CHALLENGES AND OPPORUNITIES TO TRANSITION INTO A KNOWLEDGE-BASED ECONOMY IN LIBYA
CHALLENGES AND OPPORUNITIES TO TRANSITION INTO A KNOWLEDGE-BASED ECONOMY IN LIBYA

Author(s): Ali Omar Eliaser
Subject(s): Social Sciences, ICT Information and Communications Technologies, Socio-Economic Research
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Knowledge based-economy; Challenges; Opportunities; Libya.
Summary/Abstract: Libya is an Oil- Based Economy as a large percentage of its GDP comes from oil and gas sector. The main objective of this paper is to investigate the challenges and opportunities for the transition to a knowledge based economy in Libya. The broader question in this research is firstly, what are the main challenges facing the transition into the knowledge-based economy in Libya? Secondly, what are the major opportunities for transition into a knowledge-based economy in Libya? The research methodology was based on a descriptive and comparative method of analysis. The contribution of this research is to fill the acute shortage in the Libyan literature by presenting a more comprehensive analysis and investigating the challenges and opportunities for the shift to a knowledge-based economy in Libya. The findings of this study indicate several obstacles for a transition to a knowledge-based economy in Libya such as political, social, economic, institutional, and organisational obstacle.

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