An Empirical Investigation of External Debt - Military Expenditure Nexus in Bangladesh

Khalid Zaman (), Qazi Shujaat Mahmood, Muhammad Mushtaq Khan, Awais Rashid and Mehboob Ahmad
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Khalid Zaman: Department of Management Sciences, COMSATS Institute of Information Technology, Abbottabad, Pakistan
Qazi Shujaat Mahmood: Department of Management Sciences, COMSATS Institute of Information Technology, Abbottabad, Pakistan.
Muhammad Mushtaq Khan: Department of Management Sciences, COMSATS Institute of Information Technology, Abbottabad, Pakistan.
Awais Rashid: Department of Management Sciences, COMSATS Institute of Information Technology, Abbottabad, Pakistan.
Mehboob Ahmad: Department of Management Sciences, Bahria University, Islamabad, Pakistan

Economia. Seria Management, 2012, vol. 15, issue 1, 173-188

Abstract: The objective of this paper is to empirically investigate a two-way statistical relationship between the real external debt and real military expenditure in the context of Bangladesh. A time series co-integration and Granger causality tests have been employed from 1980 - 2009 for analysis. The empirical results support the bi-directional causality between the external debt and economic growth, while unidirectional causality runs from military spending to external debt.

Keywords: Bangladesh; Cointegration; Granger causality; Real Arms import; Real External debt; Real Military expenditure. (search for similar items in EconPapers)
JEL-codes: C1 C2 H00 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:rom:econmn:v:15:y:2012:i:1:p:173-188

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