Nexus between defense expenditure and economic growth in BRIC economies: An empirical investigation

Devi Prasad Dash, Debi Prasad Bal and Manoranjan Sahoo ()
Additional contact information
Devi Prasad Dash: Indian Institute of Technology, Ropar, Punjab, India
Debi Prasad Bal: Xavier Institute of Management, Bhubaneswar, Odisha, India

Theoretical and Applied Economics, 2016, vol. XXIII, issue 1(606), Spring, 89-102

Abstract: This paper considers the defense expenditure and economic growth nexus based on the cross-border problems and increasing geo-political presence for BRIC blocs over the period 1993-2014. Our approach is more methodological in terms of employing Panel cointegration and causality to highlight the fundamental relation between the defense expenditure and economic growth. Here we emphasize various economic considerations in terms of pre and post war, strategic and spatial phenomenon to capture the magnitude of gains from the increased defense spending in the region. We are using panel unit-root; panel cointegration and panel-Granger causality to highlight the fundamental relationship between the variables. We conclude by discussing the issues as well as quantifying the consequences of present geostrategic conditions associated with these economies.

Keywords: Defense Expenditure; BRIC; Panel cointegration. (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://store.ectap.ro/articole/1162.pdf (application/pdf)
http://www.ectap.ro/articol.php?id=1162&rid=122 (text/html)

Related works:
Working Paper: Nexus between defense expenditure and economic growth in BRIC economies: An empirical investigation (2016)
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:agr:journl:v:xxiii:y:2016:i:1(606):p:89-102

Access Statistics for this article

Theoretical and Applied Economics is currently edited by Mircea Dinu

More articles in Theoretical and Applied Economics from Asociatia Generala a Economistilor din Romania / Editura Economica Contact information at EDIRC.
Bibliographic data for series maintained by Mircea Dinu ().