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Economic, political, and social determinants of peace

Author

Listed:
  • Sterling Huang

    (INSEAD, Singapore)

  • David Throsby

    (Macquarie University, Sydney, Australia)

Abstract

Although quite a lot is known about the economics of war and conflict,rather less is known about the economics of peace. In this article we address the question - What are the major factors likely to lead countries toward peacefulness? We categorize these factors in three groups: economic, political, and socio-demographic, and test a set of hypotheses as to their influence using data for 2007 and 2008 covering more than 100 countries. Our results show that all three groups of factors play some part in contributing toward peacefulness in a country. In particular, among the economic factors we find that the most important influence is exerted by the openness of the economy. Political factors also emerge as significant, indicating that a properly constituted well-functioning democratic system of governance free of political corruption is an important requirement for the achievement of a peaceful society.

Suggested Citation

  • Sterling Huang & David Throsby, 2011. "Economic, political, and social determinants of peace," Economics of Peace and Security Journal, EPS Publishing, vol. 6(2), pages 5-14, July.
    • Handle: RePEc:epc:journl:v:6:y:2011:i:2:p:5-14
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    File URL: http://www.epsjournal.org.uk/index.php/EPSJ/article/view/125
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    Citations

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    Cited by:

    1. J. Paul Dunne, 2017. "War, peace, and development," Economics of Peace and Security Journal, EPS Publishing, vol. 12(2), pages 21-31, October.
    2. Christos Kollias & Suzanna Maria Paleologou & Panayiotis Tzeremes & Nickolaos Tzeremes, 2018. "The demand for military spending in Latin American countries," Latin American Economic Review, Springer;Centro de Investigaciòn y Docencia Económica (CIDE), vol. 27(1), pages 1-17, December.
    3. Daniel Albalate & Germà Bel & Ferran A. Mazaira-Font & Xavier Ros-Oton, 2023. "Paying for Protection: Bilateral Trade with an Alliance Leader and Defense Spending of Minor Partners," IREA Working Papers 202317, University of Barcelona, Research Institute of Applied Economics, revised Nov 2023.
    4. Hauwah K. K. Abdulkareem & Sodiq Olaiwola Jimoh & Ebenezer Olubiyi, 2023. "Trade–peace conundrum in Africa: The moderating effects of poverty and inequality," African Development Review, African Development Bank, vol. 35(4), pages 323-335, December.
    5. Christos Kollias & Suzanna-Maria Paleologou, 2017. "The Globalization and Peace Nexus: Findings Using Two Composite Indices," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 131(3), pages 871-885, April.

    More about this item

    Keywords

    Economics of peace; conflict resolution; Global Peace Index;
    All these keywords.

    JEL classification:

    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War

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