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Armament and Development: An Empirical Assessment of the Impact of Military Spending on Economic Growth in Developing Countries

In: The Economics of International Security

Author

Listed:
  • Alex Mintz
  • Randolph T. Stevenson

Abstract

In 1973 Emile Benoit published a seminal study which suggested that defence spending stimulated economic growth in Third World countries. His conclusion was based on a cross-national analysis of data for 44 developing countries over five years (1960–65). Specifically, Benoit found that after controlling for the effects of investment and bilateral economic assistance, the effect of defence spending (measured as a percentage of GNP) on the growth rate of civilian GNP was positive. Despite the fact that the results from the analysis of a longer time period (1950–65) did not confirm a positive relationship, Benoit concluded that a positive relationship exists. His results, however, have been widely challenged (see Chan, 1985, for a review of Benoit’s critics).

Suggested Citation

  • Alex Mintz & Randolph T. Stevenson, 1994. "Armament and Development: An Empirical Assessment of the Impact of Military Spending on Economic Growth in Developing Countries," Palgrave Macmillan Books, in: Manas Chatterji & Henk Jager & Annemarie Rima (ed.), The Economics of International Security, chapter 23, pages 245-253, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-23695-4_23
    DOI: 10.1007/978-1-349-23695-4_23
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    Cited by:

    1. Trish Kelly & Meenakshi Rishi, 2003. "An empirical study of the spin-off effects of military spending," Defence and Peace Economics, Taylor & Francis Journals, vol. 14(1), pages 1-17.

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