The twenty-first century is now being shaped by a multipolar system characterized by techno-nationalism and a post-Bretton Woods order. In the face of a rapidly evolving digital era, international cooperation will be critical to ensuring peace and security. Information sharing, expert...

This paper employs the mixed frequency vector autoregression (MF-VAR) to discuss the causal link between crude oil dependence and military expenditure in China. The empirical results demonstrate that the crude oil dependence Granger causes military expenditure and accounts for 66.8% of the...

We introduce a military sector and external security considerations into a real-businesscycle setup with a public sector. We calibrate the model to Bulgarian data for the period following the introduction of the currency board arrangement (1999-2018). We investigate the quantitative importance...

When investing in research and development (R&D), institutions must decide whether to take a top-down approach - soliciting a particular technology - or a bottom-up approach in which innovators suggest ideas. This paper examines a reform to the U.S. Air Force Small Business Innovation Research...

The aim of the article is to identify possible "follower" behaviour; it means to reveal countries following the average military burden of North Atlantic Treaty Organization (NATO) member states. To analyse the relationship between military expenditure of NATO member states and selected...

The issue of security and safety i s a fundamental condition for stable economic trends. Military expenditure can be a very powerful tool for a rapid economic growth. The paper examines the long-run relationship between military expenditure and economic growth in the selected Balkan countries,...

This paper examines the economic effects of public spending onGreek economic growth over the period 1842-1938. In less devel-oped countries, such as late-19th- and early-20th-century Greece, pub-lic spending played an important role in the construction of keyinfrastructures and the provision of...

Military expenditures significantly affect the relationship between the risk of civil conflict outbreak and natural resources. We show that a significant positive effect of natural resource rents on the risk of civil conflict outbreak is limited to countries with low military expenditures. In...

This study examines the convergence in military expenditure and economic growth for a panel of 35 African countries between 1990 and 2015. We employ the Phillips and Sul methodology to achieve our objective. Overall, the results at Africa level reveal no evidence of convergence in military...

This study complements existing literature by investigating how military expenditure can modulate the effect of terrorism externalities on tourism. The geographical and temporal scopes are 163 countries and the period 2010-2015. The empirical evidence is based on negative binomial regressions....

While the literature has documented negative effects of conflict on educational outcomes, there is little evidence on the effect of conflict termination. We show how the permanent ceasefire declared by FARC's insurgency during peace negotiations with the Colombian government caused a...

The aim of this working paper is to explore the domain of aerial warfare through the lens of economic thought, drawing upon rudimentary but salient economic perspectives to discuss the nature of air forces, aerial warfare, and aerospace sectors, particularly in light of the emergence of the...

This paper shows that trust-building characteristics of fund managers affect purchase decisions of mutual fund investors. We exploit variation in fund managers' prior affiliations with the well-trusted U.S. military institution and relate it to fund flows. Results show that funds with...

Accountability for decisions to go to war has evolved in particularly since the 2003 Iraq War, both in a democratic dimension, involving parliaments in deployment decisions, and in a rule of law dimension, enforced by courts. Both forms of accountability lead to a rebalancing of the powers of...

Current thinking on the causes of war focuses on bargaining strategies, resources on hand, and the ability to make transfers as drivers of conflict. This view ignores the important role access to credit can play in shaping war and peace. We explore how financial markets impact the potential for...

This study investigates the relationship between external debt and military spending in case of India over the period of 1970–2012. In doing so, we have applied the structural break unit root tests to examine stationarity properties of the variables. The Auto-Regressive Distributed Lag (ARDL)...

This contribution discusses the growing importance of cyber attacks directed at the public sphere and the crucial role of non-state actors in cyber attacks from a perspective of just war theory. Going back to Grotius' and Vitoria's seminal teachings on international law, the article makes the...

We study the effect of exposure to political instability in-utero on health at birth. We exploit the coup d'état that took place in Spain on February 23, 1981. Although short-lived and unsuccessful, the event generated stress and fear among the population, especially in areas that had suffered...

The article presents the use of the ARDL model to identify military expenditure determinants of the Baltic States (Lithuania, Latvia, and Estonia). Factors influencing military expenditure include the variables characterizing the economic environment of the analyzed countries (GDP per Capita,...

COVID-19 hat eine globale Wirtschaftskrise ausgelöst. Diese belastet Staatshaushalte und erhöht den politischen Druck auf globale Verteidigungsausgaben. Transnationale Lieferketten, die auf umfangreichen Transportkapazitäten und reibungslosem Warenverkehr beruhen, zeigten in dieser Krise ihre...

Purpose - The relationship between military expenditure and economic growth is complex. The purpose of this paper is to examine this relationship in India. Design/methodology/approach - The design of this study is descriptive in the theoretical part, and quantitative in the applied one. The...

Militärische Interventionen werden zunehmend durch Sanktionen ersetzt, um außenpolitische Ziele der globalen Sicherheit zu verfolgen. Beide Mittel verursachen ökonomische Kosten. Anhand des Gravitationsmodells des internationalen Handels und eines allgemeinen Gleichgewichtsmodells...

This study examines the dynamic relationship between democracy and the military in more than 40 developing countries from 1990 to 2017. We investigate the dynamic interaction between democracy and military institutions using a panel vector autoregressive model and impulse response functions as...

This study evaluates the impact of expenditure compositions on economic growth in Afghanistan. The data was collected from the World Bank and Ministry of Finance using a period of 2004 to 2019. The gross domestic product was stated as dependent variable and public expenditure compositions were...

Purpose: In this study, we contribute to the existing literature by examining the relationship between military spending changes and economic growth in China over the period 1995 to 2018 using granger causality test. We would also explore short and long run relationship between GDP growth and...

Researchers who have been concerned with the economic implications of military spending have mostly concentrated on its impact on economic growth, corruption, real exchange rate and inflation. In this paper we investigate the impact of military spending on black market premium, an area that has...

The Nigeria budgetary practices have been characterised with indiscipline and flagrant disregards to budgetary rules and procedures. This culture has been substantially attributed to the long years of military rule. This paper juxtaposes military and civilian regimes in Nigeria with respect to...

Multicollinearity is one of the major methodological problems in the study of the guns‐growth trade-off. In this paper, we use ridge regression to separate the effects of individual variables influencing economic growth in the United States. Ridge is not a new method, but to the best of our...

In a series of articles published in the Fall 1990 issue of Defence Economics Alexander (1990), Atesoglu and Mueller (1990) and Huang and Mintz (1990) have all specified and empirically estimated defence‐growth models based on a neoclassical production function. We now isolate the externality...

In 1973 Emile Benoit published a seminal study which suggested that defence spending stimulated economic growth in Third World countries. His conclusion was based on a cross-national analysis of data for 44 developing countries over five years (1960–65). Specifically, Benoit found that after...

Despite the proliferation of studies on the impact of military spending on economic growth, it is still not known whether defense spending hinders or promotes growth. Most analysts attribute the lack of consistent/robust findings to three problems: the lack of a sound theory of defense-growth...