It definitely can; it really depends how you are crouching over the guitar whilst playing.
If your playing for long periods it doesn't hurt to stretch off during and after your practice; you should be taking 15 minute breaks every 60-90 minutes anyway; try some arm and back stretching during this time, and at the end of your practice.
You could also look at your posture whilst playing, you should try and keep your back pretty straight, if your leaning over the guitar then this is one of the problems. Also look at the chair your sitting on, any chair that is sat on for a long time should be well cushioned and comfortable, especially while playing an instrument. Try using a foot-stool to bring the guitar closer to you by raising your knee, this will mean that you don't have to crouch over the guitar.
As for the elbow trouble; its not unusual; I tend get that in my shoulder more than anything, not so much in my elbow, but everyone sits slightly differently. The same things apply to this, good posture and chair/stool will help, stretching the arm will never do any harm if done properly and may help.
Depending on your style of play; you might want also to try classical posture, there are plently of rock/metal/jazz men out there that also prefer this posture. In fact it is necessary if practising with a V shaped guitar.