Military expenditure and debt in South America
AbstractThe debt crisis that struck South American countries in the 1980s led to severe recession and chronic economic problems. This paper considers one potentially important contributor to the growth of external debt, namely military spending. It considers the experience of Argentina, Brazil and Chile. It finds no evidence that military burden had any impact on the evolution of debt in Argentina and Brazil, but some evidence that military burden tended to increase debt in Chile. At the same time, Chile was the least affected of the three countries by acute financial crises resulting from the debt problems, although its relative levels of debt were as high or higher. This suggests that military burden may be important in determining debt in countries, but it is only of significance when it is not swamped by other macroeconomic and international factors.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Defence and Peace Economics.
Volume (Year): 15 (2004)
Issue (Month): 2 ()
Contact details of provider:
Web page: http://www.tandfonline.com/GDPE20
Other versions of this item:
- H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
- F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
- O54 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
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.:
- Fischer, Stanley & Easterly, William, 1990. "The Economic of the Government Budget Constraint," World Bank Research Observer, World Bank Group, vol. 5(2), pages 127-42, July.
- J Paul Dunne & Sam Perlo-Freeman & Aylin Soydan, 2003.
"Military Expenditure and Debt in Small Industrialised Economies: A Panel Analysis,"
0306, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
- 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.
- 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.
- Milman, Claudio D., 1998. "The Latin American foreign debt revisited," Global Finance Journal, Elsevier, vol. 9(2), pages 173-180.
- Yemane Wolde-Rufael, 2009. "The Defence Spending-External Debt Nexus In Ethiopia," Defence and Peace Economics, Taylor & Francis Journals, vol. 20(5), pages 423-436.
- 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.
- Erdal Karagol & Selami Sezgin, 2004. "DO defence expenditures increase debt rescheduling in Turkey? probit model approach," Defence and Peace Economics, Taylor & Francis Journals, vol. 15(5), pages 471-480.
- Khalid ZAMAN & Qazi Shujaat MAHMOOD & Muhammad Mushtaq KHAN & Awais RASHID & Mehboob AHMAD, 2012. "An Empirical Investigation of External Debt - Military Expenditure Nexus in Bangladesh," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 15(1), pages 173-188, June.
- Shahbaz, Muhammad & Shabbir, Shahbaz Muhammad & Butt, Muhammad Sabihuddin, 2011. "Does Military Spending Explode External Debt in Pakistan?," MPRA Paper 30429, University Library of Munich, Germany, revised 21 Apr 2011.
- Stylianou Tasos, 2012. "Economic Growth and Defense Spending in Greece, Turkey and Cyprus: Evidence from Cointegrated Panel Analysis," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 15(44), pages 163-182, June.
- Paul Dunne & Duncan Watson, 2005. "Manufacturing Growth, Technological Progress, and Military Expenditure," Working Papers 0511, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.