The impact of military burden on long-run growth and welfare

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题名:	The impact of military burden on long-run growth and welfare
作者:	Shieh J.Y. Lai C.C. Chang W.Y.
贡献者:	經濟系
关键词:	endogenous growth military spending welfare
日期:	2002
上传时间:	2009-12-04 15:13:01 (UTC+8)
摘要:	This paper presents an endogenous growth model to examine how a government's resource allocation between the defense and non-defense sectors will govern both economic growth and social welfare. We demonstrate that there exists an optimal defense expenditure share that maximizes the economic growth rate, but this rate is smaller than the welfare-maximizing share. This result can be viewed as a possible vehicle to explain why in many developing countries arms limitation and disarmament negotiations usually have low performance (even failing). (C) 2002 Elsevier Science B.V. All rights reserved.
關聯:	JOURNAL OF DEVELOPMENT ECONOMICS Volume: 68 Issue: 2 Pages: 443-454
显示于类别:	[經濟學系暨經濟學系碩博士班] 期刊論文

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