Searching for the Finance-Growth Nexus in Libya /

This paper investigates the causal relationship between financial development and economic growth in Libya during the period 1970-2010. The empirical results vary with estimation methodology and model specification, but indicate the lack of long-run relationship between financial intermediation and...

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Bibliografische gegevens
Hoofdauteur: Cevik, Serhan
Andere auteurs: Rahmati, Mohammad
Formaat: Tijdschrift
Taal:English
Gepubliceerd in: Washington, D.C. : International Monetary Fund, 2013.
Reeks:IMF Working Papers; Working Paper ; No. 2013/092
Online toegang:Full text available on IMF
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100 1 |a Cevik, Serhan. 
245 1 0 |a Searching for the Finance-Growth Nexus in Libya /  |c Serhan Cevik, Mohammad Rahmati. 
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300 |a 1 online resource (21 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper investigates the causal relationship between financial development and economic growth in Libya during the period 1970-2010. The empirical results vary with estimation methodology and model specification, but indicate the lack of long-run relationship between financial intermediation and nonhydrocarbon output growth. The OLS estimation shows that financial development has a statistically significant negative effect on real nonhydrocarbon GDP per capita growth. However, the VAR-based estimations present statistically insignificant results, albeit still attaching a negative coefficient to financial intermediation. It appears that nonhydrocarbon economic activity depends largely on government spending, which is in turn determined by the country's hydrocarbon earnings. 
538 |a Mode of access: Internet 
700 1 |a Rahmati, Mohammad. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2013/092 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2013/092/001.2013.issue-092-en.xml  |z IMF e-Library