摘要：Growth and fluctuations in the Libyan GDP depend on oil prices and oil revenues. With data on oil revenues, GDP, capital and labour inputs spanning more than five decades we find that labour has been the most important source of growth of the per-capita income in Libya over this period. While the role of capital accumulation has been less important but positive, the contributions of TFP to growth are negative more often. Based on our analysis we conclude that the Mankiw, Romer and Weil model of economic growth [1] is not applicable to Libya, which is one of the oil-based economies in the Arab World.
