Abstract:This paper surveys some of the theoretical and econometric issues involved in estimating growth models that include military spending. In particular, it critically evaluates the commonly used Feder-Ram model, detailing its problems and limitations and suggesting a more acceptable theoretical approach. It also surveys the econometric issues involved in estimating these models and uses a panel of 28 countries study to evaluate the different approaches and to draw some suggestions for the development of future research. Comments welcome

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