Military Expenditure and Investment in OECD Countries: Revisited

descriptionPublicationkeyboard_double_arrow_right Article 01 Dec 2014Publisher:Walter de Gruyter GmbHJournal:Peace Economics, Peace Science and Public Policy, volume 20, pages 621-630 (issn: 1079-2457, eissn: 1554-8597,

Authors: Na Hou; Bo Chen;

doi: 10.1515/peps-2014-0031

Military Expenditure and Investment in OECD Countries: Revisited

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Abstract

AbstractThis study examines the effects of military expenditure on investment in 13 selected OECD countries over the period of 1971–2012 by applying the Smith Demand-Side model and different estimation methodologies including panel data, cross section and time series estimation methods. Our empirical results reveal that military expenditure crowds out investment and that crowding-out effect lessens during the Post-Cold War period.

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Central University of Finance and Economics
China (People's Republic of)

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