Lai, Ching-chong; Shieh, Jhy-yuan; Chang, Wen-Ya - In: Defence and Peace Economics 13 (2002) 3, pp. 179-186
This paper develops an endogenous growth model to examine the linkage between military expenditures and economic growth. We adopt the modeling strategy where both the supply side and the demand side effects of national defense are taken into considerations. Our result finds that a rise in...