| Title: | Endogenous growth and defense expenditures: A new explanation of the Benoit hypothesis |
| Authors: | Shieh J.Y.
Lai C.C.
Chang W.Y. |
| Contributors: | 經濟系 |
| Keywords: | Benoit hypothesis
endogenous growth
defense expenditures
elasticity of intertemporal substitution |
| Date: | 2002 |
| Issue Date: | 2009-12-04 15:35:08 (UTC+8) |
| Abstract: | This paper develops an endogenous growth model to examine the linkage between military expenditures and economic growth. We adopt the modeling strategy where both the supply side and the demand side effects of national defense are taken into considerations. Our result finds that a rise in military spending tends to stimulate the sustained growth rate, confirming Benoit's famous empirical findings. |
| Relation: | DEFENCE AND PEACE ECONOMICS Volume: 13 Issue: 3 Pages: 179-186 |
| Appears in Collections: | [Department of Economics & Graduate Institute of Economics ] journal articles
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