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Military Spending, the Peace Dividend, and Fiscal Adjustment

Author

Listed:
  • Mr. Benedict J. Clements
  • Mr. Jerald A Schiff
  • Peter Debaere
  • Mr. Hamid R Davoodi

Abstract

The end of the Cold War has ushered in significant changes in worldwide military spending. This paper finds that the easing of (1) international tensions, (2) regional tensions, and (3) the existence of IMF-supported programs are related to lower military spending and a higher share of nonmilitary spending in total government outlays. These factors account for up to 66 percent, 26 percent, and 11 percent of the decline in military spending, respectively. Furthermore, fiscal adjustment has implied a larger cut in military spending of countries with IMF-supported programs.

Suggested Citation

  • Mr. Benedict J. Clements & Mr. Jerald A Schiff & Peter Debaere & Mr. Hamid R Davoodi, 1999. "Military Spending, the Peace Dividend, and Fiscal Adjustment," IMF Working Papers 1999/087, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1999/087
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    Citations

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    Cited by:

    1. Mohsen Bahmani-Oskooee & Gour Gobinda Goswami, 2005. "Military spending as another cause of the failure of the PPP," Applied Economics Letters, Taylor & Francis Journals, vol. 12(11), pages 663-667.
    2. Mohsen Bahmani-Oskooee & Gour Goswami, 2006. "Military spending and the black market premium in developing countries," Review of Social Economy, Taylor & Francis Journals, vol. 64(1), pages 77-91.
    3. Farzanegan, Mohammad Reza, 2017. "The impact of oil rents on military spending: Does corruption matter?," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168157, Verein für Socialpolitik / German Economic Association.

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