An Empirical Investigation of External Debt - Military Expenditure Nexus in Bangladesh
The objective of this paper is to empirically investigate a two-way statistical relationship between the real external debt and real military expenditure in the context of Bangladesh. A time series co-integration and Granger causality tests have been employed from 1980 - 2009 for analysis. The empirical results support the bi-directional causality between the external debt and economic growth, while unidirectional causality runs from military spending to external debt.
Volume (Year): 15 (2012)
Issue (Month): 1 (June)
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