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100			_aXINYI Wang
245			_aDemocracy, military expenditure and economic growth: _bA heterogeneous perspective/ _cXinyi Wang, Na Hou, Ba Chen
260			_c2023
520			_aCountries with different democratic levels tend to show various degrees of emphasis on military expenditure and a consensus can hardly be reached on the economic effect of democracy and military expenditure. By applying a panel vector autoregressive (PVAR) approach, this article examines the potential dynamic and endogenous relationships among democracy, military expenditure and economic growth of 126 countries from 1990 to 2020. Furthermore, the k-means clustering algorithm is employed to account for the heterogeneous interaction between democracy and military expenditure in different countries. The empirical results reveal that the strong positive impact of democracy and the negative effect of military spending on economic growth exists in the full sample and the cluster of countries with low democratic levels and a high military burden. For democratic countries with low military expenditure, there is a more significant and negative impact both of military expenditure on democracy and vice versa.
598			_aDEMOCRACY, MILITARY EXPENDITURE, ECONOMIC GROWTH, PANEL VECTOR AUTOREGRESSION, K-MEANS CLUSTERING ALGORITHM, NEWARTICLS
650			_aDEMOCRACY
650			_aMILITARY EXPENDITURE
650			_aECONOMIC GROWTH
650			_aPANEL VECTOR AUTOREGRESSION
650			_aK-MEANS CLUSTERING ALGORITHM
700			_a NA Hou
700			_aBO Chen
773			_gDefence and Peace Economics, Volume 34, Number 8, December 2023, pg. 1039-1070
856			_uhttps://www.tandfonline.com/doi/full/10.1080/10242694.2022.2126955 _zClick here for full text
942			_2ddc _cARTICLE _n0
999			_c46857 _d46857