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Warfare, Economic Performance And The Struggle For World Hegemony In The Early Modern Period: Guns Versus Butter In Eighteenth-Century Britain And Spain

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  • Jos� Jurado-Sánchez
  • Miguel Jerez-M�ndez

Abstract

Testing the existence of budgetary trade-offs in eighteenth-century Britain and Spain can contribute to resolve the debate on the economic impact of warfare and its relationships with the military potential of nations and the struggle for world supremacy during the early modern period. We have constructed several empirical models to search for trade-offs in order to show which country had the whip hand in achieving its military and economic objectives. Britain was ahead of Spain for several reasons. Britain was more efficient in deploying the available resources because it built an effective national bureaucracy. Furthermore, the institutional reforms made from the seventeenth century onwards increased the level of resources through enhancement of the British economy.

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  • Jos� Jurado-Sánchez & Miguel Jerez-M�ndez, 2012. "Warfare, Economic Performance And The Struggle For World Hegemony In The Early Modern Period: Guns Versus Butter In Eighteenth-Century Britain And Spain," Defence and Peace Economics, Taylor & Francis Journals, vol. 23(4), pages 389-412, August.
    • Handle: RePEc:taf:defpea:v:23:y:2012:i:4:p:389-412
    DOI: 10.1080/10242694.2011.626964
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    1. Lee A. Craig & Douglas Fisher, 2000. "The European Macroeconomy," Books, Edward Elgar Publishing, number 770.
    2. Peter Lindert, 2004. "Social Spending and Economic Growth," Challenge, Taylor & Francis Journals, vol. 47(4), pages 6-16.
    3. Mintz, Jack M. & Smart, Michael, 2006. "Incentives for public investment under fiscal rules," Policy Research Working Paper Series 3860, The World Bank.
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    Cited by:

    1. Wen-Yi Chen & Yai-Wun Liang & Yu-Hui Lin, 2018. "Does Health Spending Crowd out Defense in the United States? Evidence from Wavelet Multiresolution Analysis," Defence and Peace Economics, Taylor & Francis Journals, vol. 29(7), pages 780-793, November.

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