Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/45498
標題: Do defence expenditures spur GDP? A panel analysis from OECD and non-OECD countries
作者: Lee, C.C.
李建強
Chen, S.T.
關鍵字: defence expenditure
GDP
panel cointegration
causality relationship
finite-sample properties
economic-growth
cointegration tests
causal-analysis
unit-root
heterogeneous panels
military expenditure
turkey
inference
taiwan
期刊/報告no:: Defence and Peace Economics, Volume 18, Issue 3, Page(s) 265-280.
摘要: This paper empirically re-examines the long-run co-movements and the causal relationships between GDP and defence expenditures in a multivariate model with real defence expenditure per capita (ME), real GDP per capita (GDP), and real capital stock per capita (K). We apply the view of the aggregate production function to construct the empirical model. Using up-to-date data for 27 OECD countries and 62 non-OECD countries for the 1988 - 2003 period, we combine cross-sectional and time series data to re-investigate the relationship between GDP and ME. Previous studies using time series data may have yielded misleading results on account of the short time span of typical datasets. By contrast, we use recently developed panel unit root tests and heterogeneous panel cointegration tests, and conclude that there is fairly strong evidence in favour of the hypothesis of a long-run equilibrium relationship between GDP and ME. The long-run panel regression parameter results, such as the fully modified OLS, indicate that a positive relationship between GDP and ME only holds for OECD countries, whereas a negative relationship from ME to GDP only exists in non-OECD countries under examination and in the panel as a whole. Furthermore, by implementing the dynamic panel-based error correction model, we determine that GDP and ME lack short-run causalities, but do show long-run bidirectional causalities in both OECD and non-OECD countries.
URI: http://hdl.handle.net/11455/45498
ISSN: 1024-2694
文章連結: http://dx.doi.org/10.1080/10242690500452706
Appears in Collections:應用經濟學系

文件中的檔案:

取得全文請前往華藝線上圖書館



Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.