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Military and Economic Growth in ASEAN-5 Countries

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Author Info
Hirnissa, M.T
Habibullah, M.S.
Baharom, A.H.

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Abstract

In this study we employ the bounds testing procedure suggested by Pesaran (2001) and dynamic OLS (DOLS) proposed by Stock and Watson (1993) to test the robustness of the causal effect and long-run relationships between military expenditure and economic growth in ASEAN-5 countries from the year 1965 to 2006. Generally, our results suggest that: (1) there are only three (Indonesia, Thailand, Singapore) out of five countries analyzed exhibit long–run relationship between military expenditure and economic growth; (2) While for the case of Singapore, the causality is bidirectional, for Indonesia and Thailand it is unidirectional from military expenditure to economic growth; and (3) For the remaining countries, (Malaysia and Philippines), no meaningful relationship could be detected. The results are robust, producing similar results employing both ARDL and DOLS.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 13108.

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Date of creation: 04 Aug 2008
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Handle: RePEc:pra:mprapa:13108

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Related research
Keywords: military expenditure; economic growth; Asean-5;

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Find related papers by JEL classification:
H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
E00 - Macroeconomics and Monetary Economics - - General - - - General

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  1. Kalyoncu, Huseyin & Yucel, Fatih, 2005. "An analytical approach on defense expenditure and economic growth: the case of Turkey and Greece," MPRA Paper 4262, University Library of Munich, Germany, revised 2006. [Downloadable!]
    Other versions:
  2. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326. [Downloadable!]
  3. Jülide Yildirim & Nadir Öcal, 2006. "Arms Race And Economic Growth: The Case Of India And Pakistan," Defence and Peace Economics, Taylor and Francis Journals, vol. 17(1), pages 37-45, February. [Downloadable!] (restricted)
  4. Abu-Bader, Suleiman & Abu-Qarn, Aamer S., 2003. "Government expenditures, military spending and economic growth: causality evidence from Egypt, Israel, and Syria," Journal of Policy Modeling, Elsevier, vol. 25(6-7), pages 567-583, September. [Downloadable!] (restricted)
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  5. Christos Kollias & Charis Naxakisb & Leonidas Zarangasb, 2004. "Defence Spending and Growth in Cyprus: A Causal Analysis," Defence and Peace Economics, Taylor and Francis Journals, vol. 15(3), pages 299-307, June. [Downloadable!] (restricted)
  6. Deger, Saadet, 1986. "Economic Development and Defense Expenditure," Economic Development and Cultural Change, University of Chicago Press, vol. 35(1), pages 179-96, October.
  7. Kollias, Christos & Manolas, George & Paleologou, Suzanna-Maria, 2004. "Defence expenditure and economic growth in the European Union: A causality analysis," Journal of Policy Modeling, Elsevier, vol. 26(5), pages 553-569, July. [Downloadable!] (restricted)
  8. Frederiksen, P.C., 1991. "Economic Growth and Defense Spending: Evidence on Causality for Selected Asian Countries," Philippine Journal of Development, Philippine Institute for Development Studies, vol. 0(1), pages 131-146. [Downloadable!]
  9. Hannah Galvin, 2003. "The Impact Of Defence Spending On The Economic Growth Of Developing Countries: A Cross-Section Study," Defence and Peace Economics, Taylor and Francis Journals, vol. 14(1), pages 51-59, February. [Downloadable!] (restricted)
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