Military Expenditure and Economic Development: An Endogenous Growth Perspective

Jean-Claude Berthélemy, Rémy Herrera and Somnath Sen

Economic Change and Restructuring, 1995, vol. 28, issue 2-3, 205-33

Abstract: This paper attempts to analyse the interrelationships between government and military expenditure and economic growth in particular, and between security and development in general, in a new framework. It has three novel features. First, the impact of military spending (as well as any other government spending which has similar externalities) is studied in an endogenous growth framework unlike most of the previous research in the field Second, growth, welfare and security effects are studied simultaneously. Third, simulation studies are made for specific countries to capture long-term steady state effects which are difficult to analyze in longitudinal case studies. Copyright 1995 by Kluwer Academic Publishers

Date: 1995
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