Ali Omar Eliaser – Megatrend University, Maršala Tolbuhina 8, Belgrade-Serbia
6th International Conference – ERAZ 2020 – KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT, Online/virtual, May 21, 2020, CONFERENCE PROCEEDINGS
Published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia
Conference partners: Faculty of Economics and Business, Mediterranean University, Montenegro; University of National and World Economy – Sofia, Bulgaria; Faculty of Commercial and Business Studies – Celje, Slovenia; Faculty of Applied Management, Economics and Finance – Belgrade, Serbia
ISSN 2683-5568, ISBN 978-86-80194-33-2, DOI: https://doi.org/10.31410/ERAZ.2020
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
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