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Military Expenditure and Development in Latin America

In: Arming the South

Author

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  • Thomas Scheetz

Abstract

Often, there is an unwritten presupposition present in econometric studies dealing with the relation between a country’s military expenditure and its economic growth. When military expenditure is found to have a negative effect on the economy, as I find in my experience in Latin America, it is taken as confirmation that the military per se are always deleterious to growth. Mutatis mutandis, the same could be said for researchers who have found a positive relation between military expenditure and the economy. In this chapter, I offer a nuanced interpretation of research findings, one that relates to the correctness of a government’s policy. I suggest that if models are appropriately specified, military expenditure’s positive (or negative) correlation with growth depends on policy-makers’ “getting defense right” (or wrong) in terms of the military’s mission and the resultant force deployment. These are what really cause a positive or negative effect of military spending on the economy.

Suggested Citation

  • Thomas Scheetz, 2002. "Military Expenditure and Development in Latin America," Palgrave Macmillan Books, in: Jurgen Brauer & J. Paul Dunne (ed.), Arming the South, chapter 3, pages 51-71, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-50125-6_4
    DOI: 10.1057/9780230501256_4
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    Cited by:

    1. Saba Charles Shaaba, 2021. "Convergence or Divergence Patterns in Global Defence Spending: Further Evidence from a Nonlinear Single Factor Model," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 27(1), pages 51-90, February.
    2. Rabia Aslam, 2007. "Measuring The Peace Dividend: Evidence From Developing Economies," Defence and Peace Economics, Taylor & Francis Journals, vol. 18(1), pages 39-52.
    3. Dietrich Fischer & Jurgen Brauer, 2003. "Twenty questions for peace economics: A research agenda," Defence and Peace Economics, Taylor & Francis Journals, vol. 14(3), pages 223-236.

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