Annals of the University of Oradea: Economic Science (Dec 2019)
LANGUAGE POLICY AND ECONOMICS: DOES ENGLISH LANGUAGE ACCELERATE THE WHEEL OF DEVELOPMENT IN THE ECONOMIES OR NOT? A REVIEW
Abstract
Having one common language could facilitate and reduce the cost of trading between different parties form different nations. In addition, it helps the economies to participate and benefit from the global economy. On the other hand, language policy, planning, and education are very important tools for economic development. In this paper, consequently, the focus is particularly on English language and its economic value as lingua franca for the development and how does English language proficiency increase each of Quality Education and Intercultural Competence and hence the economic advancement? Therefore, in this regard, it is important to emphasize the importance of the ‘Economics of language’, which appeared in mid-1960, and its role in deciding language policy as well as the government’s intervention. Besides that, the return from investing in English language education and its impact on foreign direct investment in different countries. This study is a literature review analysis aiming to investigate the role of English in enhancing the development of the nations. Therefore, the study includes a wide range of scholarly past and recent scientific related-works. According to this review, despite the fact that the evidence relating to the mutual impact between language and economics is limited, there is no way to deny the importance of English in the development.
