Article ; Online: Can We Have More Butter and Guns Simultaneously? An Endogeneity Perspective
Gospodarka Narodowa. The Polish Journal of Economics, Vol 314, Iss 2, Pp 28-
2023 Volume 46
Abstract: Drivers and outcomes of military expenditures are an important topic in geopolitics and public debate. It is often argued that increases in the military budget can boost the economy through extended military equipment production. What should then be ... ...
Abstract | Drivers and outcomes of military expenditures are an important topic in geopolitics and public debate. It is often argued that increases in the military budget can boost the economy through extended military equipment production. What should then be noticeable is a feedback relationship between military expenditures and the current state of the economy. This paper investigates this reverse relationship at the macro level using an unbalanced panel dataset of 173 countries over the period 1949–2020. Our empirical analysis implies that the claimed positive feedback loop between military expenditures and economic growth is either completely absent or, at most, very weak. |
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Keywords | economic development ; military expenditures ; arms race ; endogeneity ; Economics as a science ; HB71-74 |
Language | English |
Publishing date | 2023-06-01T00:00:00Z |
Publisher | Collegium of Economic Analysis, SGH Warsaw School of Economics |
Document type | Article ; Online |
Database | BASE - Bielefeld Academic Search Engine (life sciences selection) |
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