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Military spending: A perspective on the restructuring dynamics of the defense sector

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    Abstract

    This article is articulated in two sections. In the first-one we try to explain the dynamics of military spending and others social expenditures in the period 1988-2010 for the United States. According to empirical data we support the argument that there is a remarkable trade-off in the allocation of public spending, because, often, the increase in military expenditures was to detriment of those for the education, social security and health. In the second section we analyze the transition from the old "military industrial complex" to the new "military-security system" in the light of defense industry restructing. We focus in particular on the role of financialization and industrial concentration of the firms.

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    File URL: ftp://mse.univ-paris1.fr/pub/mse/CES2012/12060.pdf
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    Bibliographic Info

    Paper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number 12060.

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    Length: 17 pages
    Date of creation: Oct 2012
    Date of revision:
    Handle: RePEc:mse:cesdoc:12060

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    Keywords: Military-industrial complex; industry concentration; defense sector; military expenditures; public spending; trade-off effect; financialization; industry restructuring; military-security system.;

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    1. David Gold, 1997. "Evaluating the trade-off between military spending and investment in the United States," Defence and Peace Economics, Taylor & Francis Journals, vol. 8(3), pages 251-266.
    2. Malcolm Knight & Norman Loayza & Delano Villanueva, 1996. "The Peace Dividend: Military Spending Cuts and Economic Growth," IMF Staff Papers, Palgrave Macmillan, vol. 43(1), pages 1-37, March.
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