| ID | 155299 |
| Title Proper | Does military expenditure increase external debt? evidence from Asia |
| Language | ENG |
| Author | Feng, Yi ; Azam, Muhammad |
| Summary / Abstract (Note) | This article empirically explores the effect of military spending on external debt, using a sample of ten Asian countries over the years from 1990 to 2011. The Hausman’s test suggests that the random-effects model is preferable; however, both random-effects and fixed-effects models are used in this research. The empirical results show that the effect of military spending on external debt is positive, while the effects of foreign exchange reserves and of economic growth on external debt are negative. For developing countries caught in security dilemma, military expenditure often requires an increase in external debt, which may affect economic development negatively. |
| `In' analytical Note | Defence and Peace Economics Vol. 28, No.5; Oct 2017: p.550-567 |
| Journal Source | Defence and Peace Economics Vol: 28 No 5 |
| Key Words | Asia ; Military Spending ; Income ; Panel Data ; Foreign Exchange Reserves ; External Deb |