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The implications of economic growth and income inequality on poverty: an analytical study of the Libyan Economy

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Názov: The implications of economic growth and income inequality on poverty: an analytical study of the Libyan Economy
Autori: Masoud, Yusef Y, Saci, Sami O.
Zdroj: Journal of North African Economies; Vol. 21 No. 37 (2025)
Informácie o vydavateľovi: University of Hassiba Benbouali in Chlef, Algeria, 2025.
Rok vydania: 2025
Predmety: Poverty, Income Inequality, Economic Growth, Libyan Economy, Theil Index
Popis: This research examines whether the economic growth and income inequality cause or reduce poverty in Libya from 2000 to 2023. With the help of the Vector Autoregressive (VAR) Model, the research estimates this dynamic relationship. The Theil Index measures income inequality, while individual consumption rates are used to reflect poverty levels. Economic growth is indicated by per capita real GDP. Both previous year poverty (POV-1) and previous year income inequality (INQ-1) have a positive impact on this year poverty (POV) according to the results. Interestingly, the elasticity of income inequality in affecting future poverty is quite high. A drop in income (or per capita GDP(GRW-1) in the previous year is correlated with an increase in poverty (POV). However, the inflation (INF-1) and political and security stability (Ps-1) statistically have no impact on poverty in Libya.
Druh dokumentu: Article
Popis súboru: application/pdf
Jazyk: English
ISSN: 2588-1930
Prístupová URL adresa: https://www.ajol.info/index.php/jnae/article/view/301078
Rights: CC BY
Prístupové číslo: edsair.78975075580c..b3bb04bdd0f415a8f207f8c2468d71d0
Databáza: OpenAIRE
Popis
Abstrakt:This research examines whether the economic growth and income inequality cause or reduce poverty in Libya from 2000 to 2023. With the help of the Vector Autoregressive (VAR) Model, the research estimates this dynamic relationship. The Theil Index measures income inequality, while individual consumption rates are used to reflect poverty levels. Economic growth is indicated by per capita real GDP. Both previous year poverty (POV-1) and previous year income inequality (INQ-1) have a positive impact on this year poverty (POV) according to the results. Interestingly, the elasticity of income inequality in affecting future poverty is quite high. A drop in income (or per capita GDP(GRW-1) in the previous year is correlated with an increase in poverty (POV). However, the inflation (INF-1) and political and security stability (Ps-1) statistically have no impact on poverty in Libya.
ISSN:25881930