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...

This study investigates persistence (or hysteresis) in weapons using a panel of 163 countries for the period 2010 to 2015. The following are some main findings. (i) Compared to countries that are landlocked, persistence in heavy weapons is more apparent in nations that are open to the sea. (ii)...