Yang, Albert J.F.; Trumbull, William N.; Yang, Chin Wei; … - In: Defence and Peace Economics 22 (2011) 4, pp. 449-457
The main objective of the paper is to decipher the military expenditure--economic growth relationship, taking the level of economic development (income) into consideration. Our findings suggest the following: (i) military expenditure has a significantly negative relationship to economic growth...