The Impact of the Oil Prices Shocks on the Interaction between the Libyan Economy and the Economies of it's Main Trading Partners

The authors in the paper analyze the impact of the oil prices shocks on the interaction between the Libyan economy and the economies of it's main trading partners, such as: Italy, Germany, Spain, France, Greece, Great Britain and Tunisia. Using statistical methods of available data, the autors in paper study the trade relationship between Libya and its major trading partners, as well as the rest of the world. The time series used in the paper focuses on the period from 1970 to 2008