文章基本信息

标题：The Military Expenditure-External Debt Nexus: New Evidence from a Panel of Middle Eastern Countries
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作者：Paresh Kumar Narayan,Russell,Smyth
期刊名称：Discussion Paper Series / Department of Economics, Monash University
出版年度：2007
卷号：1
出版社：Monash University
摘要：This paper examines the impact of military expenditure and income on external debt for a panel of six Middle Eastern countries; namely, Oman, Syria, Yemen, Bahrain, Iran, and Jordan, over the period 1988 to 2002. Using Pedroni's (2004) test for panel cointegration, we find that there is a long-run relationship between external debt, military expenditure and income. The estimated long-run elasticities suggest that an increase in military expenditure contributes to a rise in external debt, while an increase in income helps the Middle Eastern countries to pay off their external debt.