Assessing the Effects of Military Expenditure on Growth

Giorgio d'Agostino, Luca Pieroni and John Dunne

No 1012, Working Papers from Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol

Abstract: Military spending is an expenditure by governments that has influence beyond the resources it takes up, especially when it leads to or facilitates conflicts. This chapter provides an overview of the issues involved in analysing the effects of military spending on growth. It considers the alternative general economic theories that inform the development of models to undertake empirical analyses, and estimation issues in undertaking those analyses. The Feder-Ram model, the modified Solow and the endogenous growth models, are discussed in detail, before being estimated to illustrate the issues involved in estimating the models and to compare their performance.

Keywords: Military spending; growth; panels spending,semi-parametric estimation (search for similar items in EconPapers)
JEL-codes: H56 O40 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2010-10
New Economics Papers: this item is included in nep-fdg
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

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Persistent link: https://EconPapers.repec.org/RePEc:uwe:wpaper:1012

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