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The Arms Trade and Arms Control

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Author Info

  • Levine, Paul
  • Smith, Ron

Abstract

This paper constructs a dynamic model of the arms trade in which there are a small number of suppliers who care about the profits from the trade and the security consequences of the sale and a large number of interacting buyers who are concerned about their security relative to regional rivals. The authors derive the equilibrium under a number of assumptions about market structure. This model is then used to evaluate the benefits and sustainability of a proposed arms control regime that involves establishing a cartel of suppliers, taxing arms exports, and distributing the proceeds to recipients. Copyright 1995 by Royal Economic Society.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 105 (1995)
Issue (Month): 429 (March)
Pages: 471-84

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Handle: RePEc:ecj:econjl:v:105:y:1995:i:429:p:471-84

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Citations

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Cited by:
  1. Garcia-Alonso, M.C., 1998. "The role of Technology Security in a Model of Trade with Horizontal Differentiation," UFAE and IAE Working Papers 423.98, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  2. Akerman, Anders & Larsson, Anna, 2010. "The Global Arms Trade Network 1950-2007," Research Papers in Economics 2010:2, Stockholm University, Department of Economics.
  3. Levine, Paul & Smith, Ron, 1997. "The arms trade and the stability of regional arms races," Journal of Economic Dynamics and Control, Elsevier, vol. 21(2-3), pages 631-654.
  4. María del Carmen García-Alonso, 2000. "Security and Price Arbitrage," Studies in Economics 0002, Department of Economics, University of Kent.
  5. Christos Kollias & Kleanthis Sirakoulis, 2002. "Arms Racing and the Costs of Arms Imports: A Stochastic Model," Defence and Peace Economics, Taylor & Francis Journals, vol. 13(2), pages 137-143.
  6. Maria del Carmen Garcia-Alonso & Keith Hartley, 2000. "Export controls, market structure and international coordination," Defence and Peace Economics, Taylor & Francis Journals, vol. 11(3), pages 481-503.
  7. Benny Mantin & Asher Tishler, 2004. "The structure of the defense industry and the security needs of the country: a differentiated products model," Defence and Peace Economics, Taylor & Francis Journals, vol. 15(5), pages 397-419.
  8. Garcia-Alonso, Maria del Carmen, 2003. "National-security export-quality restrictions in segmented and non-segmented markets," European Journal of Political Economy, Elsevier, vol. 19(2), pages 377-390, June.
  9. Kobi Kagan & Asher Tishler & Avi Weiss, 2005. "On The Use Of Terror Weapons Versus Modern Weapon Systems In An Arms Race Between Developed And Less Developed Countries," Defence and Peace Economics, Taylor & Francis Journals, vol. 16(5), pages 331-346.
  10. Yoad Shefi & Asher Tishler, 2005. "The Effects Of The World Defense Industry And Us Military Aid To Israel On The Israeli Defense Industry: A Differentiated Products Model," Defence and Peace Economics, Taylor & Francis Journals, vol. 16(6), pages 427-448.
  11. Bove Vincenzo & Gleditsch Kristian Skrede, 2011. "2010 Lewis Fry Richardson Lifetime Achievement Award: Ron P. Smith and the Economics of War and Peace," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 17(1), pages 1-12, December.

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