DOES MILITARY EXPENDITURE INFLUENCE ECONOMIC GROWTH IN DEVELOPING COUNTRIES? A COINTEGRATION ANALYSIS

DOES MILITARY EXPENDITURE INFLUENCE ECONOMIC GROWTH IN DEVELOPING COUNTRIES? A COINTEGRATION ANALYSIS

This study is an attempt to reexamine the causal ordering between the two variables in the developing countries. The study investigates unit root, cointegration and exogeneity tests between military expenditure and economic growth in 14 developing countries for the period 1981-2006 considering panel...

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Veröffentlicht in:Researchers world - journal of arts science and commerce 2012-07, Vol.3 (3), p.92
Hauptverfasser: Rashid, A K M Saifur, Arif, Md Zahir Uddin
Format: Artikel
Sprache:eng
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Zusammenfassung:This study is an attempt to reexamine the causal ordering between the two variables in the developing countries. The study investigates unit root, cointegration and exogeneity tests between military expenditure and economic growth in 14 developing countries for the period 1981-2006 considering panel data analysis. Results reported herein suggest that military expenditure is an exogenous variable and this variable influences economic growth in these countries. [PUBLICATION ABSTRACT]
ISSN:2229-4686