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Converging Allies?

Paschalis Arvanitidis, Christos Kollias and Messis Petros
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Messis Petros: Department of Finance and Accounting, University of Macedonia, Thessaloniki, Greece

Peace Economics, Peace Science, and Public Policy, 2017, vol. 23, issue 2, 15

Abstract: In the relevant literature, policy convergence is broadly defined as the gradual process through which countries acquire similar traits in terms of one or more policy characteristics such as objectives, inputs, instruments, outputs. Within the broader policy convergence discourse, this paper empirically investigates the presence of a defence policy convergence in the NATO alliance. Defence spending expressed as a share of GDP represents the resources countries allocate to the production of military capabilities and is adopted as the variable through which the question at hand is examined. In broad terms, results reported herein from β and σ-convergence methodologies as well as from Markov chains, suggest the presence of a defence policy convergence process.

Keywords: NATO; convergence; military alliances; defence spending (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1515/peps-2016-0044

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