A Revisit to Augmented Solow Model Does Augmented Solow Model Explains Income Differences with Recent Economic Data?

In their landmark of study, Mankiw Romer and Weil (MRW) (1992) concluded that international differences in income per capita are best explained by using augmented Solow growth model. This paper attempts to replicate their job by using latest data, and with a touch of Asia countries as part of the samples. The initial results confirmed the findings by the original authors, however, the results with latest data update show a different pattern from the original paper. Some coefficients’ magnitude become much stronger compared with what MRW and Textbook Solow Model suggested.