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Navigating Financial Turmoil: Strategies for Defense Spending by NATO Alliance States in the 21st Century

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  • Adrian Iura

    ("Lucian Blaga" University of Sibiu, Romania)

Abstract

In the 21st century, defense financing is a significant challenge in the context of evolving security threats and budgetary constraints. In the context of modern warfare, nations have certain commitments to allocate as much financial and substantial resources as possible to maintain robust defense capabilities. In the first part, I will highlight the conflicts that have succeeded in convincing individual states, both the NATO alliance and globally, to invest some of their financial resources in defense. In the second part, I will briefly outline the ways in which a state can fund its defense budget even though there are economic constraints, technology tends to evolve, but also the geopolitical sphere is constantly changing. In the third part, I will highlight the principle on which the Euro-Atlantic alliance should be based, the principle of the "3E", and I will represent the spending that has taken place within the NATO alliance.

Suggested Citation

  • Adrian Iura, 2024. "Navigating Financial Turmoil: Strategies for Defense Spending by NATO Alliance States in the 21st Century," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 622-628, August.
    • Handle: RePEc:ovi:oviste:v:xxiv:y:2024:i:1:p:622-628
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    More about this item

    Keywords

    financing; Euro-Atlantic alliance; economy; fiscal effort; political commitments;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General

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