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The International Arms Industry Since the End of the Cold War

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Abstract

This article surveys the evolution of the international arms market since the end of the Cold War. It begins with the policy context, the choices made by the national Ministries of Defence and the constraints they faced. It then looks at the choices available to the arms producers: convert, diversify, divest, co-operate or concentrate. These choices, by governments and firms, produced a large increase in the degree of concentration. The share of the five largest firms increased from just over 20% in 1990 to 45% in 1998, and it has increased further since then. Finally, the author looks at the economic adjustment in response to these shocks.

Suggested Citation

  • Ron Smith, 2001. "The International Arms Industry Since the End of the Cold War," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 2(3), pages 155-166, July.
    • Handle: RePEc:wej:wldecn:70
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    File URL: https://www.worldeconomics.com/Journal/Papers/Article.details?ID=70
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    Cited by:

    1. J. Paul Dunne & Ron P. Smith, 2016. "The evolution of concentration in the arms market," Economics of Peace and Security Journal, EPS Publishing, vol. 11(1), pages 12-17, April.
    2. J Paul Dunne & Maria Garcia Alonso & Paul Levine & Ron Smith, 2003. "Concentration in the International Arms Industry¤," Working Papers 0301, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
    3. Sergio Clavijo, 2004. "CRECIMIENTO, COMERCIO INTERNACIONAL E INSTITUCIONES: Reflexiones a Raíz de las Negociaciones TLC-ALCA," Borradores de Economia 307, Banco de la Republica de Colombia.
    4. Bove Vincenzo & Gleditsch Kristian Skrede, 2011. "2010 Lewis Fry Richardson Lifetime Achievement Award: Ron P. Smith and the Economics of War and Peace," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 17(1), pages 1-12, December.
    5. Jomana Amara, 2008. "Military industrialization and economic development: Jordan's defense industry," Review of Financial Economics, John Wiley & Sons, vol. 17(2), pages 130-145.

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