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Military expenditure and economic growth: A survey

Author

Listed:
  • J. Paul Dunne

    (School of Economics, University of Cape Town, South Africa)

  • Nan Tian

    (School of Economics, University of Cape Town, South Africa)

Abstract

Until recently, a long-standing, impressively large, and growing literature on the effects of military expenditure on economic growth appeared to have failed to result in a scholarly consensus. But the availability of 20 more years of data since the thawing of the cold war has helped researchers to make progress in identifying any relation of military expenditure with economic factors. The literature is complex and difficult to summarize, with studies differing in their theoretical approach, in the empirical methods used, in the coverage of countries and time periods employed, and in their quality and statistical significance. This article extends and updates an earlier survey, now covering almost 170 studies. It finds that more recent studies provide stronger evidence of a negative effect of military expenditure on economic growth.

Suggested Citation

  • J. Paul Dunne & Nan Tian, 2013. "Military expenditure and economic growth: A survey," Economics of Peace and Security Journal, EPS Publishing, vol. 8(1), pages 5-11, April.
    • Handle: RePEc:epc:journl:v:8:y:2013:i:1:p:5-11
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    File URL: http://www.epsjournal.org.uk/index.php/EPSJ/article/view/143
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    More about this item

    Keywords

    Military expenditure; economic growth;

    JEL classification:

    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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