Revisiting the Mankiw et al. (1992) growth regressions

Autores/as

  • Spyridon Boikos
  • Theodore Panagiotidis University of Macedonia, Greece
  • Elisavet Serenidou
  • Thanasis Stengos

DOI:

https://doi.org/10.17811/ebl.12.3.2023.241-247

Palabras clave:

Economic Growth, Human capital, Education, Neoclassical model

Resumen

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.

Citas

Acemoglu, A., (2009), Introduction to Modern Economic Growth, Princeton University Press, 91-93

Bernanke, B. S., & Gürkaynak, R. S. (2001). Is growth exogenous? Taking Mankiw, Romer, and Weil serious-ly. NBER macroeconomics annual, 16, 11-57.

Breton, T. R. (2013). Were Mankiw, Romer, and Weil right? A reconciliation of the micro and macro effects of schooling on income. Macroeconomic Dynamics, 17(5), 1023-1054.

Campante, F., Sturzenegger, F., & Velasco, A. (2021). Advanced macroeconomics: an easy guide. LSE Press, 96-97

Mankiw, N. G., Romer, D., & Weil, D. N. (1992). A contribution to the empirics of economic growth. The quarterly journal of economics, 107(2), 407-437.

Mello, M., & Perrelli, R. (2003). Growth equations: a quantile regression exploration. The Quarterly Review of Economics and Finance, 43(4), 643-667.

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Publicado

2023-10-09

Cómo citar

Boikos, S., Panagiotidis, T., Serenidou, E., & Stengos, T. (2023). Revisiting the Mankiw et al. (1992) growth regressions. Economics and Business Letters, 12(3), 241–247. https://doi.org/10.17811/ebl.12.3.2023.241-247

Número

Vol. 12 Núm. 3 (2023): September - Special Issue selected papers from AMEF 2022 Greece (Editor-in-Charge: Theodore Panagiotidis)

Sección

Special Section

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