الرقابة على الصرف و السياسة الكمية المباشرة في الاقتصاد الليبي : الآثار و البدائل

Abstract EN

In order to reduce these negative effects on the eco-nomy, several alternative poli-cy fools are available.

The paper discusses four alterna-tives in order to deal with the balance of payments problem.

These alternatives are: 1 - Devaluation of the Li- byan dinar.

2 - Applying a multiple ex- change rate system.

3 - Floating the Libyan di- nar.

4 - Having exchange control and direct quantitative restrictions on trade.

The paper concludes that Implementing a hard ex-change control and direct res-trictions on trade, in the Li-byan economy, in order to affect the balance of pay-ments, produced several nega-tive effects on the economy.

The parallel market can not be ignored which has been ex-isting since the beginning of the eighties.

It is characterized by the black market in foreign exchanges, smuggling, and rent seeking.