This paper aims to examine the effects of oil price shocks on the economical development in Libya during the period 1968-2016, using annual data. A unit root test was conducted, in which the series was shown to be non-stationary in the level, and all variables became stationary in the first difference.. The co-integration model was applied, and the results indicated that there is a long-term relationship of oil prices on the economical development. Finally, this study concludes that increases in oil price did not significantly affect the manufacturing sector in aggregate terms. Moreover, the negative impact on the sector of agriculture Thus, this study has a significant impact in the Libyan economy in policy development on oil prices. The Libyan government needs to control the price to make sure that price volatility will not harm the manufacturing, agriculture and construction sectors.

Fluctuations in oil price and its impact on economic development is an important issue facing a growing number of world economies. A simple changes in oil prices lead to negative or positive effects on all the economic sectors. This paper seeks to investigate the impact of oil price volatility on economic sectors in the Libyan economy context on the basis of annual data spanning from 1968-2012. The Johansen based Co-integration technique is applied to examine the sensitivity of economic sectors to volatility in oil prices in the long-run. And the short-run relationship is tested by Vector Error Correction Model. Through examining the results, that there is a long-term relationship of oil prices on the agriculture, construction, manufacturing and transport sectors. Finally, this study concludes that increases in oil price did not significantly affect the manufacturing sector in aggregate terms. Moreover, the negative impact on the sector of manufacturing and agriculture. Thus, this study has a significant impact in the Libyan economy in policy development on oil prices. The Libyan government needs to control the price to make sure that price volatility will not harm the manufacturing, agriculture, construction and transport sectors.

Since the first oil price fluctuation in 1973s, macroeconomists have viewed sharp movements in the price of oil are generally as an important source of economic fluctuations. Furthermore, the very recent highs registered in the crude oil market are causing concern about possible slowdowns in the economies of many developed countries and it has a significant role in the economic growth of Libya. The purpose of this study is to investigate the effect of fluctuations in oil prices on Libya's economic growth. This is achieved by the use of (VAR) modal and co-integration techniques. In this respect, the relation between two variables will be analyzed by using annual data from 2000 to 2015. The results indicate that both series are integrated of order one I (1), having a long-term relationship between crude oil price and growth. The estimates suggest that higher oil price has a positive and statistically important impact on the economic growth of Libya.

Abstract: The research mainly aims to highlights the problems of the development budget in Libya. Through both theoretical and field study by preparation of a questionnaire distributed to a sample study of (i) employment in the budgeting in ministry of planning (ii) director of planning in sectors and ministries. Were distributed (52) questionnaire and collective about (38) questionnaire. The data was analyzed using descriptive and analytical statistical methods. The most important findings of the studying that (83%) of the research sample affirm the need for reclassification development budget to provide disclosure shows the allocation by the sectors, ministries and executive agencies. Also confirms (76%) of the study sample that the guidance document prepared by the ministry of planning that help in the process of reviewing and evaluating projects if it would be implemented.

Key words: budget; development plan; public expenditure; ministry of planning; capital expenditures

JEL Classification: O22; O21; H54; H61; G31

Purpose: This study sought mainly to investigate the effect of organisational culture on the adoption of management accounting practices (MAPs) in terms of product cost, budgeting, performance measures and decision support practices among companies operating in Libya, using selection and interaction approaches of the contingency theory.

Methodology: data was collected from 107 companies operating in Libya using a self-administered questionnaire survey. The data analysed using simple regression analysis to test the Hypothesis related to the selection approach and MACRO sobel test adopted for estimating the indirect effect in simple mediation model to test Hypotheses related to interaction approach.

Findings: the findings of the hypothesis related to the selection approach revealed that organisational culture as an overall is statistically significant in predicting the adoption of all individual groups of MAPs and the adoption of MAPs as an overall at p value < .05. Furthermore, the findings indicated that the adoption of MAPs play partial mediation role as individual groups and as an overall on the relationship between organisational culture and organisational performance.

Originality: since, the vast majority of the previous studies mainly concerned on examining the influence of organisational culture on MCS represented by a small number of MCS or specific MAPs, and most of these studiesbased only on the selection approach to examine such relationship.This study provides significant contributions towards the understanding of the organisational culture influence on the adoption of broad range of MAPs, and indicates the intervening effect between these two factors on the organisational performance using two approaches of contingency theory.

Keywords: MAPs: product cost practices; budgeting practices; performance measurement practices; decision support practices; organisational culture; organisational performance.