Interdependence between US and European military spending: a panel cointegration analysis (1988-2013)

Raul Caruso, Marco Di Domizio

Research output: Contribution to journalArticlepeer-review

15 Citations (Scopus)

Abstract

The aim of this article is to study the interdependence of military spending between US and a panel of European countries in the period 1988–2013. The empirical estimation is based on a: (1) unit root tests and a cointegration analysis and (2) fully modified ordinary least squares and dynamic ordinary least squares estimations. General results highlight that military spending of European countries is: (1) positively associated with US military spending and (2) negatively associated with average military spending of other European countries.
Original languageEnglish
Pages (from-to)302-305
Number of pages4
JournalApplied Economics Letters
Volume23
DOIs
Publication statusPublished - 2016

Keywords

  • Economics and Econometrics
  • Military spending
  • dynamic OLS
  • fully modified OLS
  • interdependence
  • panel cointegration

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