Militarization, globalization and liberal democracy: a nexus?

Christos Kollias and Panayiotis Tzeremes

Review of Economics and Political Science, 2023, vol. 9, issue 1, 58-76

Abstract: Purpose - Using composite indices, the paper examines the nexus between militarization, globalization and liberal democracy. The democratic peace theory, the conflict inhibiting effects of international trade – a key and dominant facet of globalization – and the democracy promoting globalization hypothesis form the theoretical underpinnings of the empirical investigation. Design/methodology/approach - To probe into the issue at hand, the paper adopts a dynamic panel VAR estimation procedure. Given the usual data constraints, the sample consists of 113 countries, and the estimations span the period 1995–2019. Findings - The findings from the dynamic panel VAR estimations suggest the presence of a negative and statistically significant nexus between the level of globalization and the level of militarization. No statistically traceable nexus between globalization and liberal democracy was found. Research limitations/implications - The findings offer empirical support to the hypothesis that the strong links of interdependence shaped by globalization reduce the need for military preparedness. The results lead to a tentative inference in favor of the doux commerce thesis. Nonetheless, given that the estimations span a historically specific period – the entire post-bipolar era – the inferences that stem from the findings should be treated with caution. Originality/value - To the best of the authors’ knowledge, the composite indices Bonn International Centre for Conflict Studies (BICC) militarization index, the globalization index of the Swiss Economic Institute (Konjunkturforschungsstelle) (KOF), LibDem, polyarchy have not hitherto been jointly used in previous studies to examine the nexus between militarization, globalization and liberal democracy.

Keywords: Militarization; Globalization; Liberal democracy; Panel VAR (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:repspp:reps-03-2023-0026

DOI: 10.1108/REPS-03-2023-0026

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