Economic growth in Libya and resource curse phenomenon Does trade openness improve the situation?

Abstract

The aim of this study is to estimate the impact of trade openness on the relationship between natural resources and economic growth in the Libyan economy during the period 1962-2017. In order to achieve its objective the study utilized Augmented ARDL model and Augmented VAR model. The main findings of the study indicated a positive impact of trade openness on the relationship between natural resource abundant index and economic growth. However, a negative impact of trade openness on the relationship between natural resource dependence index and economic growth was captured.

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