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
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)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
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)
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 Marin Dinu
More articles in Theoretical and Applied Economics from Asociatia Generala a Economistilor din Romania - AGER Contact information at EDIRC.
Bibliographic data for series maintained by Marin Dinu ().