MILITARY SPENDING AND GROWTH: A SMALL OPEN ECONOMY STOCHASTIC GROWTH MODEL

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题名:	MILITARY SPENDING AND GROWTH: A SMALL OPEN ECONOMY STOCHASTIC GROWTH MODEL
作者:	Lee, Shin-Chyang Lee, Cheng-Te Wu, Shang-Fen
贡献者:	國貿系
关键词:	Military spending Stochastic growth Small open economy
日期:	2016-01-02
上传时间:	2016-03-16 14:53:21 (UTC+8)
摘要:	The paper analyzes the effects of military spending on economic growth in a small open stochastic endogenous growth model involving the supply-side and demand-side effects produced by military spending. We show that a rise in the military spending affects economic growth through four channels, including the crowding-out effect, the spin-off effect, the resource mobilization effect, and the portfolio effect. The net effect which depends on these four channels is ambiguous. Hence, we demonstrate that there exists an optimal defense burden that maximizes the economic growth rate.
關聯:	DEFENCE AND PEACE ECONOMICS 卷: 27 期: 1 頁碼: 105-116
显示于类别:	[國際貿易學系所] 期刊論文

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