Military Expenditures and Economic Growth in Less Developed Countries: An Augmented Model and Further Evidence

Abstract

Previous articleNext article No AccessMilitary Expenditures and Economic Growth in Less Developed Countries: An Augmented Model and Further EvidenceBasudeb Biswas and Rati RamBasudeb Biswas Search for more articles by this author and Rati Ram Search for more articles by this author PDFPDF PLUS Add to favoritesDownload CitationTrack CitationsPermissionsReprints Share onFacebookTwitterLinkedInRedditEmail SectionsMoreDetailsFiguresReferencesCited by Economic Development and Cultural Change Volume 34, Number 2Jan., 1986 Article DOIhttps://doi.org/10.1086/451533 Views: 92Total views on this site Citations: 179Citations are reported from Crossref Copyright 1986 The University of ChicagoPDF download Crossref reports the following articles citing this article:Faqeer Muhammad, Anwar Khan, Jamal Hussain, Tasawar Baig, Saadia Baig Influence of Military Expenditures, Industrial Growth, and Financial Development on Economic Growth, and Environment in Heterogeneous Political Regimes in Pakistan, Journal of the Knowledge Economy 90 (Mar 2023).https://doi.org/10.1007/s13132-023-01261-5Yingying Xu, Zhixin Liu, Chiwei Su, Stefea Petru Military industry bubbles: are they crowding out utility investments?, Economic Research-Ekonomska Istraživanja 35, no.11 (Jun 2021): 692–708.https://doi.org/10.1080/1331677X.2021.1931913Veysel Inal, Temel Gurdal, Tunahan Degirmenci, Mucahit Aydin The effects of military expenditures on labor productivity, innovation and economic growth for the most militarized countries: panel data analysis, Kybernetes 60 (Dec 2022).https://doi.org/10.1108/K-06-2022-0852Xinyi Wang, Na Hou, Bo Chen Democracy, military expenditure and economic growth: A heterogeneous perspective, Defence and Peace Economics 848 (Sep 2022): 1–32.https://doi.org/10.1080/10242694.2022.2126955Ricardo Ferraz THE FINANCIAL COSTS OF THE PORTUGUESE COLONIAL WAR, 1961-1974: ANALYSIS AND APPLIED STUDY, Revista de Historia Económica / Journal of Iberian and Latin American Economic History 40, no.22 (Oct 2021): 243–272.https://doi.org/10.1017/S0212610921000148Kiryl Rudy Military Economy and Economic Growth: Bidirectional Effects in Transition Economies of Eurasia, Global Journal of Emerging Market Economies 14, no.33 (Jan 2022): 285–300.https://doi.org/10.1177/09749101211067296Chang Beum Kwon The Effect of Defense Spending on Subjective Well-Being: Cross-Country Evidence, Applied Research in Quality of Life 17, no.44 (Nov 2021): 1961–1989.https://doi.org/10.1007/s11482-021-10015-xMesut Alper GEZER The Causality Relationship between Military Expenditure and GDP in 12 NATO Member Countries based on Per Capita Values, Sosyoekonomi (Apr 2022): 157–181.https://doi.org/10.17233/sosyoekonomi.2022.02.09Kubilay Çağrı YILMAZ Terör Saldırıları ve Savunma Harcamalarının Büyümeye Etkisi: Türkiye Analizi, Maliye Finans Yazıları , no.117117 (Apr 2022): 115–134.https://doi.org/10.33203/mfy.1049937Melike Bildirici, Fazıl Kayıkçı The relation between growth, energy imports, militarization and current account balance in China, Israel and South Korea, Energy 242 (Mar 2022): 122537.https://doi.org/10.1016/j.energy.2021.122537Rémy Herrera For a Political Economy of Defense: Imperialist Wars and Their Links to the Crisis of Capital, (Jul 2022): 217–250.https://doi.org/10.1007/978-3-031-05851-6_8Mehmet Topal, Mustafa Unver, Salih Türedi The military expenditures and economic growth nexus: Panel bootstrap granger causality evidence from NATO countries, Panoeconomicus 69, no.44 (Jan 2022): 555–578.https://doi.org/10.2298/PAN170914002T, І. Marko, І. Chernyshova, , О. Ostapenko, Model of connection between defense costs and economic growth, Visnyk Taras Shevchenko National University of Kyiv. Military-Special Sciences 11, no.2(50)2(50) (Jan 2022): 74–78.https://doi.org/10.17721/1728-2217.2022.50.74-78Oysseus Katsaitis, George Zombanakis Assessing the Cost of Friction between NATO Allies, Security and Defence Quarterly 36, no.44 (Dec 2021): 25–48.https://doi.org/10.35467/sdq/143276Ourania Dimitraki, Sandar Win Military Expenditure Economic Growth Nexus in Jordan: An Application of ARDL Bound Test Analysis in the Presence of Breaks, Defence and Peace Economics 32, no.77 (Feb 2020): 864–881.https://doi.org/10.1080/10242694.2020.1730113Oasis Kodila-Tedika, Sherif Khalifa African Junta and Defence Spending: A Capture Effect or Self-preservation?, Journal of African Economies 30, no.33 (Dec 2020): 285–300.https://doi.org/10.1093/jae/ejaa015Turgay CEYHAN, Ahmet KÖSTEKÇİ THE EFFECT OF MILITARY EXPENDITURES ON ECONOMIC GROWTH AND UNEMPLOYMENT: EVIDENCE FROM TURKEY, Fırat Üniversitesi Sosyal Bilimler Dergisi (May 2021).https://doi.org/10.18069/firatsbed.898944Mustafa TORUN, Ercan EROĞLU, Rıza BAYRAK Savunma Harcamalarının Ekonomik Büyümeye Etkisi: NATO Ülkeleri Üzerinde Panel Veri Analizi, Yönetim Bilimleri Dergisi (Mar 2021).https://doi.org/10.35408/comuybd.877219Paula Gómez-Trueba Santamaría, Alfredo Arahuetes García, Tomás Curto González, Isabel Novo-Cortí A tale of five stories: Defence spending and economic growth in NATO´s countries, PLOS ONE 16, no.11 (Jan 2021): e0245260.https://doi.org/10.1371/journal.pone.0245260Madhabendra Sinha, Anjan Ray Chaudhury, Partha Pratim Sengupta Dynamics of Public Expenditure on Defense and Economic Growth Pattern in Developed and Developing Countries, (Jan 2021): 669–681.https://doi.org/10.4018/978-1-7998-9029-4.ch036Aamir Syed The Asymmetric Relationship Between Military Expenditure, Economic Growth and Industrial Productivity: An Empirical Analysis of India, China and Pakistan Via the NARDL Approach, Revista Finanzas y Política Económica 13, no.11 (Mar 2021).https://doi.org/10.14718/revfinanzpolitecon.v13.n1.2021.4José L. Torres, Javier Ordonez The production of national defense and the macroeconomy, PLOS ONE 15, no.1010 (Oct 2020): e0240299.https://doi.org/10.1371/journal.pone.0240299Şerif CANBAY, Derya MERCAN Türkiye’de Silah İthalatının İktisadi Büyüme Üzerine Etkisi, Güvenlik Stratejileri Dergisi (Oct 2020): 707–734.https://doi.org/10.17752/guvenlikstrtj.807026Dilara AYLA D-8 ÜLKELERİNDE ASKERİ HARCAMALAR VE EKONOMİK BÜYÜME ÜZERİNE PANEL VERİ ANALİZİ, Bingöl Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi (Aug 2020).https://doi.org/10.33399/biibfad.748492Osman KANCA, Rahmi YAMAK Türkiye Ekonomisi Açısından Benoit Hipotezinin Testi, Gaziantep University Journal of Social Sciences (Jul 2020).https://doi.org/10.21547/jss.722344Chiwei Su, Yingying Xu, Hsu Ling Chang, Oana-Ramona Lobont, Zhixin Liu Dynamic Causalities between Defense Expenditure and Economic Growth in China: Evidence from Rolling Granger Causality Test, Defence and Peace Economics 31, no.55 (Aug 2018): 565–582.https://doi.org/10.1080/10242694.2018.1505583Yücel ATİLLA, Recep KÖK Askeri Harcamaların İktisadi Büyümeye Etkisi: Sistem GMM Yaklaşımı, İzmir İktisat Dergisi 35, no.22 (Jun 2020): 299–316.https://doi.org/10.24988/ije.202035207Asen Ayange, Udo Emmanuel Samuel, Abner Ishaku Prince, Victor Ndubuaku SECURITY EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA, Humanities & Social Sciences Reviews 8, no.33 (May 2020): 553–561.https://doi.org/10.18510/hssr.2020.8360Kyriakos Emmanouilidis, Christos Karpetis The Defense–Growth Nexus: A Review of Time Series Methods and Empirical Results, Defence and Peace Economics 31, no.11 (Jan 2018): 86–104.https://doi.org/10.1080/10242694.2018.1428261Feng-Li Lin, Mei-Chih Wang Does economic growth cause military expenditure to go up? Using MF-VAR model, Quality & Quantity 53, no.66 (Aug 2019): 3097–3117.https://doi.org/10.1007/s11135-019-00921-6Odysseus Katsaitis, Konstantine Kondylis, George A. Zombanakis Concerns on the issue of defence expenditure in the post-crisis Greece, Security and Defence Quarterly 24, no.22 (Jan 2019): 177–201.https://doi.org/10.35467/sdq/103408Cristian Ortiz, Rafael Alvarado, Aldo Salinas The effect of military spending on output: New evidence at the global and country group levels using panel data cointegration techniques, Economic Analysis and Policy 62 (Jun 2019): 402–414.https://doi.org/10.1016/j.eap.2018.10.004Göksel KORKMAZ, Mustafa Kemal TOPÇU , Güvenlik Bilimleri Dergisi ( 2019): 309.https://doi.org/10.28956/gbd.646351Kanchan Datta Military Expenditure and Economic Growth Relationship Revisited in Some South Asian Countries, (Jan 2019): 810–835.https://doi.org/10.4018/978-1-5225-7912-0.ch041Taimur Rahman, Danish Ahmed Siddiqui The Effect of Military Spending on Economic Growth in the Presence of Arms Trade: A Global Analysis, SSRN Electronic Journal 25 (Jan 2019).https://doi.org/10.2139/ssrn.3401331Manas Chatterji A Survey of Literature on Military Expenditure and Development, (Dec 2018): 75–94.https://doi.org/10.1108/S1572-832320180000027013 Appendix 1, (Dec 2018): 159–165.https://doi.org/10.1108/S1572-832320180000027035Posma Sariguna Johnson Kennedy, Suzanna Josephine L. Tobing, Rutman Lumbantoruan, Emma Tampubolon, Adolf Bastian Heatubun Mathematical Model: The Long-Term Effects of Defense Expenditure on Economic Growth and the Criticism, Journal of Physics: Conference Series 1114 (Dec 2018): 012118.https://doi.org/10.1088/1742-6596/1114/1/012118Гаяне Арутюнян, Gayane Harutyunyan THE THEORETICAL APPROACHES TO ASSESSING EFFECTS OF MILITARY EXPENDITURE ON GROWTH, Russian Journal of Management 6, no.33 (Oct 2018): 1–5.https://doi.org/10.29039/article_5c76b0e5c1db78.32516834Ramesh Chandra Das, Soumyananda Dinda, Frank Martin Defence Outlays Across Countries: Are They Converging?, South Asian Journal of Macroeconomics and Public Finance 7, no.11 (Apr 2018): 109–129.https://doi.org/10.1177/2277978718760072Madhabendra Sinha, Anjan Ray Chaudhury, Partha Pratim Sengupta Dynamics of Public Expenditure on Defense and Economic Growth Pattern in Developed and Developing Countries, (Jan 2018): 131–143.https://doi.org/10.4018/978-1-5225-4778-5.ch007Kanchan Datta Military Expenditure and Economic Growth Relationship Revisited in Some South Asian Countries, (Jan 2018): 144–169.https://doi.org/10.4018/978-1-5225-4778-5.ch008Partha Mukhopadhyay, Madhabendra Sinha, Partha Pratim Sengupta Public Expenditure on Defense and Economic Development, (Jan 2018): 170–181.https://doi.org/10.4018/978-1-5225-4778-5.ch009Debabrata Mukhopadhyay, Dipankar Das FDI Inflows and Military Expenditure, (Jan 2018): 211–225.https://doi.org/10.4018/978-1-5225-4778-5.ch012Rajib Bhattacharyya Relationship Between Military Expenditure, Economic Growth, and Social Expenditure in India, China, and Bangladesh, (Jan 2018): 285–306.https://doi.org/10.4018/978-1-5225-4778-5.ch016Richardson Kojo Edeme Defense-Education Expenditure Nexus in Economic Growth of Nigeria, (Jan 2018): 307–329.https://doi.org/10.4018/978-1-5225-4778-5.ch017Sovik Mukherjee, Asim Kumar Karmakar Military Spending, Terrorism, and Economic Growth Vinculum in India, (Jan 2018): 382–402.https://doi.org/10.4018/978-1-5225-4778-5.ch020Ezebuilo R. Ukwueze, Chinasa E. Urama, Henry T. Asogwa, Oliver E. Ogbonna Political Economy of Growth Effects of Defense Expenditure in Nigeria, (Jan 2018): 403–426.https://doi.org/10.4018/978-1-5225-4778-5.ch021Maniklal Adhikary, Anindya Bhattacharya Trade-Off Between Defense and Development, (Jan 2018): 448–471.https://doi.org/10.4018/978-1-5225-4778-5.ch023E. Desli, A. Gkoulgkoutsika, C. Katrakilidis Investigating the Dynamic Interaction between Military Spending and Economic Growth, Review of Development Economics 21, no.33 (Jun 2016): 511–526.https://doi.org/10.1111/rode.12268?nal T?ng?r, Adem Yavuz Elveren The nexus of economic growth, military expenditures, and income inequality, Quality & Quantity 51, no.44 (Jun 2016): 1821–1842.https://doi.org/10.1007/s11135-016-0368-4Nimantha Manamperi Does military expenditure hinder economic growth? Evidence from Greece and Turkey, Journal of Policy Modeling 38, no.66 (Nov 2016): 1171–1193.https://doi.org/10.1016/j.jpolmod.2016.04.003Bruce D. McDonald, Vincent Reitano Sanction Failure, Armed Forces & Society 42, no.44 (Jul 2016): 635–654.https://doi.org/10.1177/0095327X16631095Abdul Jalil, Hafiz Khuram Nadeem Abbasi, Nazia Bibi Military expenditures and economic growth: allowing structural breaks in time series analysis in the case of India and Pakistan, Quality & Quantity 50, no.44 (May 2015): 1487–1505.https://doi.org/10.1007/s11135-015-0217-xArno Tausch Smart Developmentt. An Essay on a New Political Economy of the Environment, SSRN Electronic Journal (Jan 2016).https://doi.org/10.2139/ssrn.2752988Chia-I Pan, Tsangyao Chang, Yemane Wolde-Rufael Military Spending and Economic Growth in the Middle East Countries: Bootstrap Panel Causality Test, Defence and Peace Economics 26, no.44 (Mar 2014): 443–456.https://doi.org/10.1080/10242694.2014.891356Tsangyao Chang, Chien-Chiang Lee, Hsiao-Ping Chu Revisiting the Defense–Growth nexus in European countries, Defence and Peace Economics 26, no.33 (Sep 2013): 341–356.https://doi.org/10.1080/10242694.2013.832556Rémy Herrera Defense and Security Economics, (Jan 2015): 1–6.https://doi.org/10.1016/B978-0-08-097086-8.75058-6Nihal Bayraktar, Blanca Moreno-Dodson HOW CAN PUBLIC SPENDING HELP YOU GROW? AN EMPIRICAL ANALYSIS FOR DEVELOPING COUNTRIES, Bulletin of Economic Research 67, no.11 (Oct 2012): 30–64.https://doi.org/10.1111/j.1467-8586.2012.00473.xAlexander Knobel, Bekhan Chokaev, Alexey Mironov (Comparative Analysis of the Effectiveness of Public Spending in the Field of National Defense and Law Enforcement), SSRN Electronic Journal (Jan 2015).https://doi.org/10.2139/ssrn.2624542Metehan Yilgör, Erdal Tanas Karagöl, Çiğdem Ateş Saygili Panel Causality Analysis Between Defence Expenditure and Economic Growth in Developed Countries, Defence and Peace Economics 25, no.22 (Oct 2012): 193–203.https://doi.org/10.1080/10242694.2012.724879Tsangyao Chang, Chien-Chiang Lee, Ken Hung, Kuo-Hao Lee Does Military Spending Really Matter for Economic Growth in China and G7 Countries: The Roles of Dependency and Heterogeneity, Defence and Peace Economics 25, no.22 (Jan 2013): 177–191.https://doi.org/10.1080/10242694.2013.763460K. Renuka Ganegodage, Alicia N. Rambaldi Economic consequences of war: Evidence from Sri Lanka, Journal of Asian Economics 30 (Feb 2014): 42–53.https://doi.org/10.1016/j.asieco.2013.12.001Hou Na, Chen Bo Military expenditure and economic growth in south asia, (Sep 2014): 213–223.https://doi.org/10.1108/S1572-8323(2013)00020.2016Hamid E. Ali Estimate of The Economic Cost of Armed Conflict: A Case Study From Darfur, Defence and Peace Economics 24, no.66 (Dec 2013): 503–519.https://doi.org/10.1080/10242694.2012.723154Rémy Herrera Pour une économie politique de la Défense, Innovations n° 42, no.33 (Aug 2013): 5–15.https://doi.org/10.3917/inno.042.0005Rémy Herrera Crise et guerre sont-elles liées ?, Innovations n° 42, no.33 (Aug 2013): 175–194.https://doi.org/10.3917/inno.042.0175Aviral Kumar Tiwari, Muhammad Shahbaz DOES DEFENCE SPENDING STIMULATE ECONOMIC GROWTH IN INDIA? A REVISIT, Defence and Peace Economics 24, no.44 (Aug 2013): 371–395.https://doi.org/10.1080/10242694.2012.710814Julien Malizard OPPORTUNITY COST OF DEFENSE: AN EVALUATION IN THE CASE OF FRANCE, Defence and Peace Economics 24, no.33 (Jun 2013): 247–259.https://doi.org/10.1080/10242694.2012.692056Na Hou, Bo Chen MILITARY EXPENDITURE AND ECONOMIC GROWTH IN DEVELOPING COUNTRIES: EVIDENCE FROM SYSTEM GMM ESTIMATES, Defence and Peace Economics 24, no.33 (Jun 2013): 183–193.https://doi.org/10.1080/10242694.2012.710813Rémy Herrera, Eleonora Gentilucci Military spending, technical progress, and economic growth: a critical overview on mainstream defense economics, Journal of Innovation Economics & Management n°12, no.22 (Jun 2013): 13–35.https://doi.org/10.3917/jie.012.0013Mark Broude, Saadet Deger, Somnath Sen Defence, innovation and development: the case of Israel, Journal of Innovation Economics & Management n°12, no.22 (Jun 2013): 37–57.https://doi.org/10.3917/jie.012.0037Arno Tausch, Almas Heshmati Worker remittances and the global preconditions of ‘smart development’, Society and Economy 35, no.11 (Jan 2013): 25–50.https://doi.org/10.1556/SocEc.2012.0008YU WANG Determinants of southeast asian military spending in the post-cold war era: a dynamic panel analysis, Defence and Peace Economics 24, no.11 (Feb 2013): 73–87.https://doi.org/10.1080/10242694.2012.656944Bruce D. McDonald, III Sanction Failure: Economic Growth, Defense Expenditures, and the Islamic Republic of Iran, SSRN Electronic Journal (Jan 2013).https://doi.org/10.2139/ssrn.2285895Aynur Alptekin, Paul Levine Military expenditure and economic growth: A meta-analysis, European Journal of Political Economy 28, no.44 (Dec 2012): 636–650.https://doi.org/10.1016/j.ejpoleco.2012.07.002John Paul Dunne, Eftychia Nikolaidou DEFENCE SPENDING AND ECONOMIC GROWTH IN THE EU15, Defence and Peace Economics 23, no.66 (Dec 2012): 537–548.https://doi.org/10.1080/10242694.2012.663575Sibel Bali Eryigit, Kadir Yasin Eryigit, Ufuk Selen THE LONG-RUN LINKAGES BETWEEN EDUCATION, HEALTH AND DEFENCE EXPENDITURES AND ECONOMIC GROWTH: EVIDENCE FROM TURKEY, Defence and Peace Economics 23, no.66 (Dec 2012): 559–574.https://doi.org/10.1080/10242694.2012.663577Alper Aslan The Relationship Between Military Spending and Black Market Premium in Greece: An ARDL Approach, Transition Studies Review 19, no.22 (Oct 2012): 155–161.https://doi.org/10.1007/s11300-012-0237-3Albert Wijeweera, Matthew J. Webb Using the Feder-Ram and Military Keynesian Models to Examine the Link Between Defence Spending and Economic Growth in Sri Lanka, Defence and Peace Economics 23, no.33 (Jun 2012): 303–311.https://doi.org/10.1080/10242694.2011.593352ANGUS C. CHU, CHING-CHONG LAI On the Growth and Welfare Effects of Defense R&D, Journal of Public Economic Theory 14, no.33 (May 2012): 473–492.https://doi.org/10.1111/j.1467-9779.2012.01550.xEdward L Kick, Laura A McKinney, Gretchen H Thompson Intensity of food deprivation: The integrative impacts of the world system, modernization, conflict, militarization and the environment, International Journal of Comparative Sociology 52, no.66 (Nov 2011): 478–502.https://doi.org/10.1177/0020715211428181Hsin-Chen Chang, Bwo-Nung Huang, Chin Wei Yang Military expenditure and economic growth across different groups: A dynamic panel Granger-causality approach, Economic Modelling 28, no.66 (Nov 2011): 2416–2423.https://doi.org/10.1016/j.econmod.2011.06.001Albert Wijeweera, Matthew J. Webb Military Spending and Economic Growth in South Asia: A Panel Data Analysis, Defence and Peace Economics 22, no.55 (Oct 2011): 545–554.https://doi.org/10.1080/10242694.2010.533905Mete Feridun, Bansi Sawhney, Muhammad Shahbaz The Impact of Military Spending on Economic Growth: The Case of North Cyprus, Defence and Peace Economics 22, no.55 (Oct 2011): 555–562.https://doi.org/10.1080/10242694.2011.562370Albert J.F. Yang, William N. Trumbull, Chin Wei Yang, Bwo‐Nung Huang ON THE RELATIONSHIP BETWEEN MILITARY EXPENDITURE, THREAT, AND ECONOMIC GROWTH: A NONLINEAR APPROACH, Defence and Peace Economics 22, no.44 (Aug 2011): 449–457.https://doi.org/10.1080/10242694.2010.497723Chen Bo, Xing Xing Military Spending and Economic Growth in China, 1953–2007: A Note on Econometric Analysis by Using Eviews, (Mar 2015): 115–131.https://doi.org/10.1108/S1572-8323(2011)0000016012Uk Heo The Relationship between Defense Spending and Economic Growth in the United States, Political Research Quarterly 63, no.44 (Dec 2010): 760–770.https://doi.org/10.1177/1065912909334427Betul Dicle, Mehmet F. Dicle Military Spending and GDP Growth: Is there a General Causal Relationship?, Journal of Comparative Policy Analysis: Research and Practice 12, no.33 (Jun 2010): 311–345.https://doi.org/10.1080/13876981003714644Albert Wijeweera, Matthew J. Webb MILITARY SPENDING AND ECONOMIC GROWTH IN SRI LANKA: A TIME SERIES ANALYSIS, Defence and Peace Economics 20, no.66 (Dec 2009): 499–508.https://doi.org/10.1080/10242690902868301 References, (Mar 2015): 179–190.https://doi.org/10.1108/S1572-8323(2009)0000013011Fanny Coulomb, Keith Hartley, Michael Intriligator PACIFISM IN ECONOMIC ANALYSIS: A HISTORICAL PERSPECTIVE, Defence and Peace Economics 19, no.55 (Oct 2008): 373–386.https://doi.org/10.1080/10242690802354378Jhy‐Yuan Shieh, Wen‐Ya Chang, Ching‐Chong Lai AN ENDOGENOUS GROWTH MODEL OF CAPITAL AND ARMS ACCUMULATION, Defence and Peace Economics 18, no.66 (Dec 2007): 557–575.https://doi.org/10.1080/10242690701261658NILOY BOSE, M. EMRANUL HAQUE, DENISE R. OSBORN PUBLIC EXPENDITURE AND ECONOMIC GROWTH: A DISAGGREGATED ANALYSIS FOR DEVELOPING COUNTRIES, The Manchester School 75, no.55 (Sep 2007): 533–556.https://doi.org/10.1111/j.1467-9957.2007.01028.xDEBORAH A. CARROLL Guns vs. Taxes? A Look at How Defense Spending Affects U.S. Federal Tax Policy, Public Budgeting & Finance 26, no.44 (Dec 2006): 59–78.https://doi.org/10.1111/j.1540-5850.2006.00862.xJesus Crespo Cuaresma, Gerhard Reitschuler 'GUNS OR BUTTER?' REVISITED: ROBUSTNESS AND NONLINEARITY ISSUES IN THE DEFENSE–GROWTH NEXUS, Scottish Journal of Political Economy 53, no.44 (Sep 2006): 523–541.https://doi.org/10.1111/j.1467-9485.2006.00393.xHuseyin Kalyoncu, Fatih Yucel An analytical approach on defense expenditure and economic growth, Journal of Economic Studies 33, no.55 (Sep 2006): 336–343.https://doi.org/10.1108/01443580610706564Chien‐Chiang Lee, Chun‐Ping Chang THE LONG‐RUN RELATIONSHIP BETWEEN DEFENCE EXPENDITURES AND GDP IN TAIWAN, Defence and Peace Economics 17, no.44 (Aug 2006): 361–385.https://doi.org/10.1080/10242690600612738Uk Heo, Sung Deuk Hahm Politics, Economics, and Defense Spending in South Korea, Armed Forces & Society 32, no.44 (Jul 2016): 604–622.https://doi.org/10.1177/0095327X06287615Mohsen Bahmani-Oskooee, Gour G. Goswami Military spending and the black market premium in developing countries, Review of Social Economy 64, no.11 (Mar 2006): 77–91.https://doi.org/10.1080/00346760500530169Jülide Yildirim, Nadir Öcal ARMS RACE AND ECONOMIC GROWTH: THE CASE OF INDIA AND PAKISTAN, Defence and Peace Economics 17, no.11 (Jan 2007): 37–45.https://doi.org/10.1080/10242690500369231Uk Heo, Robert J. Eger Paying for Security, Journal of Conflict Resolution 49, no.55 (Oct 2005): 792–817.https://doi.org/10.1177/0022002705279365PAK SHUN NG "WHY NOT A VOLUNTEER ARMY?" REEXAMINING THE IMPACT OF MILITARY CONSCRIPTION ON ECONOMIC GROWTH FOR SINGAPORE, The Singapore Economic Review 50, no.0101 (Apr 2005): 47–67.https://doi.org/10.1142/S0217590805001871Gerhard Reitschuler, Josef L. Loening Modeling the Defense-Growth Nexus in Guatemala, World Development 33, no.33 (Mar 2005): 513–526.https://doi.org/10.1016/j.worlddev.2004.08.008JR‐TSUNG HUANG †, AN‐PANG KAO ‡ Does defence spending matter to employment in Taiwan?, Defence and Peace Economics 16, no.22 (Jul 2006): 101–115.https://doi.org/10.1080/10242690500070094Jülide Yildirim†, Selami Sezgin, Nadir Öcal MILITARY EXPENDITURE AND ECONOMIC GROWTH IN MIDDLE EASTERN COUNTRIES: A DYNAMIC PANEL DATA ANALYSIS, Defence and Peace Economics 16, no.44 (Jan 2005): 283–295.https://doi.org/10.1080/10242690500114751J. Paul Dunne, Ron P. Smith, Dirk Willenbockel MODELS OF MILITARY EXPENDITURE AND GROWTH: A CRITICAL REVIEW, Defence and Peace Economics 16, no.66 (Jan 2005): 449–461.https://doi.org/10.1080/10242690500167791CHUNG‐NANG LAI, BWO‐NUNG HUANG †, CHIN‐WEI YANG Defense spending and economic growth across the Taiwan straits: a threshold regression model, Defence and Peace Economics 16, no.11 (Jan 2005): 45–57.https://doi.org/10.1080/1024269052000323542Peter Nijkamp, Jacques Poot Meta-analysis of the effect of fiscal policies on long-run growth, European Journal of Political Economy 20, no.11 (Mar 2004): 91–124.https://doi.org/10.1016/j.ejpoleco.2003.10.001Jesús Crespo Cuaresma, Gerhard Reitschuler A non‐linear defence‐growth nexus? evidence from the US economy, Defence and Peace Economics 15, no.11 (Jan 2007): 71–82.https://doi.org/10.1080/1024269042000164504Suleiman Abu-Bader, Aamer S. Abu-Qarn Government expenditures, military spending and economic growth: causality evidence from Egypt, Israel, and Syria, Journal of Policy Modeling 25, no.6-76-7 (Sep 2003): 567–583.https://doi.org/10.1016/S0161-8938(03)00057-7Jhy-yuan Shieh, Ching-chong Lai, Wen-ya Chang The impact of military burden on long-run growth and welfare, Journal of Development Economics 68, no.22 (Aug 2002): 443–454.https://doi.org/10.1016/S0304-3878(02)00022-6JP Dunne, E Nikolaidou, R Smith MILITARY SPENDING, INVESTMENT AND ECONOMIC GROWTH IN SMALL INDUSTRIALISING ECONOMIES, South African Journal of Economics 70, no.55 (Jul 2005): 789–790.https://doi.org/10.1111/j.1813-6982.2002.tb00045.xAlvin Birdi, J. Paul Dunne South Africa: An Econometric Analysis of Military Spending and Economic Growth, (Jan 2002): 221–233.https://doi.org/10.1057/9780230501256_10Oyinlola Olaniyi Military Spending and Economic Development in Sub-Saharan Africa: A Supply-Side Analysis, (Jan 2002): 275–289.https://doi.org/10.1057/9780230501256_13Emmanuel Athanassiou, Christos Kollias, Efi Nikolaidou, Stavros Zografakis Greece: Military Expenditure, Economic Growth, and the Opportunity Cost of Defense, (Jan 2002): 291–317.https://doi.org/10.1057/9780230501256_14Tsangyao Chang, Wenshwo Fang, Li-Fang Wen, Chwenchi Liu Defence spending, economic growth and temporal causality: evidence from Taiwan and mainland China, 1952-1995, Applied Economics 33, no.1010 (Aug 2001): 1289–1299.https://doi.org/10.1080/00036840122529Peter Nijkamp, Jacques Poot, Gabriella Vindigni Spatial Dynamics and Government Policy: An Artificial Intelligence Approach to Comparing Complex Systems, (Jan 2001): 369–401.https://doi.org/10.1007/978-3-662-04546-6_18Paul Dunne, Eftychia Nikolaidou Military expenditure and economic growth: A demand and supply model for Greece, 1960–96*, Defence and Peace Economics 12, no.11 (Jan 2001): 47–67.https://doi.org/10.1080/10430710108404976Robert E. Looney The Budgetary Consequences of Middle East Peace: What are the Economic Impacts and Causal Linkages?, (Jan 2000): 99–118.https://doi.org/10.1057/9780333994269_7Peter Batchelor, J. Paul Dunne, David S. Saal Military spending and economic growth in South Africa, Defence and Peace Economics 11, no.44 (Jan 2000): 553–571.https://doi.org/10.1080/10430710008404966Paul Dunne, Eftychia Nikolaidou, André Roux Defence spending and economic growth in South Africa: A supply and demand model*, Defence and Peace Economics 11, no.44 (Jan 2000): 573–585.https://doi.org/10.1080/10430710008404967UK HEO The Defense-growth Nexus in the United States Revisited, American Politics Quarterly 28, no.11 (Nov 2016): 110–127.https://doi.org/10.1177/1532673X00028001007Nicholas Antonakis Guns versus Butter, Journal of Conflict Resolution 43, no.44 (Aug 1999): 501–520.https://doi.org/10.1177/0022002799043004005John McCombie A Problem with the Empirical Neoclassical Analysis of Multisector Growth, (Jan 1999): 127–148.https://doi.org/10.1007/978-1-349-27393-5_10Edward L. Kick, Byron L. Davis, David M. Kiefer, Thomas J. Burns A Cross-National Analysis of Militarization and Well-Being Relationships in Developing Countries, Social Science Research 27, no.44 (Dec 1998): 351–370.https://doi.org/10.1006/ssre.1997.0607Uk Heo Modeling the Defense-Growth Relationship around the Globe, Journal of Conflict Resolution 42, no.55 (Jul 2016): 637–657.https://doi.org/10.1177/0022002798042005006 Uk Heo , and Karl DeRouen Jr. Military Expenditures, Technological Change, and Economic Growth in the East Asian NICs, The Journal of Politics 60, no.33 (Oct 2015): 830–846.https://doi.org/10.2307/2647651Uk Heo, Kwang H. Ro Military expenditures and economic growth in South Korea and Taiwan, International Interactions 24, no.22 (Jun 1998): 171–186.https://doi.org/10.1080/03050629808434925M.O. Odedokun Financial intermediation and economic growth in developing countries, Journal of Economic Studies 25, no.33 (Jun 1998): 203–224.https://doi.org/10.1108/01443589810215351Philip R. Gerson, The Impact of Fiscal Policy Variableson Output Growth, IMF Working Papers 98, no.11 (Jan 1998): 1.https://doi.org/10.5089/9781451841602.001Selami Sezgin Country survey X: Defence spending in Turkey, Defence and Peace Economics 8, no.44 (Oct 2007): 381–409.https://doi.org/10.1080/10430719708404887Nicholas Antonakis Defence spending and growth in Greece: a comment and further empirical evidence, Applied Economics Letters 4, no.1010 (Oct 1997): 651–655.https://doi.org/10.1080/758533294Abdul M.M. Masih, Rumi Masih, Mohammad S. Hasan New evidence from an alternative methodological approach to the defence spending‐economic growth causality issue in the case of mainland China, Journal of Economic Studies 24, no.33 (Jun 1997): 123–140.https://doi.org/10.1108/01443589710167347James C. Murdoch, Chung‐Ron Pi, Todd Sandler The impact of defense and non‐defense public spending on growth in Asia and Latin America∗, Defence and Peace Economics 8, no.22 (Apr 1997): 205–224.https://doi.org/10.1080/10430719708404876N. Antonakis Military Expenditure and Economic Growth in Greece, 1960-90, Journal of Peace Research 34, no.11 (Feb 1997): 89–100.https://doi.org/10.1177/0022343397034001007W.Robert J. Alexander, Paul Hansen, P.Dorian Owen Inference on productivity differentials in multi-sector models of economic growth, Journal of Development Economics 51, no.22 (Dec 1996): 315–325.https://doi.org/10.1016/S0304-3878(96)00417-8Ron Matthews, Jurgen Brauer Book reviews, Defence and Peace Economics 7, no.44 (Nov 1996): 357–360.https://doi.org/10.1080/10430719608404864UK HEO The Political Economy of Defense Spending in South Korea, Journal of Peace Research 33, no.44 (Jul 2016): 483–490.https://doi.org/10.1177/0022343396033004008JORDIN S. COHEN, RANDOLPH STEVENSON, ALEX MINTZ, MICHAEL D. WARD Defense Expenditures and Economic Growth in Israel: The Indirect Link, Journal of Peace Research 33, no.33 (Aug 1996): 341–352.https://doi.org/10.1177/0022343396033003007M.O. Odedokun Alternative econometric approaches for analysing the role of the financial sector in economic growth: Time-series evidence from LDCs, Journal of Development Economics 50, no.11 (Jun 1996): 119–146.https://doi.org/10.1016/0304-3878(96)00006-5 References, (Mar 2015): 555–582.https://doi.org/10.1108/S0573-8555(1996)0000235030Jonathan Lipow, Camille M. Antinori External security threats, defense expenditures, and the economic growth of less-developed countries, Journal of Policy Modeling 17, no.66 (Dec 1995): 579–595.https://doi.org/10.1016/0161-8938(95)00021-6Alex Mintz, Randolph T. Stevenson Defense Expenditures, Economic Growth, and The “Peace Dividend”, Journal of Conflict Resolution 39, no.22 (Jun 1995): 283–305.https://doi.org/10.1177/0022002795039002004W. Robert J. Alexander Defence spending: Burden or growth‐promoting?, Defence and Peace Economics 6, no.11 (May 1995): 13–25.https://doi.org/10.1080/10430719508404809F. Gerard Adams, Jose V. Ciprut The demand for defense in East Asia: Modeling security alternatives∗, Defence and Peace Economics 6, no.11 (May 1995): 43–58.https://doi.org/10.1080/10430719508404811Michael D. Ward, Mohan Penubarti, Jordin S. Cohen, Corey L. Lofdahl Guns and growth around the globe, International Interactions 21, no.22 (Mar 1995): 181–201.https://doi.org/10.1080/03050629508434865Julia Kwong, Zachary Zimmer Militarization and social development in the Third World, The Australian and New Zealand Journal of Sociology 31, no.11 (Sep 2016): 64–81.https://doi.org/10.1177/144078339503100105Karl R. DeRouen Arab-Israeli Defense Spending and Economic Growth, Conflict Management and Peace Science 14, no.11 (Aug 2016): 25–47.https://doi.org/10.1177/073889429501400102Keith Hartley, Todd Sandler Chapter 1 Introduction, (Jan 1995): 1–11.https://doi.org/10.1016/S1574-0013(05)80003-1Rati Ram Chapter 10 Defense expenditure and economic growth, (Jan 1995): 251–274.https://doi.org/10.1016/S1574-0013(05)80012-2Saadet Deger, Somnath Sen Chapter 11 Military expenditure and developing countries, (Jan 1995): 275–307.https://doi.org/10.1016/S1574-0013(05)80013-4STEPHANIE G. NEUMAN Arms Transfers, Military Assistance, and Defense Industries: Socioeconomic Burden or Opportunity?, The ANNALS of the American Academy of Political and Social Science 535, no.11 (Sep 2016): 91–109.https://doi.org/10.1177/0002716294535001007Daniel Landau The impact of military expenditures on economic growth in the less developed countries∗, Defence and Peace Economics 5, no.33 (Jul 1994): 205–220.https://doi.org/10.1080/10430719408404793Jacques Fontanel The economics of disarmament: A survey, Defence and Peace Economics 5, no.22 (Jun 1994): 87–120.https://doi.org/10.1080/10430719408404784W. Robert J. Alexander The government sector, the export sector and growth, De Economist 142, no.22 (May 1994): 211–220.https://doi.org/10.1007/BF01388166W. Robert J. Alexander The investment-output ratio in growth regressions, Applied Economics Letters 1, no.55 (May 1994): 74–76.https://doi.org/10.1080/135048594358177W. Robert, J. Alexander Money and growth in a sectoral production function framework, Applied Financial Economics 4, no.22 (Apr 1994): 133–142.https://doi.org/10.1080/758523957Newman Kwadwo Kusi Economic Growth and Defense Spending in Developing Countries, Journal of Conflict Resolution 38, no.11 (Mar 1994): 152–159.https://doi.org/10.1177/0022002794038001009Karl R. DeRouen Defense spending and economic growth in Latin America: The externalities effects, International Interactions 19, no.33 (Feb 1994): 193–212.https://doi.org/10.1080/03050629408434827Alex Mintz, Randolph T. Stevenson Armament and Development: An Empirical Assessment of the Impact of Military Spending on Economic Growth in Developing Countries, (Jan 1994): 245–253.https://doi.org/10.1007/978-1-349-23695-4_23M.O. Odedokun Factors Responsible for the Poor Economic Growth Performance of Africa in 1970's and 1980's: A Cross-Sectional Evidence from 42 Countries, African Development Review 5, no.11 (Jun 1993): 32–61.https://doi.org/10.1111/j.1467-8268.1993.tb00123.xMichael D. Ward, David R. Davis Sizing up the Peace Dividend: Economic Growth and Military Spending in the United States, 1948–1996, American Political Science Review 86, no.33 (Sep 2013): 748–755.https://doi.org/10.2307/1964136Mikael Lindén Military Expenditure, Government Size and Economic Growth in the Middle East in the Period 1973-85, Journal of Peace Research 29, no.33 (Aug 1992): 265–270.https://doi.org/10.1177/0022343392029003003Mohan Penubarti, Sheen Rajmaira, David Davis, Amalia Cochran, Michael Ward Economic growth, investment, and military spending in India, 1950‚Äì88, (Dec 2009).https://doi.org/10.4324/9780203203590.ch7Steve Chan Military burden, economic growth, and income inequality, (Dec 2009).https://doi.org/10.4324/9780203203590.ch9Susan M. McMillan Economic growth and military spending in South Africa, International Interactions 18, no.11 (Jul 1992): 35–50.https://doi.org/10.1080/03050629208434792Walter Isard, Charles H. Anderton A SURVEY OF THE PEACE ECONOMICS LITERATURE, (Jan 1992): 1–55.https://doi.org/10.1016/B978-0-444-88848-8.50006-3Manas Chatterji REGIONAL CONFLICT AND MILITARY SPENDING IN THE DEVELOPING COUNTRIES, (Jan 1992): 235–248.https://doi.org/10.1016/B978-0-444-88848-8.50016-6Abdur R. Chowdhury A Causal Analysis of Defense Spending and Economic Growth, Journal of Conflict Resolution 35, no.11 (Mar 1991): 80–97.https://doi.org/10.1177/0022002791035001005F. Gerard Adams, Jere R. Behrman, Michael Boldin Government Expenditures, Defense, and Economic Growth in the Ldcs: A Revised Perspective, Conflict Management and Peace Science 11, no.22 (Aug 2016): 19–35.https://doi.org/10.1177/073889429101100202Robert E. Looney Defense Expenditures and Economic Performance in South Asia: Tests of Causality and Interdependence, Conflict Management and Peace Science 11, no.22 (Aug 2016): 37–67.https://doi.org/10.1177/073889429101100203Charles J. LaCivita, Peter C. Frederiksen Defense spending and economic growth An alternative approach to the causality issue, Journal of Development Economics 35, no.11 (Jan 1991): 117–126.https://doi.org/10.1016/0304-3878(91)90069-8W. Robert J. Alexander The impact of defence spending on economic growth∗, Defence Economics 2, no.11 (Dec 1990): 39–55.https://doi.org/10.1080/10430719008404677Lisa M. Grobar, Richard C. Porter Benoit Revisited:, Journal of Conflict Resolution 33, no.22 (Jul 2016): 318–345.https://doi.org/10.1177/0022002789033002007Kwabena Gyimah-Brempong Defense Spending and Economic Growth in Subsaharan Africa: An Econometric Investigation, Journal of Peace Research 26, no.11 (Jun 2016): 79–90.https://doi.org/10.1177/0022343389026001008Robert E. Looney Budgetary Impacts of third world arms production, International Journal of Public Administration 11, no.55 (Jan 1988): 601–621.https://doi.org/10.1080/01900698808524605William J. Dixon, Bruce E. Moon The Military Burden and Basic Human Needs, Journal of Conflict Resolution 30, no.44 (Dec 1986): 660–684.https://doi.org/10.1177/0022002786030004004Manas Chatterji Military Expenditure and Development, (): 9–51.https://doi.org/10.1016/S1572-8323(05)02002-3