Abstract
Defense economics is now an established part of economics. This article reviews its achievements as represented by papers published in the research journal Defense and Peace Economics. The range of topics in the journal is reviewed, especially since 2000, and major gaps in coverage are identified. A changing research agenda reflects new developments such as terrorism and international peacekeeping. Gaps remain such as the need for good quality case studies of conflict (e.g., Iraq) and of major weapons projects (e.g., F-22 Raptor). Some challenges are outlined, namely, the choices resulting from the defense economics problem, the U.K.'s nuclear weapons policy, project case studies (e.g., Eurofighter Typhoon), military outsourcing, and data problems.
Highlights
To serve the needs of the defense economics research community, a dedicated specialist research journal was launched in 1990
The journal provides an indicator of the development of defense economics and its establishment as a reputable subdiscipline of economics
Supported by an international Editorial Board, joint leadership was provided by a U.K.-based Managing Editor and a North American Editor, the latter reflecting the presence of a substantial number of U.S.based defense economists
Summary
To serve the needs of the defense economics research community, a dedicated specialist research journal was launched in 1990. In 1995, the journal was renamed Defense and Peace Economics to reflect the post-Cold War security changes and the increasing focus on disarmament, conversion, and peace issues. Areas with relatively little coverage included articles on arms races, the arms trade, disarmament and arms control, the military production function, the nature of defense economics, and defense budgets.
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