Human Capital and Foreign Direct Investment: Lessons for Pakistan

Foreign direct investment plays a key role in economic development of all countries. Because of its enormous importance, a large number of empirical studies has focused on finding out the factors determining foreign direct investment. Level of human capital development is one of the major factors influencing foreign inflows. However, earlier studies examining impact of human capital on foreign investment inflows has majorly used literacy rate, school enrolment and government spending on education as its proxies. This paper also examines the impact of human capital as determinant of foreign direct investment. Contrary to earlier empirical studies, it uses cognitive skills as proxy for human capital. Cognitive skills measure the quality of education instead of literacy rate or government spending on education as proxy for human capital. Results indicate that human capital has significant positive effect on foreign direct investment for sample countries. This result is robust to disaggregated data for developed and developing countries. Other factors that determine foreign direct investment inflows are inflation, capital account openness, trade account openness and real income. Based on empirical results, it is recommended that the relevant authorities must make human capital as part and parcel of strategies aimed at augmenting economic growth in the country. There is also a lesson for a developing country like Pakistan to focus more on quality of education instead of school enrolment or education spending for attracting foreign direct investment to boost economic activity (J.E.L Classification Codes: O4, O15, P22).

A Study of Language Strategies in Transgressive Texts

This study focuses on language as a site of resistance in transgressive texts. These texts are taken as resistants to colonialism that offer meaning-making possibilities through the exploration of language strategies, and simultaneously allow the expansion of cognitive domain for seeing things from the perspective of wholeness as opposed to segregation. This quest for wholeness invites me to study the language strategies with focus on metonyms, dead metaphors and live metaphors that provide insight into colonialist practices and pave the way for anti-colonial spaces and new truths. In the context of the continuing colonial phase in new and covert ways, this study brings forth the reactive and proactive modes of resistance posited by the language strategies accordingly. Unlike the metonyms and dead metaphors, the transformational, reflexive, anti-colonial and proactive resistance prompted by the live metaphors increases chances for engagement in humanness and at the same time displays the capacity for correcting the myopic vision. Contrary to the metonymic mapping, the metaphorical mapping involves the connection between two distinct mental domains which accounts for the extension in meaning-making especially in the case of live metaphors. This study seeks to broaden the primal difference between the live and dead metaphors and the opposite roles that they play in the context of anti-colonial resistance and possible extension of cognitive abilities. Depending upon the reciprocal relationship between linguistic and thinking patterns, this research furthers the argument that language has the power either to extend mental capabilities or mislead or destroy these that would annihilate peaceful existence in the world. The positive impact of the study relates to the transformational possibilities associated with the language strategies. The tensions within language strategies address the issues of segregation, exclusion, voice and power and the release of tensions provides hope and promise for the peaceful integration of ethnic varieties in multicultural backdrop.