Kollias, Christos; Sirakoulis, Kleanthis - In: Defence and Peace Economics 13 (2002) 2, pp. 137-143
The paper draws on the demand for arms imports model of Levine and Smith (1995, 1997) using stochastic processes of the birth-death type in steady state. It assumes two antagonistic regional players engaged in an armaments race satisfying their demand for military hardware through imports from...