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The study examines the effect of military expenditure on output in Nigeria both in the short-run and in the long-run period. In addition, it verified whether military expenditure is an economically non-contributive activity using ARDL bounds testing approach to co-integration. Results showed...
Persistent link: https://www.econbiz.de/10010492722
This paper makes two contributions to the growing literature on the military expenditureeconomic growth nexus. It provides a case study of a developing country, South Africa, and considers the possibilities of structural breaks in the relationship, applying newly developed econometric methods....
Persistent link: https://www.econbiz.de/10010699250
This paper analyses the possible presence of Granger causality between military spending and unemployment rates in the EU15 countries. The panel bootstrap test applied allows us to control for both the presence of cross-country heterogeneity and cross-sectional dependence. Considering two...
Persistent link: https://www.econbiz.de/10013030323
In this study, the analysis was that the capacity of creating inflation depends on oil prices as the one of energy … countries because it is acquired from the limited sources around the world. It causes inflation of importing countries to … exporting countries through oil prices. At the same time, the rises of oil prices causes inflation because it increases the …
Persistent link: https://www.econbiz.de/10013053710
We analyze the causal effects of real and nominal macroeconomic uncertainty on inflation and output growth by … inflation uncertainty diminishes growth rates, mainly at a high-inflation regime. Finally, real uncertainty has mixed effects on … average inflation, while the effect of nominal uncertainty is typically positive, especially so during inflationary periods …
Persistent link: https://www.econbiz.de/10011065298
This study adopted a novel quantile regression via moments to explore the effects of military spending on the distribution of economic growth of 14 MENA countries over the period from 1981 to 2019. The method, apart from enabling us to investigate the effects of military spending on the...
Persistent link: https://www.econbiz.de/10014373680
This study adopted a novel quantile regression via moments to explore the effects of military spending on the distribution of economic growth of 14 MENA countries over the period from 1981 to 2019. The method, apart from enabling us to investigate the effects of military spending on the...
Persistent link: https://www.econbiz.de/10014263670
A large literature has used tests for Granger (1969) non-causality, GNC, to examine the interaction of military spending with the economy. Such tests answer a specific though quite limited question: can one reject the null hypothesis that one variable does not help predict another? If this null...
Persistent link: https://www.econbiz.de/10008530624
In this paper drawing from the theoretical framework developed by Shieh et al., (2002), we present an endogenous growth model to empirical analyze the growth maximizing allocation of public capital among military spending and investment in infrastructure. Using this general model of public...
Persistent link: https://www.econbiz.de/10004994373
The objective of this study was to shed new light on the non-linear effects of inflation and the inflation thresholds … countries in order to see if there are any differences in the empirical linkage between inflation and long-term growth. For the … full sample of African countries, the empirical evidence showed that inflation hampered growth if it exceeds 11.1 percent …
Persistent link: https://www.econbiz.de/10011956540