A Time Series Study Of Libya's Import And Growth Implications From Trade Liberalisation

This thesis aims to investigate and analyze the impact of trade liberalization policy on Libya’s import demand. The study applies the autoregressive distributed lag ARDL bound test approach of cointegration developed by Pesaran et.al (2001) to analyze annual time series data of Libya’s imports durin...

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Main Author:	Ahmed Otman Ben Amer
Format:	Thesis
Language:	English
Subjects:	Free trade > Libya Globalization > Economic aspects Imports
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spelling	my-usim-ddms-128942024-05-29T05:03:13Z A Time Series Study Of Libya's Import And Growth Implications From Trade Liberalisation Ahmed Otman Ben Amer This thesis aims to investigate and analyze the impact of trade liberalization policy on Libya’s import demand. The study applies the autoregressive distributed lag ARDL bound test approach of cointegration developed by Pesaran et.al (2001) to analyze annual time series data of Libya’s imports during the period from 1973 to 2009. The empirical results reveal the existence of a long run cointegration relationship between imports and its elaborates. The results also show that imports are influenced by an increase in income more than by a decline in relative prices. Moreover, non-tariff trade liberalization has a greater impact than tariff trade liberalization on Libyan aggregate imports. The empirical results also show that non-tariff trade liberalization has an indirect positive effect on Libya’s gross domestic product (GDP), which implies that the impact of GDP on aggregate imports is accelerated further by import trade liberalization. In addition, the analysis of import demand categories found that a trade liberalization policy that removes non-tariff barriers has a positive inelastic impact on all import demand categories with a greater impact on the imports of capital goods and raw materials than on the imports of consumption goods. However, import duty that measures tariff liberalization has no impact on all the major categories of imports investigated in this study. The empirical results also show that the relative price and income elasticities of imports are small. The lower import response to a change in prices may reflect the fact that the bulk of Libya’s imports are essential goods. Also, the weak response of imports to changes in GDP would suggest that there was a scope for import substitution in the Libyan economy during the study period. Universiti Sains Islam Malaysia 2014-02 Thesis en https://oarep.usim.edu.my/handle/123456789/12894 https://oarep.usim.edu.my/bitstreams/8ae38d2e-6724-4cfd-a84e-929509fd0b51/download 8a4605be74aa9ea9d79846c1fba20a33 Free trade -- Libya Globalization -- Economic aspects Imports
institution	Universiti Sains Islam Malaysia
collection	USIM Institutional Repository
language	English
topic	Free trade -- Libya Globalization -- Economic aspects Imports
spellingShingle	Free trade -- Libya Globalization -- Economic aspects Imports Ahmed Otman Ben Amer A Time Series Study Of Libya's Import And Growth Implications From Trade Liberalisation
description	This thesis aims to investigate and analyze the impact of trade liberalization policy on Libya’s import demand. The study applies the autoregressive distributed lag ARDL bound test approach of cointegration developed by Pesaran et.al (2001) to analyze annual time series data of Libya’s imports during the period from 1973 to 2009. The empirical results reveal the existence of a long run cointegration relationship between imports and its elaborates. The results also show that imports are influenced by an increase in income more than by a decline in relative prices. Moreover, non-tariff trade liberalization has a greater impact than tariff trade liberalization on Libyan aggregate imports. The empirical results also show that non-tariff trade liberalization has an indirect positive effect on Libya’s gross domestic product (GDP), which implies that the impact of GDP on aggregate imports is accelerated further by import trade liberalization. In addition, the analysis of import demand categories found that a trade liberalization policy that removes non-tariff barriers has a positive inelastic impact on all import demand categories with a greater impact on the imports of capital goods and raw materials than on the imports of consumption goods. However, import duty that measures tariff liberalization has no impact on all the major categories of imports investigated in this study. The empirical results also show that the relative price and income elasticities of imports are small. The lower import response to a change in prices may reflect the fact that the bulk of Libya’s imports are essential goods. Also, the weak response of imports to changes in GDP would suggest that there was a scope for import substitution in the Libyan economy during the study period.
format	Thesis
author	Ahmed Otman Ben Amer
author_facet	Ahmed Otman Ben Amer
author_sort	Ahmed Otman Ben Amer
title	A Time Series Study Of Libya's Import And Growth Implications From Trade Liberalisation
title_short	A Time Series Study Of Libya's Import And Growth Implications From Trade Liberalisation
title_full	A Time Series Study Of Libya's Import And Growth Implications From Trade Liberalisation
title_fullStr	A Time Series Study Of Libya's Import And Growth Implications From Trade Liberalisation
title_full_unstemmed	A Time Series Study Of Libya's Import And Growth Implications From Trade Liberalisation
title_sort	time series study of libya's import and growth implications from trade liberalisation
granting_institution	Universiti Sains Islam Malaysia
_version_	1812444849416175616

A Time Series Study Of Libya's Import And Growth Implications From Trade Liberalisation

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