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Revisiting the Mankiw et al. (1992) growth regressions

Author

Listed:
  • Spyridon Boikos
  • Theodore Panagiotidis
  • Elisavet Serenidou
  • Thanasis Stengos

Abstract

We revisit the famous Mankiw et al 1992 (MRW) paper by updating the data for the periods 1960-2015, 1970-2015 and 1990-2015. We present results for the Solow, the augmented Solow model and the conditional convergence on saving rates, population growth and human capital. The augmented model fits the data better. Human capital remains significant and higher than the MRW estimates for both the augmented model and the conditional convergence. The updated dataset highlights that the importance of human capital for growth is higher than MRW have demonstrated to be. The datasets for reproduction are also provided.

Suggested Citation

  • Spyridon Boikos & Theodore Panagiotidis & Elisavet Serenidou & Thanasis Stengos, 2023. "Revisiting the Mankiw et al. (1992) growth regressions," Economics and Business Letters, Oviedo University Press, vol. 12(3), pages 241-247.
    • Handle: RePEc:ove:journl:aid:19256
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    File URL: https://reunido.uniovi.es/index.php/EBL/article/view/19256
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    References listed on IDEAS

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    1. Mello, Marcelo & Perrelli, Roberto, 2003. "Growth equations: a quantile regression exploration," The Quarterly Review of Economics and Finance, Elsevier, vol. 43(4), pages 643-667.
    2. Breton, Theodore R., 2013. "Were Mankiw, Romer, And Weil Right? A Reconciliation Of The Micro And Macro Effects Of Schooling On Income," Macroeconomic Dynamics, Cambridge University Press, vol. 17(5), pages 1023-1054, July.
    3. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(2), pages 407-437.
    4. Ben S. Bernanke & Refet S. Gürkaynak, 2002. "Is Growth Exogenous? Taking Mankiw, Romer, and Weil Seriously," NBER Chapters, in: NBER Macroeconomics Annual 2001, Volume 16, pages 11-72, National Bureau of Economic Research, Inc.
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