The Role of Local And Foreign Investment In Developing The Libyan Economy (An Econometrics Comparative Study)
DOI:
https://doi.org/10.54172/mjsc.v15i1.896Abstract
The study aimed to determine the most important features of the Libyan economy in the past stage, and the contribution of each of the public sector and the foreign investment in the economic activity through the measurement of the most important affecting factors in each of them, and then comparing the marginal efficiency for investment and the commodity (goods) returns.
The study has utilized quantitative statistical and econometrics methods in the gross local product, inflation, productivity loans, and gross taxes are the most important limiting factors of local investment, whereas it was found that the most important limiting factors of the foreign investment were the gross local product, inflation , and exchange rate.
The assessment result showed that the foreign investment (as a private sector) fulfills investment returns as twice as those achieved in the local investment of the public sector , as it reached the total elasticity of the foreign investment (3.28) whereas it reached (1.26) in the local investment of the public sector. In the view of these results, a number of technical and organizational principles were suggested to convert the public sector establishment into private sectors, and putting lawful and legislative restrictions for that , thereafter permitting the foreign private sector to participate in the development, prices and trade freeing, and freeing interest and exchange rates, in addition to regulating the government's expenditure, and gradually lifting the government's support to the commodities prices, and trying to convert Libya to an international center for free trade between Africa, Europe and other parts of the world.
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