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 1988â2013. 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.
Lingua originale | English |
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pagine (da-a) | 302-305 |
Numero di pagine | 4 |
Rivista | Applied Economics Letters |
Volume | 23 |
DOI | |
Stato di pubblicazione | Pubblicato - 2016 |
Keywords
- Economics and Econometrics
- Military spending
- dynamic OLS
- fully modified OLS
- interdependence
- panel cointegration