Causality between Military Expenditure and Economic Growth in Advanced and Developing countries

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  • Ando Shio
    Graduate School of Commerce, Meiji University

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Other Title
  • 先進国と発展途上国における防衛支出と経済成長の因果関係
  • センシンコク ト ハッテン トジョウコク ニ オケル ボウエイ シシュツ ト ケイザイ セイチョウ ノ インガ カンケイ

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Description

The purpose of this paper is to analyze the defense-growth relationship. We estimate the economic growth equation based on Feder-Ram model for advanced and developing economies using panel data over the period 1995-2003. Now, we should consider converting security measures to cope with nonconventional conflict. The empirical results suggest that defense expenditure has a positive impact on the rate of economic growth in both economies. Military burden doesn't have much negative effect on economies in this period.

Journal

  • MACRO REVIEW

    MACRO REVIEW 20 (1/2), 55-61, 2007

    JAPAN MACRO-ENGINEERS SOCIETY

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