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Convergence of Defence Burdens in Asia-Pacific Economies: A Residual Augmented Least Squares Approach

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  • Solarin Sakiru Adebola

    () (Multimedia University, 75450 Ayer Keroh Lama, Melaka 75450, Malaysia, Phone: +60122436814)

Abstract

This paper investigates convergence of military burdens in the Asia-Pacific countries. Two different datasets of military expenditure have been used in the analysis including the datasets from Stockholm International Peace Research Institute (SIPRI) and World Military Expenditures and Arms Transfers (WMEAT). Unlike the existing papers on convergence of military burdens, we adopt a two-step method that allows the identification of countries that contribute to both stochastic and beta convergence. In the course of investigating the stochastic convergence, we use a residual augmented least squares (RALS) unit root test. The results suggest a weak evidence for convergence of military burdens in Asia-Pacific region, which is a departure from the majority of the existing studies that have provided substantial evidence of convergence. We further examine sigma convergence and the results suggest mixed evidence for convergence of military burdens. The policy implications of the results are discussed in the conclusion section.

Suggested Citation

  • Solarin Sakiru Adebola, 2019. "Convergence of Defence Burdens in Asia-Pacific Economies: A Residual Augmented Least Squares Approach," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 25(2), pages 1-18, May.
  • Handle: RePEc:bpj:pepspp:v:25:y:2019:i:2:p:18:n:4
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    Cited by:

    1. Saba Charles Shaaba & Ngepah Nicholas, 2020. "Military expenditure and security outcome convergence in African regional economic communities: evidence from the convergence club algorithm," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 26(1), pages 1-28, February.

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