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The Arms Trade and Arms Control

Author

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  • Levine, Paul
  • Smith, Ron

Abstract

This paper constructs a dynamic model of the arms trade in which there are a small number of suppliers who care about the profits from the trade and the security consequences of the sale and a large number of interacting buyers who are concerned about their security relative to regional rivals. The authors derive the equilibrium under a number of assumptions about market structure. This model is then used to evaluate the benefits and sustainability of a proposed arms control regime that involves establishing a cartel of suppliers, taxing arms exports, and distributing the proceeds to recipients. Copyright 1995 by Royal Economic Society.

Suggested Citation

  • Levine, Paul & Smith, Ron, 1995. "The Arms Trade and Arms Control," Economic Journal, Royal Economic Society, vol. 105(429), pages 471-484, March.
    • Handle: RePEc:ecj:econjl:v:105:y:1995:i:429:p:471-84
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    Citations

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    Cited by:

    1. Levine, Paul & Smith, Ron, 1997. "The arms trade and the stability of regional arms races," Journal of Economic Dynamics and Control, Elsevier, vol. 21(2-3), pages 631-654.
    2. Sanchez-Pages, Santiago & Cubel, Maria, 2015. "An axiomatization of difference-form contest success functions," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon TN 2015-49, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. del Carmen Garcia-Alonso, Maria, 2000. "The role of technology security in a model of trade with horizontal differentiation," International Journal of Industrial Organization, Elsevier, vol. 18(5), pages 747-772, July.
    4. Pamp, Oliver & Lebacher, Michael & Thurner, Paul W. & Ziegler, Eva, 2021. "Explaining destinations and volumes of international arms transfers: A novel network Heckman selection model," European Journal of Political Economy, Elsevier, vol. 69(C).
    5. Maria del Carmen Garcia-Alonso & Keith Hartley, 2000. "Export controls, market structure and international coordination," Defence and Peace Economics, Taylor & Francis Journals, vol. 11(3), pages 481-503.
    6. Paul Levine & Ron Smith, 2000. "Arms Export Controls and Proliferation," Journal of Conflict Resolution, Peace Science Society (International), vol. 44(6), pages 885-895, December.
    7. Akerman, Anders & Seim, Anna Larsson, 2014. "The global arms trade network 1950–2007," Journal of Comparative Economics, Elsevier, vol. 42(3), pages 535-551.
    8. Garcia-Alonso, Maria del Carmen, 2003. "National-security export-quality restrictions in segmented and non-segmented markets," European Journal of Political Economy, Elsevier, vol. 19(2), pages 377-390, June.
    9. Kobi Kagan & Asher Tishler & Avi Weiss, 2005. "On The Use Of Terror Weapons Versus Modern Weapon Systems In An Arms Race Between Developed And Less Developed Countries," Defence and Peace Economics, Taylor & Francis Journals, vol. 16(5), pages 331-346.
    10. Cubel, María & Sanchez-Pages, Santiago, 2016. "An axiomatization of difference-form contest success functions," Journal of Economic Behavior & Organization, Elsevier, vol. 131(PA), pages 92-105.
    11. Dunne J. Paul & Nikolaidou Eftychia & Smith Ron P., 2005. "Is there an Arms Race between Greece and Turkey?," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 11(2), pages 140-174, November.
    12. María del Carmen García-Alonso, 2000. "Security and Price Arbitrage," Studies in Economics 0002, School of Economics, University of Kent.
    13. Oliver Pamp & Florian Dendorfer & Paul W. Thurner, 2018. "Arm your friends and save on defense? The impact of arms exports on military expenditures," Public Choice, Springer, vol. 177(1), pages 165-187, October.
    14. Christos Kollias & Kleanthis Sirakoulis, 2002. "Arms Racing and the Costs of Arms Imports: A Stochastic Model," Defence and Peace Economics, Taylor & Francis Journals, vol. 13(2), pages 137-143.
    15. Itay Ringel & Asher Tishler, 2011. "The Government Budget Allocation Process and National Security: An Application to the Israeli–Syrian Arms Race," Chapters, in: Derek L. Braddon & Keith Hartley (ed.), Handbook on the Economics of Conflict, chapter 6, Edward Elgar Publishing.
    16. Gangopadhyay Partha, 2014. "A Formal Model of Arms Market with Cash-for-Favours," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 20(3), pages 411-428, August.
    17. Vincenzo Bove & Claudio Deiana & Roberto Nistic�, 2018. "Global Arms Trade and Oil Dependence," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 34(2), pages 272-299.
    18. Paul Levine & Fotis Mouzakis & Ron Smith, 2000. "Arms export controls and emerging domestic producers," Defence and Peace Economics, Taylor & Francis Journals, vol. 11(3), pages 505-531.
    19. Bove Vincenzo & Gleditsch Kristian Skrede, 2011. "2010 Lewis Fry Richardson Lifetime Achievement Award: Ron P. Smith and the Economics of War and Peace," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 17(1), pages 1-12, December.
    20. Yoad Shefi & Asher Tishler, 2005. "The Effects Of The World Defense Industry And Us Military Aid To Israel On The Israeli Defense Industry: A Differentiated Products Model," Defence and Peace Economics, Taylor & Francis Journals, vol. 16(6), pages 427-448.
    21. Benny Mantin & Asher Tishler, 2004. "The structure of the defense industry and the security needs of the country: a differentiated products model," Defence and Peace Economics, Taylor & Francis Journals, vol. 15(5), pages 397-419.
    22. Saar Golde & Asher Tishler, 2004. "Security Needs, Arms Exports, and the Structure of the Defense Industry," Journal of Conflict Resolution, Peace Science Society (International), vol. 48(5), pages 672-698, October.

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