Paper prepared for the United Nations Development Programme (UNDP), Human Development Report 1992. The reduction in tension between the superpowers offers the opportunity to release funds, a peace dividend that could be put to constructive use. This paper considers whether this opportunity, as...

The end of the Cold War has ushered in significant changes in worldwide military spending. This paper finds that the easing of (1) international tensions, (2) regional tensions, and (3) the existence of IMF-supported programs are related to lower military spending and a higher share of...