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|標題:||Military expenditure and economic growth across different groups: A dynamic panel Granger-causality approach||作者:||Chang, H.C.
|關鍵字:||Military expenditure;Economic growth;Dynamic panel data;GMM;less-developed-countries;european-union;defense expenditures;government size;peace-dividend;cross-section;models;tests;nexus;time||Project:||Economic Modelling||期刊/報告no：:||Economic Modelling, Volume 28, Issue 6, Page(s) 2416-2423.||摘要:||
Applying GMM (Arellano and Bond, 1991) to panel data of 90 countries spanning over 1992-2006, this paper explores possible relationships between military expenditure and economic growth. Based on the definitions of income levels by the World Bank - high, middle and low - our results indicate military spending leads negatively economic growth for the panels of low income countries with a marginally significance level of 10%. Of four different regional panels (Africa. Europe, the Middle East-South Asia and Pacific Rim), a negative but stronger (5% significance level) causal relationship from military expenditure to economic growth is found for the Europe and Middle East-South Asia regions. (C) 2011 Elsevier B.V. All rights reserved.
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