This paper examines the effect of military expenditure on the profitability of the Greek economy for the 1962-1994 period. In the theoretical debate on the role of military expenditures they have alternatively been viewed either as a "burden on growth" (i.e. an unproductive drain of resources)...

The nexus between economic growth and military expenditure has attracted considerable attention and has been the subject of extensive theoretical and empirical work. Given the move towards the development of a Common European Security and Defence Policy (CESDP), this paper, using panel data...

This paper sets up a monetary endogenous growth model, and uses it to explain the ambiguous linkage between the military burden and the inflation rate observed in existing empirical studies. It is found that an expansion in the military burden has an ambiguous effect on the inflation rate...

Defence expenditures have both costs and benefits to the economy. The costs of defence expenditures are mainly emphasized as opportunity costs. On the other hand, defence spending may have growth-promoting potential benefits: a rise in defence spending may result in a higher aggregate demand,...

The present study examines the effects of military expenditure on growth in Peru in the period from 1970 to 1996. By using a Deger-type Simultaneous Equations Model it is possible to break up the net effect into supply- and demand-side influences. The former consist of positive externalities of...

The enlargement of the EU has implications for the national defence requirements and therefore national defence policy of European nations. In light of the freedom of movement of citizens between member states it is appropriate to consider the implications of a country's military expenditure for...