Investment, growth, and defense expenditure in the EU15: Revisiting the nexus using SIPRI’s new consistent dataset

Christos Kollias and Suzanna-Maria Paleologou ()
Additional contact information
Suzanna-Maria Paleologou: Department of Economics, Aristotle University of Thessaloniki, Greece

Economics of Peace and Security Journal, 2016, vol. 11, issue 2, 28-37

Abstract: Using SIPRI’s new consistent database on military expenditure and employing a panel vector autoregression (PVAR) methodology, the article investigates the nexus between military expenditure and two key macroeconomic variables, namely growth rates and investment spending for the case of the EU15 countries over the period 1961–2014. The findings reported herein do not support the effective demand stimulation argument for military spending. Thus, they broadly confirm the results of earlier studies for the EU15 that used the previous version of the SIPRI dataset.

Keywords: Defense spending; panel vector autoregression; economic growth (search for similar items in EconPapers)
JEL-codes: C23 H56 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

Downloads: (external link)
http://www.epsjournal.org.uk/index.php/EPSJ/article/view/247 (application/pdf)
Open access 24 months after original publication.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:epc:journl:v:11:y:2016:i:2:p:28-37

Access Statistics for this article

Economics of Peace and Security Journal is currently edited by Michael Brown and J Paul Dunne

More articles in Economics of Peace and Security Journal from EPS Publishing Contact information at EDIRC.
Bibliographic data for series maintained by Michael Brown, Managing Editor, EPSJ ().