Chen, Pei-Fen; Lee, Chien-Chiang; Chiu, Yi-Bin - In: Economic Modelling 36 (2014) C, pp. 474-483
This paper applies a two-step Generalized Method of Moments (GMM) to re-examine the causality between defense burden (MB) and real GDP (RY) for 137 countries. The findings indicate that a short-run causality running from MB to RY is found in lower-middle- and high-income countries and that from...
