DOES DEFENCE SPENDING IMPEDE ECONOMIC GROWTH? COINTEGRATION AND CAUSALITY ANALYSIS FOR PAKISTAN

被引：46

作者：

Shahbaz, Muhammad ^{[1
]}

Afza, Talat ^{[1
]}

Shabbir, Muhammad Shahbaz ^{[2
]}

机构：

[1] COMSATS Inst Informat Technol, Lahore, Pakistan

[2] Univ Illinois, Champaign, IL USA

来源：

DEFENCE AND PEACE ECONOMICS | 2013年 / 24卷 / 02期

关键词：

Defence spending; Economic growth; Cointegration; Causality; Pakistan; MILITARY EXPENDITURE; AGGREGATE OUTPUT; UNIT-ROOT; COUNTRIES; NEXUS; VECTORS; TESTS; MODEL; SIZE; OECD;

D O I：

10.1080/10242694.2012.723159

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This study revisits the relationship between defence spending and economic growth via a Keynesian model in Pakistan using the autoregressive distributive lag bounds testing approach to cointegration. Empirical evidence suggests a stable cointegration relationship between defence spending and economic growth. An increase in defence spending reduces the pace of economic growth confirming the validity of Keynesian hypothesis in this case. Current economic growth is positively linked with economic growth of previous periods while a rise in non-military expenditures boosts economic growth. Interest rate is inversely associated with economic growth. Finally, unidirectional causality running from military spending to economic growth is found.

引用

页码：105 / 120

页数：16

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