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Guns and growth around the globe

Author

Listed:
  • Michael Ward
  • Mohan Penubarti
  • Jordin Cohen
  • Corey Lofdahl

Abstract

A model of direct and indirect linkages between defense outlays and economic output is developed and applied to approximately 100 countries. We illustrate that there is a positive linkage between military spending programs and economic productivity in most countries of the world. In addition, we find generally positive externalities from the military sector into the civilian sectors of the economy. Importantly, we find that the opportunity costs associated with military spending are considerable and that civilian investments generally produce greater economic benefits than military ones.

Suggested Citation

  • Michael Ward & Mohan Penubarti & Jordin Cohen & Corey Lofdahl, 1995. "Guns and growth around the globe," International Interactions, Taylor & Francis Journals, vol. 21(2), pages 181-201.
    • Handle: RePEc:taf:ginixx:v:21:y:1995:i:2:p:181-201
    DOI: 10.1080/03050629508434865
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    Cited by:

    1. Uk Heo, 1998. "Modeling the Defense-Growth Relationship around the Globe," Journal of Conflict Resolution, Peace Science Society (International), vol. 42(5), pages 637-657, October.
    2. Uk Heo & Min Ye, 2016. "Defense Spending and Economic Growth around the Globe: The Direct and Indirect Link," International Interactions, Taylor & Francis Journals, vol. 42(5), pages 774-796, October.
    3. J. Paul Dunne & Ron Smith & Dirk Willenbockel, 2005. "Models Of Military Expenditure And Growth: A Critical Review," Defence and Peace Economics, Taylor & Francis Journals, vol. 16(6), pages 449-461.
    4. Alexamder, W.R. & Hansen, P. Author-Emai, 2004. "A Criritique of the Multi-Sector Model of the Effects of Military Spending on Economic Growth," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 4(2).

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