Abstract

Since the passing of the Petroleum Law of 1955, the Libyan government's efforts to lessen its reliance on income from petroleum and diversify its economy have not succeeded, although impressive progress has undoubtedly been made, especially since 1970, in the fields of infrastructure development, power transmission, agriculture, education, housing, health, gender issues as well as in banking and corporate reform. In this paper we will analyse reasons for this, which are far more complex than those prescribed in the conventional approach to this failure by many ...