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Military spending: A perspective on the restructuring dynamics of the defense sector

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Abstract

This article is articulated in two sections. In the first-one we try to explain the dynamics of military spending and others social expenditures in the period 1988-2010 for the United States. According to empirical data we support the argument that there is a remarkable trade-off in the allocation of public spending, because, often, the increase in military expenditures was to detriment of those for the education, social security and health. In the second section we analyze the transition from the old "military industrial complex" to the new "military-security system" in the light of defense industry restructing. We focus in particular on the role of financialization and industrial concentration of the firms

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  • Eleonora Gentilucci, 2012. "Military spending: A perspective on the restructuring dynamics of the defense sector," Documents de travail du Centre d'Economie de la Sorbonne 12060, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    • Handle: RePEc:mse:cesdoc:12060
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    1. Malcolm Knight & Norman Loayza & Delano Villanueva, 1996. "The Peace Dividend: Military Spending Cuts and Economic Growth," IMF Staff Papers, Palgrave Macmillan, vol. 43(1), pages 1-37, March.
    2. David Gold, 1997. "Evaluating the trade-off between military spending and investment in the United States," Defence and Peace Economics, Taylor & Francis Journals, vol. 8(3), pages 251-266.
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    More about this item

    Keywords

    Military-industrial complex; industry concentration; defense sector; military expenditures; public spending; trade-off effect; financialization; industry restructuring; military-security system;
    All these keywords.

    JEL classification:

    • H - Public Economics
    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • L - Industrial Organization
    • N4 - Economic History - - Government, War, Law, International Relations, and Regulation
    • P - Political Economy and Comparative Economic Systems

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