文章基本信息

标题：Military Expenditures, External Threats and Economic Growth
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作者：Ari Francisco de Araujo Junior ; Cláudio D. Shikida
期刊名称：Economics Bulletin
电子版ISSN：1545-2921
出版年度：2008
卷号：15
出版社：Economics Bulletin
摘要：Do military expenditures have impact on growth? Aizenman & Glick (2006) found that this impact is positive in countries with good governance, where the external threat is significant. Our article shows that their results suffer from three limitations: (i) they are not robust to the most recent main database used (ii) small changes in the time period of some variables change their results, and (iii) the authors' econometric specification is not adequate to their hypothesis. Using a 2SLS specification we reconfirm the authors'' hypothesis.