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Effects of corruption on military expenditures

Author

Listed:
  • Imtiaz Arif
  • Lubna Khan
  • Syed Ali Raza

Abstract

Purpose - This study aims to investigate the effect of corruption on military expenditures in three income level countries. An annual data series of 97 countries covering high-income, middle-income, and low-income regions from 1997 to 2015 is used. Design/methodology/approach - The cross-sectional dependency and integration property of the data series was checked before applying the generalized method of moments approach to test the model. Findings - The results of the system generalized method of moments approach suggest that corruption increases the military budget of high-income countries, whereas corruption reduces the military budget of the middle- and low-income countries. Originality/value - This paper offers some substantial implications for the policymakers of each income group to curb corruption and improve economic development.

Suggested Citation

  • Imtiaz Arif & Lubna Khan & Syed Ali Raza, 2019. "Effects of corruption on military expenditures," Journal of Financial Crime, Emerald Group Publishing Limited, vol. 26(3), pages 774-785, July.
    • Handle: RePEc:eme:jfcpps:jfc-09-2018-0092
    DOI: 10.1108/JFC-09-2018-0092
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