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SYSTEM GMM ESTIMATES (3) answer(s).
 
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ID:   162554


Determinants of military expenditure and the role of globalisation in a cross-country analysis / Solarin, Sakiru Adebola   Journal Article
Solarin, Sakiru Adebola Journal Article
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Summary/Abstract Anecdotal evidence offers conflicting views on the impact of globalisation on military expenditure. We contribute to the existing literature by investigating the effect of globalisation on military expenditure in 82 countries for the period, 1989–2012. After introducing economic and strategic variables into the model, we utilise the dynamic panel generalised method of moments system to estimate the relationship in the variables. The empirical findings reveal that globalisation reduces both military burden and real military expenditure. The findings are consistent, irrespective of the globalisation indicator adopted. The policy implications of the results are explained.
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2
ID:   137930


Effect of military expenditure on stock market development: panel evidence from system GMM estimates / Solarin, Sakiru Adebola; Sahu, Pritish Kumar   Article
Solarin, Sakiru Adebola Article
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Summary/Abstract 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.
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3
ID:   120391


Military expenditure and economic growth in developing countrie: evidence form system Gmm estimates / Hou, Na; Chen, Bo   Journal Article
Hou, Na Journal Article
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Publication 2013.
Summary/Abstract The effect of military expenditure on economic growth in developing countries has been investigated by many empirical literatures. However, there is little consensus of that effect and the diversity seems to come from the use of different models and different estimators. This article applies the Augmented Solow Growth Model to examine the influence of military expenditure on economic growth for 35 developing countries over the period of 1975-2009. By using the system Generalized Method of Moments (GMM) estimators, empirical results indicate that defence has a negative and significant effect on economic growth in the sample countries.
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