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Defense spending and investment in the United States

H. Sonmez Atesoglu

Journal of Post Keynesian Economics, 2004, vol. 27, issue 1, 163-170

Abstract: Effects of defense spending on investment in the United States are examined. Findings reveal that there is a positive cointegration relation between defense spending and investment. Findings do not indicate a tradeoff between defense spending and investment. Nondefense government spending has a greater positive effect on investment compared to defense spending. The results suggest that the anticipated rise in defense spending during the first decade of the twenty-first century should promote investment and thereby enhance capital accumulation and economic growth.

Date: 2004
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DOI: 10.1080/01603477.2004.11051425

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