A Brutal Examination: The Efficiency of Defense Policies on Military Expenditure, in the Context of Ukraine War

Bran Alexandra-Carmen ()
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Bran Alexandra-Carmen: Bucharest University of Economic Studies, Bucharest, Romania

Proceedings of the International Conference on Business Excellence, 2023, vol. 17, issue 1, 169-177

Abstract: This research endeavors to demonstrate how military spending contributes to increased peace, protection, security, and the safety of a nation’s population. War, however, reveals dishonesty in peacetime with terrible clarity. The Russian invasion of Ukraine in 2022, accompanied by a rise in defense budgets, could offer impetus for reorganizing collaborative defense programs. The risks to Europe must be identified and articulated in order to justify increased defense spending. In retrospect, the conventional danger posed by Russia appears less formidable than previously believed, but the job of restoring depleted capabilities is tremendous. Thus, the European defense policy affords chances to spend more and more effectively - these must be properly reevaluated. The policy has garnered tremendous public interest but has yielded minimal results. It has been robust in terms of rhetoric, but weak in terms of actual military and resource commitments. This essay provides a critical economic analysis of European defense policy. It identifies the policy issue, the economics of the issue, future opportunities, and obstacles to obtaining more and improved spending. The objective is to demonstrate how economic analysis may be applied to the intricacies of European defense policy. Economic efficiency criteria indicate the role of end outputs, substitution, and competition to the design of European defense policy, although military-political considerations are more likely to affect the ultimate outcomes than economic efficiency criteria.

Keywords: military expenditure; defense policy; European security; economic (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:poicbe:v:17:y:2023:i:1:p:169-177:n:14

DOI: 10.2478/picbe-2023-0019

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