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An analysis of defence spending in Spain: A long-run approach

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  • Maria-Dolores Gadea
  • Antonio Montanes

Abstract

This paper analyses the behaviour of Spanish public spending on defence for the period 1850-1995. Through the use of recent cointegration and unit root techniques, we demonstrate the existence of an equilibrium relationship between this variable and Spanish GDP during the years in question. Furthermore, the income elasticity of this relationship is shown to be equal to one. Finally, the detection and removal of a number of additive outliers, all of them related to different periods of military conflict, appears to be vital in obtaining these results.

Suggested Citation

  • Maria-Dolores Gadea & Antonio Montanes, 2001. "An analysis of defence spending in Spain: A long-run approach," Defence and Peace Economics, Taylor & Francis Journals, vol. 12(5), pages 369-393.
    • Handle: RePEc:taf:defpea:v:12:y:2001:i:5:p:369-393
    DOI: 10.1080/10430710108404995
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    References listed on IDEAS

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    1. Sandler, Todd & Hartley, Keith, 1999. "The Political Economy of Nato: Past, Present, and into the 21st Century," Staff General Research Papers Archive 1441, Iowa State University, Department of Economics.
    2. Sandler,Todd & Hartley,Keith, 1995. "The Economics of Defense," Cambridge Books, Cambridge University Press, number 9780521447287.
    3. Keith Hartley & Todd Sandler (ed.), 1995. "Handbook of Defense Economics," Handbook of Defense Economics, Elsevier, edition 1, volume 1, number 1.
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    Cited by:

    1. Kyriakos Emmanouilidis & Christos Karpetis, 2020. "The Defense–Growth Nexus: A Review of Time Series Methods and Empirical Results," Defence and Peace Economics, Taylor & Francis Journals, vol. 31(1), pages 86-104, January.
    2. Claudia Pérez- Forniés & Mª Dolores Gadea & Eva Pardos, 2004. "Gasto en defensa y renta en los países de la Alianza Atlántica (1960-2002)," Hacienda Pública Española / Review of Public Economics, IEF, vol. 170(3), pages 137-153, september.

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