The role of the central bank of Libya in the era of globalisation

After 30 years of acting as a socialist country, political chaos, and nearly three decades of central planning control, Libya remains in the early stages of its financial liberalisation and reform. In 2003, Libya made a strategic move in order to cope with emerging challenges in the era of globalisation. This move involved the reformation of the role of the central bank in order to promote its effectiveness in managing monetary policy for economic growth and development. The broad aim of this thesis was to develop a conceptual framework and a research model that relate to the role of the central bank in Libya’s economic reform programme between 2003 and 2010. This research aims to identify the most applicable prototype for the role of CBL and to evaluate a suitable approach to carry out an effective process that will ensure Libya’s economic growth and integration into the increasingly globalised community. As such, this study contributes extensively into the subject of Libyan economic development by examining the data required to assess the effectiveness of the economic reform packages and the country’s preparedness to finalise its switch to a market-based economy. The Libyan case is extremely significant for a number of reasons. One of these key reasons is that the economic reform programmes have been considered as one of the government’s top priorities since 2003 following the lifted UN and US sanctions. Another reason relates to the fact that the CBL has been keen on developing its policies. Finally, the Libyan experience could provide new insights into the debate on the role of CBL and effectiveness of economic reform programmes and the underlying conditions for success.

Name dc:type.qualificationname

phd

Level dc:type.qualificationlevel

doctoral

Grantor dc:publisher.institution

Nottingham Trent University

Year dc:date.issued

2014

Author dc:creator

• Aboasnina, AAA