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Military Debt: Perspectives from the Experience of Arab Countries

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  • Randa Alami

Abstract

This paper highlights the importance of military debts in Arab external debt profiles. By 1990, these debts ranged between $45-90 billion--equivalent to 40% of their debts of that time--and were important in six of the nine severely indebted economies. The paper also sketches the broad features of the military credits market, which clearly affects civilian and total indebtedness. Hence, military spending and military debts are more intrinsic to debt formation than debt economics has admitted. Particularly in this region, explicit treatment of the military dimension is crucial for a more complete or accurate analysis of external indebtedness.

Suggested Citation

  • Randa Alami, 2002. "Military Debt: Perspectives from the Experience of Arab Countries," Defence and Peace Economics, Taylor & Francis Journals, vol. 13(1), pages 13-30.
    • Handle: RePEc:taf:defpea:v:13:y:2002:i:1:p:13-30
    DOI: 10.1080/10242690210964
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    References listed on IDEAS

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    1. Michael Brzoska, 1983. "Research Communication: The Military Related External Debt of Third World Countries," Journal of Peace Research, Peace Research Institute Oslo, vol. 20(3), pages 271-277, September.
    2. Lamb, G. & Kallab, V., 1992. "Military Expenditure and Economic Development; A Symposium on Research Issues," World Bank - Discussion Papers 185, World Bank.
    3. Jean-Claude Berthélemy & Robert S. McNamara & Somnath Sen, 1994. "The Disarmament Dividend: Challenges for Development Policy," OECD Development Centre Policy Briefs 8, OECD Publishing.
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    Cited by:

    1. Muhammad Shahbaz & Naceur Khraief & Mantu Kumar Mahalik & Saleheen Khan, 2018. "Are Fluctuations in Military Spending Transitory or Permanent? International Evidence," Economics Bulletin, AccessEcon, vol. 38(2), pages 1198-1212.
    2. Zhang, Xiaoyan & Chang, Tsangyao & Su, Chi-Wei & Wolde-Rufael, Yemane, 2016. "Revisit causal nexus between military spending and debt: A panel causality test," Economic Modelling, Elsevier, vol. 52(PB), pages 939-944.
    3. J. Paul Dunne † & Sam Perlo-Freeman ‡ & Aylin Soydan §, 2004. "Military expenditure and debt in small industrialised economies: A panel analysis," Defence and Peace Economics, Taylor & Francis Journals, vol. 15(2), pages 125-132, April.
    4. Latif Wahid, 2009. "Military Expenditure and Economic Growth in the Middle East," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-25076-5.
    5. Muhammad Shahbaz & Muhammad shahbaz Shabbir & Muhammad sabihuddin Butt, 2016. "Does Military Spending Explode External Debt in Pakistan?," Defence and Peace Economics, Taylor & Francis Journals, vol. 27(5), pages 718-741, September.
    6. Sotirios K. Bellos, 2017. "The Relationship between Military Expenditure and Certain Growth and Development Related Variables in Transition Economies: A Panel Data Analysis," Applied Economics and Finance, Redfame publishing, vol. 4(5), pages 31-44, September.
    7. Paresh Kumar Narayan & Russell Smyth, 2007. "The Military Expenditure-External Debt Nexus: New Evidence From A Panel Of Middle Eastern Countries," Monash Economics Working Papers 17-07, Monash University, Department of Economics.
    8. Eftychia Nikolaidou, 2016. "The role of military expenditure and arms imports in the Greek debt crisis," Economics of Peace and Security Journal, EPS Publishing, vol. 11(1), pages 18-27, April.
    9. Pempetzoglou Maria, 2021. "A Literature Survey on Defense Expenditures – External Debt Nexus," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 27(1), pages 119-141, February.
    10. Shahbaz, Muhammad & Khraief, Naceur & Kumar Mahalik, Mantu & Khan, Saleheen, 2018. "Military Spending Response to Defense Shocks? International Evidence," MPRA Paper 87362, University Library of Munich, Germany, revised 12 Jun 2018.

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