
economy; COVID-19; hybrid model; AdaBoost; Linear Regression; Decision Tree; MSE
Abstract

The outbreak of COVID-19 has caused hitherto unknown damage to the global economy, resulting in a large number of company failures and staff unemployment. In order to suppress the further spread of the virus, many countries and regions have adopted quarantine policies to varying degrees. This has led to the failure of normal business activities and financial market behaviors. The health crisis caused by the new crown pneumonia has gradually turned into an economic crisis. In this paper, the data provided by the KAGGLE competition platform is used to analyze and predict the impact of COVID-19 on the economy. A mixed prediction model (AdaBoost, Linear Regression, Decision Tree) is constructed to predict the GDP per capita of different countries. The results show that the hybrid model has the highest accuracy. Specifically, the lowest MSE index score of our model is 7.57, and KNN and decision tree algorithm are 2.23 and 2.19 higher than our hybrid model respectively.

Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
26 March 2022
ISBN
978-94-6239-554-1
ISSN
2352-5428
DOI
https://doi.org/10.2991/aebmr.k.220307.315How to use a DOI?
Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Jincheng Zuo
AU  - Fenglan Ma
AU  - Shaun Chen
PY  - 2022
DA  - 2022/03/26
TI  - Predicting Impact of COVID-19 on the Global Economy Based on Hybrid Model
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 1918
EP  - 1922
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.315
DO  - https://doi.org/10.2991/aebmr.k.220307.315
ID  - Zuo2022
ER  -