The debt crisis that struck South American countries in the 1980s led to severe recession, and chronic economic problems. This paper considers one potentially important contributor to the growth of external debt, namely military spending. It considers the experience of Argentina, Brazil and...

Using SIPRI's new consistent database on military expenditures, the paper examines the economic effects of such spending in the case of the 13 Latin American countries. Employing both linear and nonlinear tests, the nexus between defence spending, economic growth, and investment is investigated...

Using SIPRI’s new consistent database on military expenditures, the paper examines the economic effects of such spending in the case of the 13 Latin American countries. Employing both linear and nonlinear tests, the nexus between defence spending, economic growth, and investment is...

The outbreak of the sovereign debt crisis at the end of 2009 in Greece led to a severe recession, and constant economic problems. This paper investigates military expenditure among others as a potential factor to the growth of sovereign debt in Greece over the period 1960 until currently. Our...

This paper describes George Washington's administration response to a plea for emergency war financing from French colonists who were trying to quash a slave rebellion in Haiti (then Saint Domingue). Washington bypassed Congress and authorized assistance to the French planters, hoping that...

This paper considers the impact of military spending on debt in a panel of 11 small industrialising economies using panel data methods. It provides estimates for fixed effects and random effects models and then moves on to consider dynamic models. The dynamics are found to be important and the...

Determinants of trade flows have always attracted researchers. In this paper, we model monthly trade flows in India over January 2000 – December 2007 in a bid to gauge their responsiveness to exchange rate movements. Capital account and overall BOP surplus have led the Indian Rupee (INR) to...

We analyse in this paper the relationship between outward FDI and exports, with Spanish quarterly data for the period 1977-1992. The empirical methodology makes use of Granger-causality tests in a cointegration framework, where the order of lags for each variable has been selected by means of...

This paper provides further insights into the dynamics of exports and outward foreign direct investment (FDI) flows in Spain from a time-series approach. The contribution of the paper is twofold: i) the existence of either substitution or a complementary relationship between Spanish outward...

This paper proposes open- and closed-economy versions of an endogenous growth model to evaluate the impact of foreign direct investment (FDI) and international knowledge transfers and spillovers on the long-run growth rate of the recipient economy. In the open economy, foreign investors may...