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Measuring the Effects of Military Spending: Cross Sections or Time Series?

In: The Economics of International Security

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Abstract

Starting with the work of Benoit (1973), a large literature has developed providing econometric estimates of the economic effects of military spending. Currently a very large variety of conflicting results is available: see, for example, the reviews by Chan (1985) and Grobar and Porter (1989). This disparity has many causes, including differences in sample, source of data, theoretical specification, estimation method and functional form. But one source of disparity that has been much emphasized in the literature is the contrast between the results obtained from cross-section and time-series (longitudinal) studies. This chapter examines the relation between cross-section and time-series estimators, identifies the sources of disparity and discusses the relative advantages of each for measuring the economic effects of military expenditure. It also discusses the properties of a third procedure, pooling the data.

Suggested Citation

  • Ron Smith, 1994. "Measuring the Effects of Military Spending: Cross Sections or Time Series?," Palgrave Macmillan Books, in: Manas Chatterji & Henk Jager & Annemarie Rima (ed.), The Economics of International Security, chapter 22, pages 232-244, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-23695-4_22
    DOI: 10.1007/978-1-349-23695-4_22
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    Cited by:

    1. Innocent.U. Duru & Millicent Adanne Eze & Bartholomew.O.N. Okafor & Abubakar Yusuf & Lawrence.O. Ede & Abubakar Sadiq Saleh, 2021. "Military Outlay and Economic Growth: The Scenarios of Lake Chad Basin Countries of the Republic of Chad and Nigeria," Growth, Asian Online Journal Publishing Group, vol. 8(1), pages 12-26.

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