Technological Progress and Its Impact on the Libyan Economy.
DOI:
https://doi.org/10.54172/txknxx14Keywords:
Non-oil production sector, Technological progress, Outputs, Factors of Production, GrowthAbstract
The main purpose of this study was to present the role played by technical progress in the Libyan non-oil productive sector. For this purpose two distinct approaches were reviewed, the parametric approach within which three indices were constructed, i.e. Solow, Wan and Kendrick indices, and within the non-parametric approach three specifications were also given to technological change: constant, variable and continuous, and variable and discrete. The principal finding of the study that the technical progress has a positive impact on the economic growth of the non-oil productive sector during the period under consideration. In conclusion then, the Libyan non-oil productive sector was gaining from technical progress.
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Copyright (c) 2025 Abdul Matloub Ahmed Boufarouh (Author)
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