In a popular paper published in 1992 by the Quarterly Journal of
Economics (QJE), Gregory Mankiw, David Romer and David Weil
(MRW) conclude that:
“international differences in income per capita are best understood
using an [economic] growth model [where] output is produced from
physical capital, human capital, and labor, and is used for investment
in physical capital, investment in human capital, and consumption.”
(Mankiw et al. 1992 , p. 432)
Using the Eviews/GRETL dataset attached, carefully explain the
empirical evidence MRW provide in support in of their thesis. In
the light of this econometric analysis, do you share the authors’
conclusion above ?
Answer in about 1500 words (all included).
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