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Military expenditure and debt in small industrialised economies: A panel analysis

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Author Info
Paul Dunne
Sam Perlo-Freeman
Aylin Soydan

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Abstract

This paper considers the impact of military spending on debt in a panel of 11 small industrialising economies using panel data methods. It provide estimates for fixed effects and random effects models and then moves on to consider dynamic models. The dynamics are found to be important and the results suggest that military burden does indeed have a positive impact on the share of external debt in GDP.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal Defence and Peace Economics.

Volume (Year): 15 (2004)
Issue (Month): 2 (April)
Pages: 1-17
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Handle: RePEc:taf:defpea:v:15:y:2004:i:2:p:1-17

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Related research
Keywords: Military Spending; External Debt; Panel Data; Jel Codes; H56; C33;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. J Paul Dunne, 2006. "The Making of Arms in South Africa," Economics of Peace and Security Journal, Economists for Peace and Security (UK), vol. 1(1), pages 40-48, January. [Downloadable!] (restricted)
  2. Pesaran, M. Hashem & Smith, Ron, 1995. "Estimating long-run relationships from dynamic heterogeneous panels," Journal of Econometrics, Elsevier, vol. 68(1), pages 79-113, July. [Downloadable!] (restricted)
    Other versions:
  3. Fischer, Stanley & Easterly, William, 1990. "The Economic of the Government Budget Constraint," World Bank Research Observer, Oxford University Press, vol. 5(2), pages 127-42, July.
  4. Catherine A. Pattillo & Hélène Poirson & Luca Antonio Ricci, 2002. "External Debt and Growth," IMF Working Papers 02/69, International Monetary Fund.
  5. Rudiger Dornbusch, 1987. "International debt and economic instability," Economic Review, Federal Reserve Bank of Kansas City, issue Jan, pages 15-32. [Downloadable!]
    Other versions:
  6. Milman, Claudio D., 1998. "The Latin American foreign debt revisited," Global Finance Journal, Elsevier, vol. 9(2), pages 173-180. [Downloadable!] (restricted)
  7. Randa Alami, 2002. "Military Debt: Perspectives from the Experience of Arab Countries," Defence and Peace Economics, Taylor and Francis Journals, vol. 13(1), pages 13-30, January. [Downloadable!] (restricted)
  8. Saqib Rizavi & Mariano Cortes & Ydahlia A. Metzgen Quemarez & Francesca Fornasari & Benoit Ketchekmen & R. Brooks & Robert Powell & Doris C. Ross & Kevin Ross, 1998. "External Debt Histories of Ten Low-Income Developing Countries - Lessons from Their Experience," IMF Working Papers 98/72, International Monetary Fund.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. J Paul Dunne & Sam Perlo-Freeman & Aylin Soydan, 2003. "Military Expenditure and Debt in South America," Discussion Papers 0307, University of the West of England, Department of Economics. [Downloadable!]
    Other versions:
  2. 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. [Downloadable!]
  3. Luca Pieroni, 2007. "How Strong is the Relationship between Defence Expenditure and Private Consumption? Evidence from the United States," Discussion Papers 0705, University of the West of England, Department of Economics. [Downloadable!]
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This page was last updated on 2009-12-5.

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