This paper investigates the association between executive compensation and performance. It uniquely utilizes a comprehensive set of corporate governance mechanisms within a three-stage least squares (3SLS) simultaneous equation framework. Results based on estimating a conventional single...

This paper examines the nexus between CO2 emissions, energy consumption and economic growth using simultaneous-equations models with panel data of 14 MENA countries over the period 1990-2011. Our empirical results show that there exists bidirectional causal relationship between energy...

After marked reductions in military spending in the 1990s military budgets around the world are on the increase. In this book, renowned authorities re-examine the economics of military expenditure, arms production and arms trade in developing nations. It includes analysis of military spending in...

This paper re-examines the causal impact of military expenditure on growth in the presence of internal and external threats for the period 1990-2013 using data from 70 developing countries. We find that differences in methods, model specifications, and the underlying estimation sample partly...

In the face of wars and a geopolitically challenging environment, military expenditures have once again become political focal points in developed countries. However, the scientific literature remains inconclusive regarding their impact on economic growth. This paper conducts a meticulous...