A Contribution to the Empirics of Economic Growth
1992/05/01 by N. G. Mankiw, N. Gregory Mankiw, D. Romer +3 · 15,199 citations
Economics, Econometrics and Finance · Environmental Science · #Capital (architecture) #Constant (computer programming) #Convergence (economics) #Econometrics #Economic Growth and Productivity #Economic growth #Economics #Fiscal Policy and Economic Growth #Growth accounting #Growth model #Human capital #Macroeconomics #Market economy #Population #Population growth #Productivity #Solow residual #Standard of living #Sustainable Development and Environmental Policy #Total factor productivity
paper · doi:10.2307/2118477
published in The Quarterly Journal of Economics 107(2), 407-437 (Oxford University Press)
openalex publication_date 1992/05/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/08/06
Abstract
This paper examines whether the Solow growth model is consistent with the international variation in the standard of living. It shows that an augmented Solow model that includes accumulation of human as well as physical capital provides an excellent description of the cross-country data. The paper also examines the implications of the Solow model for convergence in standards of living, that is, for whether poor countries tend to grow faster than rich countries. The evidence indicates that, holding population growth and capital accumulation constant, countries converge at about the rate the augmented Solow model predicts.
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