Abstract
This paper analyses the strategic causes and the economic spin-off effects of military expenditure in less developed countries. A formal optimising model is used to show that defence burden in LDCs may be analysed principally in terms of strategic factors such as security and threat, and is determined relatively autonomous of economic factors. Given this autonomousness, we scrutinise the widely held belief that defence expenditure has a substantial spin-off in the form of technological progress, R&D, skill creation, effective demand — all of which has positive developmental effects. Econometric evidence for India shows that such claims are exaggerated and economic spin-off from defence to development is weak.
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