Economic development and military expenditure.An international perspective

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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.
Lingua originaleEnglish
Titolo della pubblicazione ospiteEssay in Honor of Luigi Campiglio
EditorMaurizio Baussola
Pagine120-133
Numero di pagine14
Stato di pubblicazionePubblicato - 2018

Keywords

  • economic development
  • military expenditure

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