اختلالات سعر الصرف والناتج غير النفطي في ليبيا خلال الفترة (1963-2017)‎

الملخص EN

This paper found noticeable time misalignments from the equilibrium path for exchange rate of the Libyan dinar.

The measurements indicated that during the periods (1974-1978), (1986-2000) and (2011-2017) there were overvaluation states.

In the other direction, there were undervaluation states during the periods (1962-1973), (1979-1985) and (2001- 2010).

According to ARDL estimations, undervaluation may be the most suitable for an economy like Libya in order to support and encourage the non-oil sector.

Monetary policy in Libya needs to measure these misalignments annually to determine the appropriate state of the economy for each period.