Using cointegration and Granger causality tests, examines the causal relationship between defence spending and economic growth in mainland China over the period 1950-1991. The results show that defence spending is not cointegrated with the real economic growth rate, implying the lack of any long-run equilibrium relationship between the two variables. In addition, Granger causality tests indicate causal independence between the two variables.
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Volume (Year): 20 (1993) Issue (Month): 6 (October) Pages: 37-43 Download reference. The following formats are available: HTML
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