Economic development and military expenditure.An international perspective

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

The paper sets out to analyze military spending in the current context of globalization and convergence processes involving many developing countries. On the one hand, growth drivers in many emerging economies are attributable to gross fixed capital formation, attraction of foreign direct investment and ability to internationalize and export. On the other hand, military expenditures, once again rising after a decade's downturn, have ambiguous effects on economic growth paths, positively with regard to some advanced economies, particularly in Europe, but negative for the poorest countries. In this case the effects of displacement of public expenditure in relation to productive investment or social and educational expenditure represent clear constraints that hamper a balanced and sustainable development and in general the capacity of attraction investment and the social wellbeing.
Original languageEnglish
Title of host publicationEssay in Honor of Luigi Campiglio
EditorsMaurizio Baussola
Pages120-133
Number of pages14
Publication statusPublished - 2018

Keywords

  • economic development
  • military expenditure

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