Privatization Policy in Libyan Economy Motivation - Positivisty and Negativity | ||
| Fayoum Journal of Agricultural Research and Development | ||
| Article 15, Volume 19, Issue 1, January 2005, Pages 1-31 PDF (721.98 K) | ||
| Document Type: Research articles. | ||
| DOI: 10.21608/fjard.2005.197808 | ||
| Authors | ||
| Adly S. Tolba; Joma A. Ifhima | ||
| Abstract | ||
| The unsuccessful trail of governmental industry and the failure of public sector in managing and using available resources in economical efficient way. Also, the international situation which pushed toward shifting to market economy, where the privatization policy is the main step which should be followed to make that change. The aim of this study is to review the international and national motivation pushing toward the application of policies to shift to market economy. In this study, the main indicators of the Libyan economy during 1973-2002 have been analyzed which in general was recognized by high rate of growth (9.6%) and (7.3%) in seventies. After that, in eighties and nineties, the Libyan economy started with a stage of non stabilized rates of growth and provided negative or low positive rates of growth. These happened while investment and capital accumulation experienced low rates because of slow growth of GNP and exclusive of the privet sector to participate in development program. These lead to deficit in public finance and its ability to fulfill the needs of investment and consumption sectors. Also, the rates of implementation of productive resources in general companies have been slow down because of the shortage in row materials and other inputs which lead to shutdown of most of industrial and agricultural projects as a result of poor management and weakness of monetary frameworks. This study expected positive effects of the privatization program on public finance, but its negative effect expected to be on the labor sector in the short run. In the long run, the study expected the negative effects to be vanished because of the increase in privet and public investments. The study recommends to apply the performance of monetary and financing policies at the same time of applying the privatization program to ashore its success, and also, establishment of the Libyan monetary market and setting up the management roles in all sectors. This study, also, recommended the performance of general public acceptance of privatization policy | ||
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