Should education and military expenditures be combined for government economic policy?

Raul Caruso () and Anna Balestra

Economics of Peace and Security Journal, 2022, vol. 17, issue 1, 37-54

Abstract: This article examines the impact of EDUMILEX, namely the ratio between investment in education and military expenditure, on economic performance. It uses panel data estimation methods for 60 countries over the period 2000–2018. The findings suggest the existence of a non-linear, cubic relationship between EDUMILEX and economic performance. In particular, EDUMILEX is positively associated with both GDP per capita and labor productivity. The results also show that the effect of EDUMILEX is heterogeneous across countries, with lower values of EDUMILEX required to increase economic performance in developed countries than developing ones.

Keywords: Peace; Education; Military Expenditures; Economic Growth; Development (search for similar items in EconPapers)
JEL-codes: H52 H56 O47 (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.epsjournal.org.uk/index.php/EPSJ/article/view/368 (application/pdf)
Open access 24 months after original publication.

Related works:
Working Paper: Should Education and Military Expenditures be Combined for Government Economic Policy? (2022)
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:epc:journl:v:17:y:2022:i:1:p:37-54

DOI: 10.15355/epsj.17.1.37

Access Statistics for this article

Economics of Peace and Security Journal is currently edited by Michael Brown and J Paul Dunne

More articles in Economics of Peace and Security Journal from EPS Publishing Contact information at EDIRC.
Bibliographic data for series maintained by Michael Brown, Managing Editor, EPSJ ().