Year

2019

Degree Name

Doctor of Philosophy

Department

School of Accounting, Economics and Finance

Abstract

Resource abundance should play an essential role in the economic growth of Middle East and North Africa (MENA) countries. However, whilst Libya is one the largest oil-producing and exporting countries in the MENA group, reliance on oil has had adverse impacts on non-oil sectors, resulting in a prolonged periods of slower economic growth and high inflation. Hence, reliance on plentiful oil reserves may be more of a curse than a blessing for Libya.

This study focuses on the ‘Dutch disease’ component of the resource curse, whereby considerable foreign-currency-denominated revenue from oil exports has appreciated the real exchange rate, ensuring loss of competitiveness of domestic non-oil exports. Domestic inflation has also resulted from these developments. This is particularly noticeable for Libya that is the focus of this study...

This thesis is unavailable until Sunday, January 10, 2021

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Unless otherwise indicated, the views expressed in this thesis are those of the author and do not necessarily represent the views of the University of Wollongong.