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nal finance. The research of Forstater(2003) analyze the public service employment (PSE) or job guarantee (JG) program to full employment based on the principles of functional finance. Results suggest that these programs can create environment stability in the economy.

The study of Atesoglu (2002) analyzed the employment determinant as the stock price. By applying co integration methodology form 1991 to 2000 reveal that stock prices have a positive effect on employment. This study predicting employment with respect to the autonomous average wages units and the stock price.

The study of Glass (1999) elaborates an important issue regarding the foreign direct investment and the technology up gradation. The study found that the FDI plays in international technology transfer (ITT). A faster flow of FDI increases the rates of innovation, and imitation, so FDI generates dynamic benefits. In this retrospect the technological enhancement in an economy demand for skill labor. Similarly in Pakistan the effect of FDI is increase in demand of skill labor,

The study of Lipsey (2002) is to find out home and host country effects of FDI. Within host countries, it has been kindly shown that overseas- owned organization pay higher wages than domestically- owned firms. Foreign- owned firms tend to be in higher wage sectors of the economy. Data resulted on wage spillovers, that is, property of foreign entry or contribution in a business or region, or industry within a region, on the wages paid by domestically- owned firms, 58 is sparse, and not conclusive as to direction. It comes from positive spillovers to locally- owned plants. Or it comes from the effects of the increased demand for labor, even if there is no difference in wage levels between foreign- owned and domestically- owned plants. An expansion of foreign presence is desirable because foreign firms bring larger scale, more capital-intensive, or more technically advanced methods of production. Foreign entry and larger foreign shares of production almost always raise wage levels. Productivity comparisons between foreign- owned and domestically owned firms or establishments almost always find that the foreign- owned firms have higher productivity levels. As with the wage comparisons, some of the differences can be associated with the larger scale of production in foreign- owned plants. Evidence on spillovers of superior foreign productivity to domestically- owned firms are mixed. Perhaps the contribution of foreign firms comes partly by introducing larger scale or more capital intensive methods of production, or differences in technology may be inextricably tied to differences in scale and capital intensity. There could be effects on home country consumers from imports of cheaper goods produced by foreign affiliates. The study has no connection to find of host countries that relate consumer prices to the presence or activities of foreign affiliates.

The study of Federico and Gaetano (2007) Using several data sources, the study found the relationship between of the outward foreign investment on the domestic employment growth in Italy from 1996 to 2001 for the 12 manufacturing industries and 103 administrative provinces. Study result is that, controlling for the domestic industrial structure and area fixed effects, FDI is associated with faster domestic employment growth, relatively to the national industry average. Study also finds that empl