Economic Development, Armament and Military Expenditure. An International Perspective

The paper sets out to analyze military spending in the current context of globalization\r\nand convergence processes involving many developing countries.\r\nOn the one hand, growth drivers in many emerging economies are attributable\r\nto gross fixed capital formation, attraction of foreign direct investment\r\nand ability to internationalize and export. On the other hand, military expenditures,\r\nonce again rising after a decade’s downturn, have ambiguous effects\r\non economic growth paths, positively with regard to some advanced economies,\r\nparticularly in Europe, but negative for the poorest countries. In this\r\ncase the effects of displacement of public expenditure in relation to productive\r\ninvestment or social and educational expenditure represent clear constraints\r\nthat hamper a balanced and sustainable development and, in general,\r\nthe capacity of attracting investment and the social well-being.