Military spending and stochastic growth
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Liutang Gong; Heng-fu Zou
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Article
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2003
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Elsevier Science
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English
β 257 KB
This study examines capital accumulation, military spending, arms accumulation, and output growth in a stochastic endogenous growth model. The analysis shows that higher (lower) growth in foreign military spending leads to faster (slower) economic growth in the home country if the home country's int