How Resilient Are Military Expenditures?

Paula De Masi and Henri Lorie
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Paula De Masi: International Monetary Fund
Henri Lorie: International Monetary Fund

IMF Staff Papers, 1989, vol. 36, issue 1, 130-165

Abstract: Changes in military expenditure as a share of gross domestic product (MIL/GDP) and of total expenditure (MIL/EX) during IMF-supported programs are examined for two subsamples, broadly divided according to fiscal tightening and fiscal accommodation. Under fiscal tightening, the evidence suggests that MIL/GDP decreases during Fund-supported programs, but that MIL/EX increases, revealing resilience to budgetary adjustments. Under fiscal accommodation, as total government expenditure tends to increase, so does military expenditure; the ratio MIL/EX declines, however, because fewer additional resources are allocated to the military.

Date: 1989
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