Military Expenditures and Economic Growth in Less Developed Countries: An Augmented Model and Further Evidence

1986 ◽  
Vol 34 (2) ◽  
pp. 361-372 ◽  
Author(s):  
Basudeb Biswas ◽  
Rati Ram
Keyword(s):  
Economic Growth ◽  
Developed Countries ◽  
Less Developed Countries ◽  
Military Expenditures

scholarly journals Bringing the Military Back in: Military Expenditures and Economic Growth 1990 to 2003

2008 ◽  
pp. 142-172 ◽  
Author(s):  
Jeffrey Kentor ◽  
Edward Kick
Keyword(s):  
Economic Growth ◽  
National Development ◽  
Military Spending ◽  
Developed Countries ◽  
Less Developed Countries ◽  
Least Developed Countries ◽  
Military Organizations ◽  
Military Expenditures ◽  
Military Institution ◽  
The Military

After the “peace bonus” era, global military expenditures have escalated sharply despite some worldwide declines in military personnel. Theories on the economic impacts of the military institution and escalated military spending greatly differ and include arguments that they either improve domestic economic performance or crowd out growth-inducing processes. Empirical findings on this matter are inconclusive, in part due to a failure to disentangle the various dimensions of military expenditures. We further suggest that modern sociology's relative inattention to such issues has contributed to these shortcomings. We explore a new dimension of military spending that clarifies this issue—military expenditures per soldier —which captures the capital intensiveness of a country’s military organization. Our cross-national panel regression and causal analyses of developed and less developed countries from 1990 to 2003 show that military expenditures per soldier inhibit the growth of per capita GDP, net of control variables, with the most pronounced effects in least developed countries. These expenditures inhibit national development in part by slowing the expansion of the labor force. Labor-intensive militaries may provide a pathway for upward mobility, but comparatively capital-intensive military organizations limit entry opportunities for unskilled and under- or unemployed people. Deep investments in military hardware also reduce the investment capital available for more economically productive opportunities. We also find that arms imports have a positive effect on economic growth, but only in less developed countries.

Exports and Economic Growth in the Overseas Sterling Area: 1960-61 to 1975

1966 ◽  
Vol 38 ◽  
pp. 36-62
Author(s):  
A. Maizels ◽  
L. F. Cambell-Boross ◽  
P. B. W. Rayment
Keyword(s):  
Economic Growth ◽  
Developed Countries ◽  
Less Developed Countries ◽  
Selection Of

The purpose of this article is twofold. First, to examine the export prospects over the coming decade of some of the principal countries of the overseas sterling area; and, second, to assess the implications of such export prospects for the economic growth of a selection of the less-developed countries of the area between now and 1975.

The Generalized System of Preferences of the United States: Does It Promote Industrialization and Economic Growth in Least Developed Countries?

2008 ◽  
Vol 1 (1) ◽  
Author(s):  
Caf Dowlah
Keyword(s):  
United States ◽  
Economic Growth ◽  
Market Access ◽  
Developed Countries ◽  
The United States ◽  
Primary Objective ◽  
Less Developed Countries ◽  
Least Developed Countries ◽  
Generalized System ◽  
Generalized System Of Preferences

The Generalized System of Preferences (GSP)—a system of differential and favorable trade arrangements toward less developed countries, adopted by the General Agreement on Tariff and Trade (GATT)—has been around since the early 1970s. A primary objective of these schemes has been to promote industrialization and economic growth in less developed countries through trade rather than aid. The outcome of such programs has, however, been mixed. This paper identifies some of the underlying political and economic dynamics which led to the dismal performance of the GSP schemes of the United States in respect to the industrialization and economic growth of the Least Developed Countries (LDCs). The paper suggests that the effectiveness of GSP schemes could be significantly improved if they were brought under the binding WTO rules, if greater resources were directed to removing supply constraints in the LDCs, and if developed countries granted unwavering market access to LDC exports.

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