The impact of military expenditure on external debt: the case of 35 arms importing countries/ Lubna Khan, Imtiaz Arif and Sundus Waqar
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TextPublication details: 2021Subject(s): Online resources:
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Defence and Peace Economics Vol 32, No. 5, August 2021, pp.588-599Summary: More specifically, it was noted that military expenditure decreases external debt in Europe and Central Asia. Moreover, it was found that the interaction term of military expenditure and growth rate is positive and significant in all of the sub-samples, except upper-middle class, the Middle East and North Africa, and Latin American regions. Thus, it may be concluded that military expenditure often increases external debt burden in countries where the debt management system is weak.
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More specifically, it was noted that military expenditure decreases external debt in Europe and Central Asia. Moreover, it was found that the interaction term of military expenditure and growth rate is positive and significant in all of the sub-samples, except upper-middle class, the Middle East and North Africa, and Latin American regions. Thus, it may be concluded that military expenditure often increases external debt burden in countries where the debt management system is weak.
ECONOMICS, ARMSEXPEND, MILITARY, DEFENCE
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