MILITARY SPENDING, THREATS AND STOCHASTIC GROWTH

文化大學機構典藏 CCUR > 商學院 > 國際貿易學系所 > 期刊論文 > Item 987654321/24329

jsp.display-item.identifier=請使用永久網址來引用或連結此文件: https://irlib.pccu.edu.tw/handle/987654321/24329

题名:	MILITARY SPENDING, THREATS AND STOCHASTIC GROWTH
作者:	n, PS (Lin, Po-Sheng) Lee, CT (Lee, Cheng-Te)
贡献者:	Dept Int Trade
关键词:	military spending military threat stochastic growth E22 H56 O40
日期:	2012-01
上传时间:	2013-02-26 11:16:28 (UTC+8)
摘要:	This paper analyses the impact of home military spending and foreign military threat on economic growth in a stochastic endogenous growth model involving the supply-side and demand-side effects produced by military spending. The paper states that an increase in home military spending affects economic growth through three channels, including the crowding-out effect, the spin-off effect, and the resource mobilization effect. The net effect which depends on these three channels is ambiguous. Hence, we demonstrate that there exists an optimal defence burden that maximizes the economic growth rate. Furthermore, the optimal defence burden depends on the degree of risk preference. Namely, the optimal defence burden of the risk-loving agent is more than that of the risk-neutral agent, and in turn is more than that of the risk-averse agent. At the same time, we prove that the relationship between the volatility in military spending and economic growth also depends on the degree of risk preference. In addition, we show that greater volatility in foreign military spending leads to a decrease in home aggregate consumption, and hence speeds up economic growth in the home country.
關聯:	BULLETIN OF ECONOMIC RESEARCH 卷: 64 期: 1 頁數: 8-19
显示于类别:	[國際貿易學系所] 期刊論文

文件中的档案:

档案	描述	大小	格式	浏览次数
index.html		0Kb	HTML	508	检视/开启

检视Licence

在CCUR中所有的数据项都受到原著作权保护.

数据加载中.....