A Theoretical Concept Analyses of Economic Policy Reforms

Abstract

The purpose of this paper is explained the concept of economic reform programmes and macro-economic performances were generally seeking the combativeness of the economic system, the satisfaction of demands, solvency of state and the welfare of citizens. An overview of the economic reform programme has become a global phenomenon in the world adopted by many developing countries in a trisection economy in the last two decades. Most of the previous socialist and even communist, economies, began the trend towards partial, or complete economic reform. Indeed, with the collapse of the Soviet Union, the newly-independent countries in Africa, the Middle East and Latin America, all came to realise the importance of economic reform programmes. Accordingly, within the last fifteen years most developing countries have implemented similar programmes, in line with recommendations and support from global organisations such as the International Monetary Fund (IMF) and the World Bank. It was argued that the key target of any economic reform programme represents the rate of economic growth and increase per-capita income in order to enhance the welfare of the economic society as a whole. This paper’s result will be useful in reaching policy decisions to develop financial markets to increase economic growth in developing countries or/ emerging economies, in general, and within Libya, in particular. Furthermore, providing empirical evidence regarding this critical issue within specific emerging economies will add to the literature on economic reform related to the macro-economic indicators and its influence on economic growth and, thus, initiate an exciting topic for the paper.