000			01997cam a2200193 4500
100	1		_aALOZIOUS Juuko
245			_aNATO's two percent guideline: _ba demand for military expenditure perspective/ _cJuuko Alozious
260			_c2022
520			_aOne of the outcomes of the 2014 North Atlantic Treaty Organization (NATO) Summit held in Wales was the recommendation that allies should strive towards spending at least 2% of their Gross Domestic Product (GDP) on military expenditure by 2024. This has in recent years put the debate on burden sharing within the Alliance in the limelight. Within the Alliance, the interpretation of the guidelines is different. This is partly because the U.S.A, especially under President Trump, has consistently viewed the 2-% guideline as a binding agreement. Some allies have, however, indicated that their military expenditure will not increase to the recommended threshold by the set deadline. Critics of the guideline have also identified several shortfalls associated with it and consequently dismissed it. Those who support it emphasize for instance that it contributes to addressing grievances about free riding within the Alliance. This paper contributes to this discussion and literature on demand for military expenditure by assessing how NATO's two percent guideline can be viewed from a demand for military expenditure perspective. It also proposes and estimates a dynamic panel model for this purpose. Empirical evidence presented suggests that fiscal conditions require attention in the debate on the two percent guideline.
650			_aDEFENSE INVESTMENT PLEDGE
650			_aDEMAND FOR MILITARY EXPENDITURE
650			_aEUROPEAN UNION
650			_aNATO
650			_aTWO PERCENT GUIDELINE
773			_aDefence and Peace Economics: _gVol 33, No. 4, June 2022, pp.475-488
598			_aNATO, MILITARY, EU
856			_uhttps://www.tandfonline.com/doi/full/10.1080/10242694.2021.1940649 _zClick here for full text
945			_i69128.1001 _rY _sY
999			_c42224 _d42224