STA642 Assignment 2 Solution and Discussion
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Low savings rate:
While foreign savings are important in financing the saving-investment gap, the most reliable source of funds for investment in a country is its own saving –Pakistan’s record in this aspect is also not encouraging. National savings as percent of GDP were around 10 percent during 1960s, which increased to above 15 percent in 2000s, but declined afterward (Figure 7). Pakistan’s saving rate also compares unfavorably with that in neighboring countries: last five years average saving rate in India was 31.9 percent, Bangladesh 29.7 percent, and Sri Lanka 24.5 percent. Similarly, domestic savings (measured as national savings lessnet factor income from abroad) also declined from about 15 percent of GDP in 2000s, to less than 9 percent in recent years (see Box 1for methodology of measuring savings). Domestic savings are imperative for sustainable growth, becauseinflow of income from abroad (remittances and other factor income) is uncertain due to cyclical movements in world economies, exchange rates, and external shocks.
Domestic Savings are then bifurcated into public and private savings. While public savings are estimated from fiscal data; private savings are taken as residual. Within private savings, an amount equalto 2 percent of GDP is assumed as corporate savings and the rest is household savings.
Fundamentally speaking, Pakistan seems to be stuck in a low-saving low-investment trap, which has seriously hampered its growth potential: a low savings rate reduces the volume of investible funds; low investments make growth spurts unsustainable; and low growth generates fewer domestic savings. It is not surprising therefore, that nearly all of Pakistan’s high growth periods have coincided with abundant inflows of foreign savings(in the form of external loans, grants and remittances).2Accordingly, whenever such inflows dried up, economic growth slid back, as domestic saving and investment were never sufficient to keep up the growth momentum Source
'The principal function of the Academy shall be to labor with all possible care and diligence to
Give definite rules to our language, and to render it pure, eloquent, and capable of treating the arts and sciences.’
Three major aims were:
To cleanse the language of impurities, both in writing and spoken language.
To establish a certain usage of words.
To compile a dictionary, a grammar, a rhetoric, and a treatise on the art Of Poetry
B. it contribution of the more usage the words of the French languageof English because more understanding of the English and French. It also include of languageof impurities because it add in speaking and writine .it should be contribute of the French language. French language IS mixture 0T the English and
To compile a dictionary, a grammar, a rhetoric, and a treatise on the art Of poetry
zans . Samuel Johnson’s Dictionary on the English Language is one of the most word was defined in detail. the definitions • ustrated with quotatienscovering every branch of learning. It was a huge scholarly achievement, a more extensive and complex dictionary than anyofits predecessors- the com arable French Dictionaries had taken 55 years to compile and requireå the dedication of 40 scholars.
A group of London booksellers first commissioned Johnson’sdictionary, as English\fluage. In the preface to the book, ohnson explains how he had found the language to be ‘copious without order, and energetic without rules’. In his view, English was in desperate need of some discipline: 'wherever I turned my view there was perplexity to be disentangled, and confusion to be regulated. However, in the process of compiling the dictionary, Johnson recognised that language is impossible to fix because of its constantly changing nature. and that his role was to record the language of the day, rather than to form it.
It had defects. Judged by modern standards, it was painfully inadequate. Its etymologies are often ludicrous. It is marred in places by prejudice. It includes a host of words with a Very questionable right to be regarded as belonging to the language.
It had positive aspects and virtues as well. It exhibited the English vocabulary much more fully than had ever been done before. It offered a spelling, fixed, even if sometimes badly, that could be accepted as standard. It supplied thousands of quotations tillustrating the use of words. Johnson himself remarked in his preface, for instances where his own explanation is inadequate ‘the sense may easily be collected entire from the examples.’ 'Every language: he says in the preface, ‘has its anomalies, which, though inconvenient, and in themselves once unnecessary, must be tolerated among the imperfections of human things, and which require only to be registered, that they may not be increased, and ascertained, that they may not be confounded: but every language has likewise its improprieties and absurdities. which it is the duty of the lexicographer to correct or proscribe.’
The chief intent of it is to preserve the purity, and ascertain the meaning of our English idiom.’
He sums it up:
• The pronunciation of the language may be fixed.
• Its attainment facilitated.
• Its purity preserved.
• Its use ascertained.
• Its duration lengthened.
• In 1756 Sheridan wrote, 'if our language should ever be fixed, he must be considered by all posterity as the founder, and his dictionary as the corner stone.