Defense spending and economic growth in Asian economies: A panel error-correction approach
Hoping to contribute to the existing pool of literature, this paper examines the relationship between military expenditure and economic growth in selected Asian countries for the period 1989 to 2004. Our panel unit root test suggests that real GDP per capita and military expenditures are I (1) proc...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Munich University Library
2008
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| Subjects: | |
| Online Access: | http://ir.unimas.my/id/eprint/18358/ http://ir.unimas.my/id/eprint/18358/1/Muzafar.pdf |
| _version_ | 1848838496334118912 |
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| author | Muzafar Shah, Habibullah Law, Siong-Hook Dayang Affizzah, Awang Marikan |
| author_facet | Muzafar Shah, Habibullah Law, Siong-Hook Dayang Affizzah, Awang Marikan |
| author_sort | Muzafar Shah, Habibullah |
| building | UNIMAS Institutional Repository |
| collection | Online Access |
| description | Hoping to contribute to the existing pool of literature, this paper examines the relationship between military expenditure and economic growth in selected Asian countries for the period 1989 to 2004. Our panel unit root test suggests that real GDP per capita and
military expenditures are I (1) processes, while the Larsson et al. (2001) panel cointegration test indicates that economic growth and military expendirues are
cointegrated. Finally, applying the panel error-correction technique proposed by Pesaran et al. (1999), our empirical results show that defense spending and economic growth in the Asian countries under the period of study are not related. |
| first_indexed | 2025-11-15T06:56:29Z |
| format | Article |
| id | unimas-18358 |
| institution | Universiti Malaysia Sarawak |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T06:56:29Z |
| publishDate | 2008 |
| publisher | Munich University Library |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | unimas-183582023-03-23T07:23:53Z http://ir.unimas.my/id/eprint/18358/ Defense spending and economic growth in Asian economies: A panel error-correction approach Muzafar Shah, Habibullah Law, Siong-Hook Dayang Affizzah, Awang Marikan HB Economic Theory Hoping to contribute to the existing pool of literature, this paper examines the relationship between military expenditure and economic growth in selected Asian countries for the period 1989 to 2004. Our panel unit root test suggests that real GDP per capita and military expenditures are I (1) processes, while the Larsson et al. (2001) panel cointegration test indicates that economic growth and military expendirues are cointegrated. Finally, applying the panel error-correction technique proposed by Pesaran et al. (1999), our empirical results show that defense spending and economic growth in the Asian countries under the period of study are not related. Munich University Library 2008-01-05 Article PeerReviewed text en http://ir.unimas.my/id/eprint/18358/1/Muzafar.pdf Muzafar Shah, Habibullah and Law, Siong-Hook and Dayang Affizzah, Awang Marikan (2008) Defense spending and economic growth in Asian economies: A panel error-correction approach. Munich Personal RePEc Archive (12105). pp. 1-24. ISSN 2285-6803 https://mpra.ub.uni-muenchen.de/12105/ |
| spellingShingle | HB Economic Theory Muzafar Shah, Habibullah Law, Siong-Hook Dayang Affizzah, Awang Marikan Defense spending and economic growth in Asian economies: A panel error-correction approach |
| title | Defense spending and economic growth in Asian economies: A panel error-correction approach |
| title_full | Defense spending and economic growth in Asian economies: A panel error-correction approach |
| title_fullStr | Defense spending and economic growth in Asian economies: A panel error-correction approach |
| title_full_unstemmed | Defense spending and economic growth in Asian economies: A panel error-correction approach |
| title_short | Defense spending and economic growth in Asian economies: A panel error-correction approach |
| title_sort | defense spending and economic growth in asian economies: a panel error-correction approach |
| topic | HB Economic Theory |
| url | http://ir.unimas.my/id/eprint/18358/ http://ir.unimas.my/id/eprint/18358/ http://ir.unimas.my/id/eprint/18358/1/Muzafar.pdf |