Time-series Estimates of the Macroeconomic Impact of Defence Spending in France and the UK

Stephen Martin, Ronald Smith and Jacques Fontanel ()
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Jacques Fontanel: CESICE - Centre d'études sur la sécurité internationale et les coopérations européennes - UPMF - Université Pierre Mendès France - Grenoble 2 - IEPG - Sciences Po Grenoble - Institut d'études politiques de Grenoble

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Abstract: Measures of the effect of military expenditure on the economy had tended to rely input-output or international cross-section models than rather time-series estimates. We estimate the effect of military expenditure on investment, employment and growth on France and UK. The main results suggest that military expenditure tends to reduce investment and increase unemployment. It has a positive immediate effect on growth, but when the system feedbacks are taken into account the net effect is negative.

Keywords: Unemployment; Investment; Economic growth; Defense spending; Chômage; Investissement; Croissance; Dépenses militaires (search for similar items in EconPapers)
Date: 1987
Note: View the original document on HAL open archive server: https://hal.univ-grenoble-alpes.fr/hal-02937438v1
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Published in Christian Schmidt; Frank Blackaby. Peace, defence and economic analysis : proceedings of a conference held in Stockholm jointly by the International economic association and the Stockholm international peace research Institute, Palgrave Macmillan, pp.342-362, 1987, International Economic Association Series, 0-333-42275-9. ⟨10.1007/978-1-349-18898-7_16⟩

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Chapter: Time-series Estimates of the Macroeconomic Impact of Defence Spending in France and the UK (1987)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02937438

DOI: 10.1007/978-1-349-18898-7_16

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