Light of econometric analysis

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Reference no: EM13764314

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?

Reference no: EM13764314

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