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The following graph, constructed and presented by the Our World in Data project, contains information on the relationship between educational attainment rates (measured as average
The following graph, constructed and presented by the "Our World in Data" project, contains information on the relationship between educational attainment rates (measured as average years of schooling) and income per capita across different countries in 2010: https://ourworldindata.org/grapher/correlation-between-mean-years-of-schooling-and-gdp-per-capita One striking feature of this graph, is the strong positive correlation between educational attainment and income per capita across countries. [For example, the average person in the US had 13.4 years of schooling in 2010, while the average person in Niger had only 1.92 years of schooling]. A. From the perspective of the Solow Model, what exogenous parameter captures these differences in educational attainment rates across countries? Explain intuitively how higher education attainment can lead to changes in this parameter. B. What are some factors that could explain why educational attainment rates are lower in developing countries compared to developed countries
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