Defense Expenditures, Economic Growth, and the “Peace Dividend”

1990 ◽  
Vol 84 (4) ◽  
pp. 1283-1293 ◽  
Author(s):  
Alex Mintz ◽  
Chi Huang
Keyword(s):  
United States ◽  
Economic Growth ◽  
Eastern Europe ◽  
The United States ◽  
Equation Model ◽  
Defense Spending ◽  
Delayed Effects ◽  
Peace Dividend ◽  
Recent Developments

Recent developments in Eastern Europe have created expectations of a “peace dividend” associated with reduced levels of U.S. defense expenditures. We present and empirically estimate a two-equation model for assessing the direct and indirect, immediate and delayed effects of changes in defense spending on economic growth in the United States.

Sizing up the Peace Dividend: Economic Growth and Military Spending in the United States, 1948–1996

1992 ◽  
Vol 86 (3) ◽  
pp. 748-755 ◽  
Author(s):  
Michael D. Ward ◽  
David R. Davis
Keyword(s):  
United States ◽  
Economic Growth ◽  
International System ◽  
Military Spending ◽  
The United States ◽  
Defense Spending ◽  
Economic Output ◽  
Peace Dividend ◽  
Military Expenditures ◽  
The Relationship

We examine the relationship between military expenditures and economic growth in the United States from 1948 to 1990, in order to gauge the potential peace dividend. Our main results suggest that military spending is a significant drain on the economy. We then examine the implications of a restructured international system for U.S. military expenditures and their resultant impact on economic growth in the 1990s. Simulations of Democratic and Republican proposals for cuts in defense spending suggest increases in economic output of between 2.5% and 4.5% over the period 1993–96.

Markets, Technological Change and Economic Growth (The Quaid-i-Azam Lecture)

1994 ◽  
Vol 33 (4I) ◽  
pp. 327-356 ◽  
Author(s):  
Richard G. Lipsey
Keyword(s):  
United States ◽  
Economic Growth ◽  
Developing Countries ◽  
Common Ground ◽  
The United States ◽  
Industrial Countries ◽  
Canadian Institute ◽  
Primary Focus ◽  
Short Time

I am honoured to be invited to give this lecture before so distinguished an audience of development economists. For the last 21/2 years I have been director of a project financed by the Canadian Institute for Advanced Research and composed of a group of scholars from Canada, the United States, and Israel.I Our brief is to study the determinants of long term economic growth. Although our primary focus is on advanced industrial countries such as my own, some of us have come to the conclusion that there is more common ground between developed and developing countries than we might have first thought. I am, however, no expert on development economics so I must let you decide how much of what I say is applicable to economies such as your own. Today, I will discuss some of the grand themes that have arisen in my studies with our group. In the short time available, I can only allude to how these themes are rooted in our more detailed studies. In doing this, I must hasten to add that I speak for myself alone; our group has no corporate view other than the sum of our individual, and very individualistic, views.

Rethinking U.S. National Security after Covid19

2020 ◽  
Vol 26 (3) ◽  
Author(s):  
Linda J. Bilmes
Keyword(s):  
Climate Change ◽  
United States ◽  
National Security ◽  
The United States ◽  
Emerging Diseases ◽  
Defense Spending ◽  
Federal Spending ◽  
Us Economy ◽  
The Us ◽  
The Military

AbstractThe United States has traditionally defined national security in the context of military threats and addressed them through military spending. This article considers whether the United States will rethink this mindset following the disruption of the Covid19 pandemic, during which a non-military actor has inflicted widespread harm. The author argues that the US will not redefine national security explicitly due to the importance of the military in the US economy and the bipartisan trend toward growing the military budget since 2001. However, the pandemic has opened the floodgates with respect to federal spending. This shift will enable the next administration to allocate greater resources to non-military threats such as climate change and emerging diseases, even as it continues to increase defense spending to address traditionally defined military threats such as hypersonics and cyberterrorism.

Japan's Role in Asia-Pacific Cooperation

1991 ◽  
Vol 513 (1) ◽  
pp. 25-37 ◽  
Author(s):  
SABURO OKITA
Keyword(s):  
United States ◽  
Economic Growth ◽  
International Economic ◽  
The United States ◽  
Growth Potential ◽  
The Other ◽  
Asia Pacific ◽  
Asia Pacific Economic Cooperation ◽  
Rapid Economic Growth ◽  
International Trading

The Asia-Pacific countries achieved rapid economic growth with the flying-goose model in the 1980s, growth buttressed by export-oriented development strategies and the policy culture in these countries. While Japan and the other Asia-Pacific countries still have strong growth potential, many problems remain, including trade imbalances with the United States and the rise of protectionism there, the Asia-Pacific economies' vulnerability, and the need to consolidate the infrastructure for growth. It is imperative that Japan contribute to the development of the region by responding effectively to these issues and that it strengthen the international trading arrangements by promoting Asia-Pacific cooperation premised on openness. Given the region's great internal diversity, Asia-Pacific economic cooperation can well serve as a model for international economic coordination.

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