01861cas a2200253 a 4500 AALejournalIMF013518 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484385883 1018-5941 BD-DhAAL BD-DhAAL Cevik, Serhan. Searching for the Finance-Growth Nexus in Libya / Serhan Cevik, Mohammad Rahmati. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (21 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet Rahmati, Mohammad. IMF Working Papers; Working Paper ; No. 2013/092 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/092/001.2013.issue-092-en.xml IMF e-Library