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Defense spending and investment in the United States

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  • H. SONMEZ ATESOGLU

Abstract

Effects of defense spending on investment in the United States are examined. Findings reveal that there is a positive cointegration relation between defense spending and investment. Findings do not indicate a tradeoff between defense spending and investment. Nondefense government spending has a greater positive effect on investment compared to defense spending. The results suggest that the anticipated rise in defense spending during the first decade of the twenty-first century should promote investment and thereby enhance capital accumulation and economic growth.

Suggested Citation

  • H. Sonmez Atesoglu, 2004. "Defense spending and investment in the United States," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 27(1), pages 163-170.
    • Handle: RePEc:mes:postke:v:27:y:2004:i:1:p:163-170
    DOI: 10.1080/01603477.2004.11051425
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    Citations

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    Cited by:

    1. J Paul Dunne, 2011. "Military Keynesianism: An Assessment," Working Papers 1106, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
    2. Hou Na & Chen Bo, 2014. "Military Spending and Economic Growth in An Augmented Solow Model: A Panel Data Investigation for OECD Countries," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 20(3), pages 395-409, August.
    3. Efayena Obukohwo Oba & Olele Enoh Hilda, 2024. "Analysis of the Relationship Between Military Expenditure and Investment in the Economic Community of West African States: A Heterogeneous Panel Data Approach," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 34(4), pages 58-77.
    4. Malizard, Julien, 2015. "Does military expenditure crowd out private investment? A disaggregated perspective for the case of France," Economic Modelling, Elsevier, vol. 46(C), pages 44-52.
    5. Rukhsana Kalim & Muhammad Shahid Hassan, 2014. "Public Defense Spending and Poverty in Pakistan," Hacienda Pública Española / Review of Public Economics, IEF, vol. 211(4), pages 93-115, December.
    6. Chad R. Wilkerson & Megan D. Williams, 2008. "How is the rise in national defense spending affecting the Tenth District economy?," Economic Review, Federal Reserve Bank of Kansas City, vol. 93(Q II), pages 49-79.
    7. Christos Kollias & Suzanna-Maria Paleologou, 2019. "Military spending, economic growth and investment: a disaggregated analysis by income group," Empirical Economics, Springer, vol. 56(3), pages 935-958, March.
    8. H. Sonmez Atesoglu, 2009. "Defense Spending And Aggregate Output In The United States," Defence and Peace Economics, Taylor & Francis Journals, vol. 20(1), pages 21-26.
    9. Kollias Christos & Paleologou Suzanna-Maria & Tzeremes Panayiotis, 2020. "Defence Spending and Unemployment in the USA: Disaggregated Analysis by Gender and Age Groups," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 26(2), pages 1-13, May.
    10. Nimonka Bayale & Babatunde Mohamed Sanny Gado & Niim‐Bénoua Nahum Sambieni & Komla Kuma Esobiyu Tchala, 2024. "Dépenses militaires et croissance économique dans l'UEMOA: une analyse des effets de seuil et des canaux de transmission," African Development Review, African Development Bank, vol. 36(1), pages 41-54, March.

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