Defense spending and economic growth in Asian economies: A panel error-correction approach

Muzafar Shah, Habibullah and Law, Siong-Hook and Dayang-Affizzah, A.M. (2008) Defense spending and economic growth in Asian economies: A panel error-correction approach. Munich Personal RePEc Archive (12105). pp. 1-24. ISSN 2285-6803

[img]
Preview
PDF
DEFENSE SPENDING AND ECONOMIC GROWTH IN ASIAN ECONOMIES (abstract).pdf

Download (11kB) | Preview
Official URL: https://mpra.ub.uni-muenchen.de/12105/

Abstract

Hoping to contribute to the existing pool of literature, this paper examines the relationship between military expenditure and economic growth in selected Asian countries for the period 1989 to 2004. Our panel unit root test suggests that real GDP per capita and military expenditures are I (1) processes, while the Larsson et al. (2001) panel cointegration test indicates that economic growth and military expendirues are cointegrated. Finally, applying the panel error-correction technique proposed by Pesaran et al. (1999), our empirical results show that defense spending and economic growth in the Asian countries under the period of study are not related.

Item Type: Article
Uncontrolled Keywords: Military expenditure, Economic growth, Panel unit root, Panel cointegration, Panel error-correction, Asian economies, unimas, university, universiti, Borneo, Malaysia, Sarawak, Kuching, Samarahan, ipta, education, research, Universiti Malaysia Sarawak
Subjects: H Social Sciences > HB Economic Theory
Divisions: Academic Faculties, Institutes and Centres > Faculty of Economics and Business
Depositing User: Ab Rahim
Date Deposited: 01 Nov 2017 06:44
Last Modified: 01 Nov 2017 06:44
URI: http://ir.unimas.my/id/eprint/18358

Actions (For repository members only: login required)

View Item View Item