This study adopts ARDL and VAR estimation methods to examine whether military spending crowd-out or crowd-in private investment in Nigeria. We use the data that covers the period from 1970 to 2019. Our results, based on the ARDL method, show that military spending only crowds-out private...

This paper studies the evolution of worldwide military spending during 1970-2018. It finds that military spending in relation to GDP is converging, but into three separate groups of countries. In the largest group, responsible for 90 percent of worldwide spending, outlays have remained...

New data makes it possible to measure the evolution of social program generosity over the roughly three decades since the affluent democracies entered the "era of austerity." Compared with plausible expectations derived from power resource theory, as well as prior historical experience, these...