| ID | 137930 |
| Title Proper | Effect of military expenditure on stock market development |
| Other Title Information | panel evidence from system GMM estimates |
| Language | ENG |
| Author | Solarin, Sakiru Adebola ; Sahu, Pritish Kumar |
| Summary / Abstract (Note) | This paper examines the impact of military expenditure on stock market development in 36 countries over the period 1989–2010. Within a panel framework, the system GMM estimates is utilised to test the relationship with an array of control variables. We augment the traditional measure of military expenditure–military burden, with a newly constructed comprehensive index – Global Militarisation Index. Overall, the results show that military spending has a negative and significant effect on stock market performance in the selected countries. |
| `In' analytical Note | Defence and Peace Economics Vol. 26, No.3; Jun 2015: p.271–287 |
| Journal Source | Defence and Peace Economics Vol: 26 No 3 |
| Key Words | Military Expenditure ; System GMM Estimates ; Stock Markets |