Economics, Econometrics and Finance
4 years ago

Military spending boosts population growth but hinders savings in transition economies.

Applied Economics Quarterly
Military Expenditure, Economic Growth and Development in Transition Economies: A Panel VAR GMM Approach
Sotirios K. Bellos

Paper Summary

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The study looked at how military spending affects economic growth in 31 transition economies from 1985 to 2018. They used a method called Panel VAR GMM to analyze the data. The results showed that military spending can have both positive and negative effects on GDP growth, GDP per capita growth, and Industry Value Added growth. In most cases, military spending influences these economic factors, rather than the other way around. Interestingly, in Ex-Soviet Economies, military spending was linked to positive effects on economic growth. The study also found that military spending can impact population growth and schooling positively, but savings negatively.