ESTIMATION OF THE CUP DOUGLAS PRODUCTION FUNCTION FOR THE AGRICULTURAL SECTOR IN LIBYA (APPLIED STUDY FOR THE PERIOD 1970-2008) | ||||
| Sinai Journal of Applied Sciences | ||||
| Article 4, Volume 1, Issue 1, December 2012, Page 35-48 PDF (837 K) | ||||
| DOI: 10.21608/sinjas.2012.78386 | ||||
 View on SCiNiTO | ||||
| Author | ||||
Abd-Elmatlob Abo-Farwa 
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| Fac. Econ., Omar ElMokhtar Univ., Laybia | ||||
| Abstract | ||||
| This study aimed to analyze the relative importance of the factors of production and their contribution to the development of the GDP of the agricultural sector in Libya, by estimating the Cobb-Douglas production function under the conditions of stability and change of volume return for the time period 1970-2008, the production function was estimated using the least squares method. Ordinary OLS, using several variables, and at fixed prices. The study concluded satisfactory and acceptable results, including the direct relationship between each of the agricultural gross domestic product and the factors of production (labor and capital). By 0.65%, and that agriculture in Libya depends on the change in the capital component more than its dependence on the change in the labor component, which was in accordance with the expectations of the study, the study also showed the direct relationship between both agricultural production and the technology coefficient represented in the time component. | ||||
| Keywords | ||||
| Cobb-Douglas production function; GDP; Production elements; agriculture sector | ||||
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