Interdependence between US and European Military Spending: A Panel Cointegration Analysis (1988-2013)

Raul Caruso () and Marco Di Domizio

MPRA Paper from University Library of Munich, Germany

Abstract: The aim of this paper 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: (i) a unit root tests and a cointegration analysis; (ii) FMOLS and DOLS 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.

Keywords: Military Spending; interdependence; Panel Cointegration; Fully Modified OLS; Dynamic OLS. (search for similar items in EconPapers)
JEL-codes: F52 H56 H63 (search for similar items in EconPapers)
Date: 2015-05-15
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Citations: View citations in EconPapers (3)

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Journal Article: Interdependence between US and European military spending: a panel cointegration analysis (1988-2013) (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:64550

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