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Trends in the Political Economy of Military Expenditure. The Case of Europe

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  • Bran Alexandra-Carmen

    (Bucharest University of Economic Studies, Bucharest, Romania)

Abstract

In real terms, global military spending increased by 3.7% in 2022 to a record $2240 billion. The invasion of Ukraine by Russia played a significant role in the increase in spending, with military spending in Europe rising by 13% in the year – the highest yearly increase in total European spending since the conclusion of the Cold War. Significant increases in spending by Russia and Ukraine were primarily responsible for the remarkable gain, but several other European nations also increased their military budgets in 2022. This essay examines the impact of national choices regarding sovereignty, industrial issues, and strategic needs on procurement strategies, and then measures and discusses the changes and continuities in the European procurement process.

Suggested Citation

  • Bran Alexandra-Carmen, 2024. "Trends in the Political Economy of Military Expenditure. The Case of Europe," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 18(1), pages 459-468.
    • Handle: RePEc:vrs:poicbe:v:18:y:2024:i:1:p:459-468:n:1007
    DOI: 10.2478/picbe-2024-0040
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    References listed on IDEAS

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