Military Expenditure , Threats , and Growth * March 2003

@inproceedings{Aizenman2003MilitaryE,
  title={Military Expenditure , Threats , and Growth * March 2003},
  author={Joshua Aizenman and Reuven Glick},
  year={2003}
}
This paper clarifies one of the puzzling results of the economic growth literature: the impact of military expenditure is frequently found to be non-significant or negative, yet most countries spend a large fraction of their GDP on defense and the military. We start by empirical evaluation of the non-linear interactions between military expenditure, external threats, corruption, and other relevant controls. While growth falls with higher levels of military spending, given the values of the… CONTINUE READING

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