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Military Expenditure and Debt in Small Industrialised Economies: A Panel Analysis

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Author Info
J Paul Dunne () (University of the West of England)
Sam Perlo-Freeman (University of the West of England)
Aylin Soydan (Middlesex University Business School)

Additional information is available for the following registered author(s):

Abstract

This paper considers the impact of military spending on debt in a panel of 11 small industrialising economies using panel data methods. It provides estimates for fixed effects and random effects models and then moves on to consider dynamic models. The dynamics are found to be important and the results suggest that military burden does indeed have a positive impact on the share of external debt in GDP.

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File URL: http://carecon.org.uk/DPs/0306.pdf
File Format: application/pdf
File Function: First version, 2003
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Publisher Info
Paper provided by University of the West of England, Department of Economics in its series Discussion Papers with number 0306.

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Length: 17 pages
Date of creation: Jun 2003
Date of revision:
Handle: RePEc:uwe:wpaper:0306

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Web page: http://www.uwe.ac.uk/bbs/acad/econ/econ.shtml
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For technical questions regarding this item, or to correct its listing, contact: (J Paul Dunne).

Related research
Keywords: Military spending; external debt; panel data.;

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Find related papers by JEL classification:
H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. J Paul Dunne, 2006. "The Making of Arms in South Africa," Economics of Peace and Security Journal, Economists for Peace and Security (UK), vol. 1(1), pages 40-48, January. [Downloadable!] (restricted)
  2. Pesaran, M. Hashem & Smith, Ron, 1995. "Estimating long-run relationships from dynamic heterogeneous panels," Journal of Econometrics, Elsevier, vol. 68(1), pages 79-113, July. [Downloadable!] (restricted)
    Other versions:
  3. Fischer, Stanley & Easterly, William, 1990. "The Economic of the Government Budget Constraint," World Bank Research Observer, Oxford University Press, vol. 5(2), pages 127-42, July.
  4. Catherine A. Pattillo & Hélène Poirson & Luca Antonio Ricci, 2002. "External Debt and Growth," IMF Working Papers 02/69, International Monetary Fund.
  5. Rudiger Dornbusch, 1987. "International debt and economic instability," Economic Review, Federal Reserve Bank of Kansas City, issue Jan, pages 15-32. [Downloadable!]
    Other versions:
  6. Milman, Claudio D., 1998. "The Latin American foreign debt revisited," Global Finance Journal, Elsevier, vol. 9(2), pages 173-180. [Downloadable!] (restricted)
  7. Randa Alami, 2002. "Military Debt: Perspectives from the Experience of Arab Countries," Defence and Peace Economics, Taylor and Francis Journals, vol. 13(1), pages 13-30, January. [Downloadable!] (restricted)
  8. Saqib Rizavi & Mariano Cortes & Ydahlia A. Metzgen Quemarez & Francesca Fornasari & Benoit Ketchekmen & R. Brooks & Robert Powell & Doris C. Ross & Kevin Ross, 1998. "External Debt Histories of Ten Low-Income Developing Countries - Lessons from Their Experience," IMF Working Papers 98/72, International Monetary Fund.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. J Paul Dunne & Sam Perlo-Freeman & Aylin Soydan, 2003. "Military Expenditure and Debt in South America," Discussion Papers 0307, University of the West of England, Department of Economics. [Downloadable!]
    Other versions:
  2. Luca Pieroni, 2007. "How Strong is the Relationship between Defence Expenditure and Private Consumption? Evidence from the United States," Discussion Papers 0705, University of the West of England, Department of Economics. [Downloadable!]
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