Multilateral development banks are frequently accused of "defensive lending," the practice of extending new loans purely in order to ensure that existing loans are repaid. This paper empirically examine this hypothesis using data on lending by and repayments to the International Development...

Defense economics derives from and is embedded in the multi-dimensional array of issues each country must address when providing for its national security. Applying economic concepts and methods, it attempts to evaluate this great diversity of security related questions, and to understand how...