Military Expenditure and Debt in Small Industrialised Economies: A Panel Analysis
AbstractThis 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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol in its series Working Papers with number 0306.
Length: 17 pages
Date of creation: Jun 2003
Date of revision:
Contact details of provider:
Postal: Frenchay Campus, Coldharbour Lane, Bristol BS16 1QY
Phone: 0117 328 3610
Web page: http://www1.uwe.ac.uk/bl/research/bristoleconomics.aspx
More information through EDIRC
Military spending; external debt; panel data.;
Other versions of this item:
- Paul Dunne & Sam Perlo-Freeman & Aylin Soydan, 2004. "Military expenditure and debt in small industrialised economies: A panel analysis," Defence and Peace Economics, Taylor & Francis Journals, vol. 15(2), pages 125-132.
- 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; Spatio-temporal Models
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.:
- Rudiger Dornbusch, 1986.
"International debt and economic instability,"
Proceedings - Economic Policy Symposium - Jackson Hole,
Federal Reserve Bank of Kansas City, pages 63-97.
- Randa Alami, 2002. "Military Debt: Perspectives from the Experience of Arab Countries," Defence and Peace Economics, Taylor & Francis Journals, vol. 13(1), pages 13-30.
- Kevin Ross & R. Brooks & Robert Powell & Ydahlia A. Metzgen Quemarez & Doris C. Ross & Mariano Cortes & Saqib Rizavi & Benoit Ketchekmen & Francesca Fornasari, 1998. "External Debt Histories of Ten Low-Income Developing Countries - Lessons from Their Experience," IMF Working Papers 98/72, International Monetary Fund.
- Milman, Claudio D., 1998. "The Latin American foreign debt revisited," Global Finance Journal, Elsevier, vol. 9(2), pages 173-180.
- Catherine Pattillo & Hélène Poirson & Luca Antonio Ricci, 2011.
"External Debt and Growth,"
Review of Economics and Institutions,
Università di Perugia, vol. 2(3).
- 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.
- 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.
- Pesaran, M.H. & Smith, R., 1992. "Estimating Long-Run Relationships From Dynamic Heterogeneous Panels," Cambridge Working Papers in Economics 9215, Faculty of Economics, University of Cambridge.
- Fischer, Stanley & Easterly, William, 1990. "The Economic of the Government Budget Constraint," World Bank Research Observer, World Bank Group, vol. 5(2), pages 127-42, July.
- Brauer, Jurgen, 2007. "Arms Industries, Arms Trade, and Developing Countries," Handbook of Defense Economics, Elsevier.
- Yemane Wolde-Rufael, 2009. "The Defence Spending-External Debt Nexus In Ethiopia," Defence and Peace Economics, Taylor & Francis Journals, vol. 20(5), pages 423-436.
- Luca Pieroni, 2007. "How Strong is the Relationship between Defence Expenditure and Private Consumption? Evidence from the United States," Working Papers 0705, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
- Paresh Kumar Narayan & Russell Smyth, 2007. "The Military Expenditure-External Debt Nexus: New Evidence From A Panel Of Middle Eastern Countries," Monash Economics Working Papers 17-07, Monash University, Department of Economics.
- Oya Erdogdu, 2008.
"Political Decisions, Defense And Growth,"
Defence and Peace Economics,
Taylor & Francis Journals, vol. 19(1), pages 27-35.
- J Paul Dunne & Sam Perlo-Freeman & Aylin Soydan, 2003.
"Military Expenditure and Debt in South America,"
0307, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
- Shahbaz, Muhammad & Shabbir, Shahbaz Muhammad & Butt, Muhammad Sabihuddin, 2011. "Does Military Spending Explode External Debt in Pakistan?," MPRA Paper 30429, University Library of Munich, Germany, revised 21 Apr 2011.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Felix Ritchie).
If references are entirely missing, you can add them using this form.