A panel data analysis of the nexus between defence spending and growth in the European Union (Journal article)

Kollias, C./ Mylonidis, N./ Paleologou, S. M.

The nexus between economic growth and military expenditure has attracted considerable attention and has been the subject of extensive theoretical and empirical work. Given the move towards the development of a Common European Security and Defence Policy (CESDP), this paper, using panel data analysis, addresses the causal ordering issue between growth and defence spending in the case of the European Union (EU15). Results reported herein suggest the presence of a positive feedback between growth and military expenditure in the long run and a positive impact of the latter on growth in the short run.
Institution and School/Department of submitter: Πανεπιστήμιο Ιωαννίνων. Σχολή Οικονομικών και Κοινωνικών Επιστημών. Τμήμα Οικονομικών Επιστημών
Keywords: military expenditure,growth,panel data,causality,european union,developing-countries,policy
URI: http://olympias.lib.uoi.gr/jspui/handle/123456789/11291
ISSN: 1024-2694
Link: <Go to ISI>://000244563800005
Publisher: Taylor & Francis
Appears in Collections:Άρθρα σε επιστημονικά περιοδικά ( Ανοικτά)

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