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The effect of military expenditure on growth: an empirical synthesis

Author

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  • Sefa Awaworyi Churchill

    (RMIT University)

  • Siew Ling Yew

    (Monash University)

Abstract

Using a sample of 272 meta-observations drawn from 48 primary studies, this paper conducts a meta-analysis of the empirical literature that examines the impact of military expenditure on economic growth. We find that existing studies indicate growth-retarding effects of military expenditure. The results from the meta-regression analysis suggest that the effect size estimate is strongly influenced by study variations. Specifically, we find that underlying theoretical models, econometric specifications, and data type as well as data period are relevant factors that explain the heterogeneity in the military expenditure–growth literature. Results also show that positive effects of military expenditure on growth are more pronounced for developed countries than less developed countries.

Suggested Citation

  • Sefa Awaworyi Churchill & Siew Ling Yew, 2018. "The effect of military expenditure on growth: an empirical synthesis," Empirical Economics, Springer, vol. 55(3), pages 1357-1387, November.
  • Handle: RePEc:spr:empeco:v:55:y:2018:i:3:d:10.1007_s00181-017-1300-z
    DOI: 10.1007/s00181-017-1300-z
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    More about this item

    Keywords

    Military expenditure; Economic growth; Crowding out;
    All these keywords.

    JEL classification:

    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • O49 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy

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