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Military Expenditures, External Threats and Economic Growth

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  • Ari Francisco de Araujo Junior

    ()
    (Ibmec Minas)

  • Cláudio D. Shikida

    ()
    (Ibmec Minas)

Abstract

Do military expenditures have impact on growth? Aizenman & Glick (2006) found that this impact is positive in countries with good governance, where the external threat is significant. Our article shows that their results suffer from three limitations: (i) they are not robust to the most recent main database used (ii) small changes in the time period of some variables change their results, and (iii) the authors' econometric specification is not adequate to their hypothesis. Using a 2SLS specification we reconfirm the authors'' hypothesis.

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File URL: http://www.accessecon.com/pubs/EB/2008/Volume15/EB-08O10019A.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 15 (2008)
Issue (Month): 16 ()
Pages: 1-7

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Handle: RePEc:ebl:ecbull:eb-08o10019

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  1. Joshua Aizenman & Reuven Glick, 2006. "Military expenditure, threats, and growth," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 15(2), pages 129-155.
  2. Alchian, Armen A. & Demsetz, Harold, 1973. "The Property Right Paradigm," The Journal of Economic History, Cambridge University Press, vol. 33(01), pages 16-27, March.
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