The earlier literature regarding the effects of military expenditures on economic growth had initially shown a positive relationship between the two variables. This article examines this topic, taking account of more recent models of growth. The second section considers the alternative general economic theories that inform the development of models to undertake empirical analyses. The third section considers estimation issues. The fourth section considers the alternative formal models that are common in the literature: the Feder-Ram model, the modified Solow model, and the endogenous growth models. The fifth section presents some empirical results to illustrate the issues involved in estimating the models and to compare their performance. The estimation of more sophisticated models indicates, contrary to the early studies, that the effect of military expenditures on growth is negative.

D'Agostino, G., Dunne, J.P., Pieroni, L. (2012). Assessing the Effects of Military Expenditures on Growth. In The Oxford Handbook of the Economics of Peace and Conflict. Oxford University Press [10.1093/oxfordhb/9780195392777.013.0017].

Assessing the Effects of Military Expenditures on Growth

D'AGOSTINO, GIORGIO
Membro del Collaboration Group
;
Pieroni, Luca
Membro del Collaboration Group
2012-01-01

Abstract

The earlier literature regarding the effects of military expenditures on economic growth had initially shown a positive relationship between the two variables. This article examines this topic, taking account of more recent models of growth. The second section considers the alternative general economic theories that inform the development of models to undertake empirical analyses. The third section considers estimation issues. The fourth section considers the alternative formal models that are common in the literature: the Feder-Ram model, the modified Solow model, and the endogenous growth models. The fifth section presents some empirical results to illustrate the issues involved in estimating the models and to compare their performance. The estimation of more sophisticated models indicates, contrary to the early studies, that the effect of military expenditures on growth is negative.
2012
9780199940806
D'Agostino, G., Dunne, J.P., Pieroni, L. (2012). Assessing the Effects of Military Expenditures on Growth. In The Oxford Handbook of the Economics of Peace and Conflict. Oxford University Press [10.1093/oxfordhb/9780195392777.013.0017].
File in questo prodotto:
Non ci sono file associati a questo prodotto.

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11590/319181
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 8
  • ???jsp.display-item.citation.isi??? ND
social impact