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Nexus between defence spending, economic growth and development: evidence from a disaggregated panel data analysis

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  • Charles Shaaba Saba

    (University of Johannesburg)

  • Nicholas Ngepah

    (University of Johannesburg)

Abstract

This study investigates the causal effect relationship between defence spending, economic growth and development in three regions for the period 1990–2018. It further estimates the trivariate impacts of defence spending, growth and development in three regions. To measure growth, we used real gross domestic product as the proxy, while economic development was measured by the Human Development Index. The empirical results suggest the existence of a bidirectional long-run relationship between defence spending, economic growth and development in the entire sample and the three regions of sub-Saharan Africa, the Middle East and North Africa, and Latin America and the Caribbean countries. The causality results reveal that there is feedback causality between defence spending, economic growth and development. There is thus a need to promote holistic policies to reduce the defence spending necessary for the enhancement of inclusive economic growth and development in these three regions. A decrease in defence spending in the three regions will encourage aggregate output and the standard of living to increase, and move simultaneously in the same direction.

Suggested Citation

  • 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.
    • Handle: RePEc:kap:ecopln:v:55:y:2022:i:1:d:10.1007_s10644-020-09311-7
    DOI: 10.1007/s10644-020-09311-7
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    More about this item

    Keywords

    Defence spending; Economic growth and development; Panel cointegration; Panel causality; Panel vector autoregressive (PVAR);
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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