The Causality Test Between The Changes In Exchange Rates and Balance Of Payments In Libya Economy From1966 To 2021
Keywords:
Libya Economy, Co-integration, Exchange Rates, Balance of PaymentsAbstract
The current study analyses the relationship between the changes in exchange rates and balance of payments in Libya over the period 1966 – 2021, co-integration approach was adopted in this study by using Engel-Granger method and error correction method to identify the causal relationship between exchange rates and balance of payments in the long and short term and their directions. The study resulted that exchange rate has a positive relationship with balance of payments in the long and short term.
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