Interdependence between US and European military spending: a panel cointegration analysis (1988-2013)

Raul Caruso () and Marco Di Domizio

Applied Economics Letters, 2016, vol. 23, issue 4, 302-305

Abstract: The aim of this article is to study the interdependence of military spending between US and a panel of European countries in the period 1988-2013. The empirical estimation is based on a: (1) unit root tests and a cointegration analysis and (2) fully modified ordinary least squares and dynamic ordinary least squares estimations. General results highlight that military spending of European countries is: (1) positively associated with US military spending and (2) negatively associated with average military spending of other European countries.

Date: 2016
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Working Paper: Interdependence between US and European Military Spending: A Panel Cointegration Analysis (1988-2013) (2015)
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DOI: 10.1080/13504851.2015.1071466

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