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Defence Expenditure and Economic Growth in Malaysia: A Reassessment Using Bounds and Modified Wald Tests

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  • Chor Foon Tang

Abstract

The purpose of this study is to reinvestigate the relationship between defence expenditure and economic growth in Malaysia, over the period from 1960 to 2006. The bounds testing procedure is used to examine the long-run equilibrium relationship between defence expenditure and economic growth. The bounds test suggests that the variables are co-movement in the long run, but defence expenditure and economic growth is negatively correlated in both the short and long run. Moreover, the MWALD test shows bilateral causality evidence.

Suggested Citation

  • Chor Foon Tang, 2008. "Defence Expenditure and Economic Growth in Malaysia: A Reassessment Using Bounds and Modified Wald Tests," The IUP Journal of Public Finance, IUP Publications, vol. 0(2), pages 45-51, May.
    • Handle: RePEc:icf:icfjpf:v:06:y:2008:i:2:p:45-51
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    Cited by:

    1. Shahbaz, Muhammad & Leitão, Nuno Carlos & Uddin, Gazi Salah & Arouri, Mohamed & Teulon, Frédéric, 2013. "Should Portuguese economy invest in defense spending? A revisit," Economic Modelling, Elsevier, vol. 35(C), pages 805-815.
    2. Charles Shaaba Saba & Nicholas Ngepah, 2022. "Nexus between defence spending, economic growth and development: evidence from a disaggregated panel data analysis," Economic Change and Restructuring, Springer, vol. 55(1), pages 109-151, February.
    3. R.A.Susantha Kumara Ranasinghe & Ichihashi Masaru, 2014. "The Composition of Government Expenditure and Economic Growth : The Case of Sri Lanka," IDEC DP2 Series 4-7, Hiroshima University, Graduate School for International Development and Cooperation (IDEC).
    4. Muhammad Shahbaz & Talat Afza & Muhammad Shahbaz Shabbir, 2013. "Does Defence Spending Impede Economic Growth? Cointegration And Causality Analysis For Pakistan," Defence and Peace Economics, Taylor & Francis Journals, vol. 24(2), pages 105-120, April.
    5. Tiwari, Aviral & Shahbaz, Muhammad, 2011. "Does Defence Spending Stimulate Economic Growth in India?," MPRA Paper 30880, University Library of Munich, Germany, revised 18 Apr 2011.
    6. repec:ipg:wpaper:2014-380 is not listed on IDEAS
    7. Tang, Chor-Foon & Lau, Evan, 2011. "The Behaviour of Disaggregated Public Expenditures and Income in Malaysia," Review of Applied Economics, Lincoln University, Department of Financial and Business Systems, vol. 7(1-2), pages 1-13, March.

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