Military Spending and Economic Output: A Decomposition Analysis of the US Military Budget

Emmanouilidis, Kyriakos

doi:10.1080/10242694.2022.2145717

Defence and Peace Economics

2022

DOI: 10.1080/10242694.2022.2145717

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Military Spending and Economic Output: A Decomposition Analysis of the US Military Budget

Kyriakos Emmanouilidis¹

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2024

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Cited by 2 publications

References 79 publications

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How special economic zones drive sustainable development in Pakistan: insights from a novel dynamic autoregressive distributed lag simulation

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How special economic zones drive sustainable development in Pakistan: insights from a novel dynamic autoregressive distributed lag simulation

Hussain,

Jian,

Khan

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Environ Dev Sustain

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Military Outlays and Economic Growth: A Nonlinear Disaggregated Analysis for a Developed Economy

Tsitouras,

Tsounis

2024

Peace Economics, Peace Science and Public Policy

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There is a dearth of comprehensive studies examining the compositional and asymmetric effects of defence spending on simultaneous economic growth. This study uses the Nonlinear Autoregressive Distributed Lag (NARDL) approach to analyse how disaggregated defence spending affects economic growth in Greece in the short and long term. The results hold significant theoretical and practical policy implications. First, military spending boosts economic growth in the short term but hampers it in the long run. Second, the long-term effects of positive and negative defence spending shocks are distinct, with positive shocks more detrimental to economic growth than the benefits of negative shocks. Finally, our study reveals that personnel expenditures have the most significant and enduring effects on economic growth compared to other military spending categories. Based on these results, Greece should adopt a new defence doctrine that relies on extensive personnel reserves, prioritises state intelligence and production technology, and promotes domestic military equipment over expensive foreign options.

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Military Spending and Economic Output: A Decomposition Analysis of the US Military Budget

Cited by 2 publications

References 79 publications

How special economic zones drive sustainable development in Pakistan: insights from a novel dynamic autoregressive distributed lag simulation

How special economic zones drive sustainable development in Pakistan: insights from a novel dynamic autoregressive distributed lag simulation

Military Outlays and Economic Growth: A Nonlinear Disaggregated Analysis for a Developed Economy

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