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The Libyan political economy in transition

Efhialelbum, A. (2013) The Libyan political economy in transition. Global Review of Business and Economic Research, 9 (1). pp. 35-55.

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The impact of collapse of the Soviet Union not only affected communism in the adjacent countries in Eastern Europe, but also expanded to other continents such as Africa, Asia and Latin America. This study analyses the Libyan political economy in transition period after 1988 and factors that impacted the process. The study aims to compare the performance of the Libyan transition with transition economies in Eastern Europe. A significant part of the study involves using data from international financial institutions such as World Bank and IMF. Therefore, a linear regression analysis approach is used in this study. Many economic factors in Libyan and other transition economies such as: GDP, inflation, corruption, free trade and free labor have been analysed to find out the relationship among these economies. Thus, the study suggests that the Libyan transition economy is dissimilar to those in Eastern Europe in the same period. Furthermore, the study indicates that real economic transition “must be” associated with political transition; and yet Libyan transition was an exception to this rule.

Item Type: Journal Article
Murdoch Affiliation(s): School of Management and Governance
Publisher: Serials Publications
Copyright: Serials Publications
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