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Public Expenditure on Defense and Economic Development: A Comparative Study on India and China

Public Expenditure on Defense and Economic Development: A Comparative Study on India and China

Partha Mukhopadhyay, Madhabendra Sinha, Partha Pratim Sengupta
Copyright: © 2018 |Pages: 12
ISBN13: 9781522547785|ISBN10: 1522547789|EISBN13: 9781522547792
DOI: 10.4018/978-1-5225-4778-5.ch009
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MLA

Mukhopadhyay, Partha, et al. "Public Expenditure on Defense and Economic Development: A Comparative Study on India and China." Handbook of Research on Military Expenditure on Economic and Political Resources, edited by Ramesh Chandra Das, IGI Global, 2018, pp. 170-181. https://doi.org/10.4018/978-1-5225-4778-5.ch009

APA

Mukhopadhyay, P., Sinha, M., & Sengupta, P. P. (2018). Public Expenditure on Defense and Economic Development: A Comparative Study on India and China. In R. Das (Ed.), Handbook of Research on Military Expenditure on Economic and Political Resources (pp. 170-181). IGI Global. https://doi.org/10.4018/978-1-5225-4778-5.ch009

Chicago

Mukhopadhyay, Partha, Madhabendra Sinha, and Partha Pratim Sengupta. "Public Expenditure on Defense and Economic Development: A Comparative Study on India and China." In Handbook of Research on Military Expenditure on Economic and Political Resources, edited by Ramesh Chandra Das, 170-181. Hershey, PA: IGI Global, 2018. https://doi.org/10.4018/978-1-5225-4778-5.ch009

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Abstract

There is a direct relationship between public expenditure on defense and economic development such as technological up gradation, increase in steel, and allied production, etc. To identify the impact of public expenditure on defense along with economic growth in India and China, this study investigates the long-run equilibrium relationship between them. This chapter uses Stockholm International Peace Research Institute (SIPRI) data and Johansen co-integration test approach to examine the relationship between public expenditure on defense and economic development in India and China on a comparative basis over the period of from 1989 to 2016. The findings imply a significant relationship between public expenditure on defense and economic development in India but no long run cointegrating relation was found in case of China.

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