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| 1 |
ID:
090389
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2009.
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| Summary/Abstract |
In the last 15 years, terrorist activity in the Basque Country has substantially decreased and strategies have changed. Whilst the type of killings has become more specialised (politicians, reporters, etc.), a new phenomenon based on urban guerrilla tactics, and called in Basque 'kale borroka' (street fighting), has emerged, creating an atmosphere of violence in the streets. The contribution of this paper is threefold. First, we create a daily measure of the level of violence in the area. Second, we examine if police action and the repressive policy measures adopted by the government since 2001 have been effective in reducing the intensity of violence. Third, we investigate whether the level of violence has had an effect on the stock market index in the Basque Country. The results, based on daily data from 1 July 2001 to 15 November 2005, suggest that the only effective measure to reduce violence was the banning of Herri Batasuna (HB), the radical party close to ETA supporters. Moreover, there was a decrease in the stock market index as a consequence of the violence in the area during the period under analysis.
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| 2 |
ID:
090391
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2009.
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| Summary/Abstract |
I demonstrate the existence of two sources of contestability in the military aerospace market, within producing and export countries, through the State's triple role as unique buyer, regulator and seller. For the producing countries, I introduce the new concept, 'sovereignty price'; that is, the profit a State agrees to grant to its defence firms to perpetuate their domestic activities. This subjective, evolutionary concept provides a dynamic character to the theory of contestable markets. Moreover, I show that contestability is more effective than antitrust policies and a solution of the cost disease. Empirical cases are shown to confirm the theoretical analysis.
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| 3 |
ID:
090392
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2009.
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| Summary/Abstract |
This paper tests the relationship between military expenditure and economic growth by including the impact of the share of military and civilian components of government expenditure in an economic growth model with endogenous technology. In this framework, we empirically consider the hypothesis of a non-linear effect of military expenditure on economic growth. Differences between the costs and benefits of the defence sector has traditionally explained the non-linear relationship suggesting that shocks to insecurity may also be a source of non-linearity as they determine a re-allocative effect within government expenditure. While parametric partial correlations are in line with empirical findings, the robustness of estimations is tested by using a non-parametric approach. The negative relationship between military expenditure and growth in countries with high levels of military burden predicted by theory becomes significant only after including a proxy for re-allocative effects in the growth equation.
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| 4 |
ID:
090384
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2009.
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| Summary/Abstract |
This paper investigates the empirical relationships between military expenditure and unemployment rates. A set of global panel data on 46 countries is utilized, and a panel data version of the Granger causality test is applied. The results indicate that there is little evidence of the causality running from unemployment to military expenditure regardless of how we measure military spending and determine group countries. In contrast, the causality running from military expenditure to unemployment receives empirical support if military expenditure is measured in terms of its share of GDP and if data are taken from middle- and low-income countries or non-OECD countries.
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| 5 |
ID:
090395
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| Publication |
2009.
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| Summary/Abstract |
Defence offsets rank as one of the most important and controversial topics within the broad field of defence economics. Arms vendors are likely to view offsetting investment as a distraction, fearful of its potential to hurt the bottom line. By contrast, policymakers in the arms purchasing countries see offsets as an opportunity to extract technology transfer, as well as employment, investment and export sales opportunities. Establishing the actual impact of offsets, however, is not easy. The subject is shrouded in secrecy and myth, with anecdote and generalisation pervading even the intellectual press. This paper seeks to break the mould by offering an empirical case study of the role of offsets in Malaysian defence industrialisation.
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| 6 |
ID:
090387
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