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ID: 076430

Panel data analysis of the nexus between defence spending and g / Kollias, Christos; Mylonidis, Nikolaos; Paleologou, Suzanna-Maria

Kollias, Christos	Journal Article
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2007.

Summary/Abstract

The nexus between economic growth and military expenditure has attracted considerable attention and has been the subject of extensive theoretical and empirical work. Given the move towards the development of a Common European Security and Defence Policy (CESDP), this paper, using panel data analysis, addresses the causal ordering issue between growth and defence spending in the case of the European Union (EU15). Results reported herein suggest the presence of a positive feedback between growth and military expenditure in the long run and a positive impact of the latter on growth in the short run.

Key Words

European Union ; Military Expenditure ; Growth, Panel data ; Causality

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ID: 083240

Revisiting the nexus between military spending and growth in th / Mylonidis, Nikolaos

Mylonidis, Nikolaos	Journal Article
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Publication

2008.

Summary/Abstract

This paper focuses on the influence of military spending on European economic growth. The estimated regressions are based on Barro's (1991) growth model, which controls for economic institutional variation across countries. The cross-section and panel data analyses cover the period 1960-2000. The empirical findings indicate that military spending has an overall net negative influence on economic growth. Furthermore, the magnitude of this negative impact tends to increase over time, as cross-section regression results indicate. Given the development of a Common European Security and Defence Policy (CESDP), these findings suggest that enhanced defence spending may hinder European economic growth.

Key Words

European Union ; Military Expenditure ; Economic Growth

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