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Warfare, Economic Development and Well-being

Author

Listed:
  • Paolo Rizzi

    (Department of Economic and Social Sciences (DiSES), Catholic University)

Abstract

The paper sets out to analyse the relation between military spending, Warfare and some measures of Well-being, in the current context of globalisation and convergence processes. On the one hand, growth drivers are attributable to gross fixed capital formation, attraction of foreign direct investment and ability to export. On the other hand, military expenditures, once again rising in the Middle East, North Africa and Central Europe, have negative effects on economic growth paths. The aim of the current paper is to verify such trends with economic development as well as indicators of subjective Well-being and institutional development, through analyses of bivariate correlations and some econometric models. The effects of displacement of public welfare in relation to productive investment or social and educational expenditure represent clear constraints that hamper a balanced and sustainable development and, in general, the social Well-being, as measured by new indicators of democracy level and happiness.

Suggested Citation

  • Paolo Rizzi, 2019. "Warfare, Economic Development and Well-being," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 127(2), pages 145-171.
    • Handle: RePEc:vep:journl:y:2019:v:127:i:2:p:145-171
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    More about this item

    Keywords

    Economic development; Well-being; Military expenditure;
    All these keywords.

    JEL classification:

    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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