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Military Spending And Economic Growth In Sri Lanka: A Time Series Analysis

  • Albert Wijeweera
  • Matthew Webb
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    In this paper, we employ a VAR analysis to examine the nexus between military spending and economic growth in Sri Lanka which, due to the civil war there, has witnessed a significant increase in military spending over the last three decades while also recording healthy economic growth. The study finds that, compared with non-military spending, military spending exerts only a minimal positive impact on real GDP. Over a 10-year period, a 1% increase in non-military spending increases GDP by 1.6%. In contrast, military spending only increases GDP by 0.05%, suggesting that the economic benefits for Sri Lanka from a sustained peace may be considerable.

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    File URL: http://www.tandfonline.com/doi/abs/10.1080/10242690902868301
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    Article provided by Taylor & Francis Journals in its journal Defence and Peace Economics.

    Volume (Year): 20 (2009)
    Issue (Month): 6 ()
    Pages: 499-508

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    Handle: RePEc:taf:defpea:v:20:y:2009:i:6:p:499-508
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