Military Expenditures, External Threats and Economic Growth
AbstractDo 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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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 15 (2008)
Issue (Month): 16 ()
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Find related papers by JEL classification:
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
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- Aizenman, Joshua & Glick, Reuven, 2003.
"Military Expenditure, Threats, and Growth,"
Santa Cruz Department of Economics, Working Paper Series
qt41r4105h, Department of Economics, UC Santa Cruz.
- Joshua Aizenman & Reuven Glick, 2006. "Military expenditure, threats, and growth," The Journal of International Trade & Economic Development, Taylor & Francis Journals, Taylor & Francis Journals, vol. 15(2), pages 129-155.
- Joshua Aizenman & Reuven Glick, 2003. "Military Expenditure, Threats, and Growth," NBER Working Papers 9618, National Bureau of Economic Research, Inc.
- Joshua Aizenman & Reuven Glick, 2003. "Military expenditure, threats, and growth," Working Paper Series, Federal Reserve Bank of San Francisco 2003-08, Federal Reserve Bank of San Francisco.
- Aizenman, Joshua & Glick, Reuven, 2003. "Military Expenditure, Threats, and Growth," Santa Cruz Center for International Economics, Working Paper Series, Center for International Economics, UC Santa Cruz qt41r4105h, Center for International Economics, UC Santa Cruz.
- Alchian, Armen A. & Demsetz, Harold, 1973. "The Property Right Paradigm," The Journal of Economic History, Cambridge University Press, Cambridge University Press, vol. 33(01), pages 16-27, March.
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