Chang, Hsin-Chen; Huang, Bwo-Nung; Yang, Chin Wei - In: Economic Modelling 28 (2011) 6, pp. 2416-2423
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...
