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What is Defense Spending

Chapter 7
Handbook of Research on Military Expenditure on Economic and Political Resources
Military spending plan known as a defense budget of a nation is the amount of financial resources committed to upkeep of an armed force or different techniques of defense purposes. It often reflects how strongly an entity perceives the likelihood of threats against it, or the amount of aggression it wishes to employ. It also gives an idea of how much financing should be provided for the upcoming year. The size of a budget also reflects the entity's ability to fund military activities. The Factors include the size of that entity's economy, other financial demands on that entity, and the willingness of that entity's government or people to fund such military activity.
Published in Chapter:
Dynamics of Public Expenditure on Defense and Economic Growth Pattern in Developed and Developing Countries
Madhabendra Sinha (National Institute of Technology Durgapur, India), Anjan Ray Chaudhury (Durgapur Government College, India), and Partha Pratim Sengupta (National Institute of Technology Durgapur, India)
Copyright: © 2018 |Pages: 13
DOI: 10.4018/978-1-5225-4778-5.ch007
Abstract
Endogenous growth theories refer that public spending has a considerable bearing on economic growth. Rise in public spending retards rate of economic growth. As the economic structure across the developed and developing countries varies significantly, the effect of public spending on non-productive activities may differ across these countries. In this context, the authors develop a comparative study for looking at the dynamic relationship between public expenditure on defense activities and pattern of economic growth between developing and developed countries across the globe over the period 1960-2015. Using data from SIPRI and World Bank, the authors invoke the panel data regression with panel co-integration test followed by panel VAR. Findings indicate that developed countries have positive impact of defense spending on growth, and the relationship is bi-directional, whereas the impact is found to be negative in developing nations.
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More Results
Chapter 25
Human and Military Development: A Paradox Analyzed in the Context of India
Money spent by a government to provide its military with weapons, equipment, and soldiers.
Published in Chapter: Human and Military Development: A Paradox Analyzed in the Context of India; From: Handbook of Research on Military Expenditure on Economic and Political Resources
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