Military spending and economic growth: is there an interdependence? Case of developed countries-Reference-Cited by-同舟云学术

Military spending and economic growth: is there an interdependence? Case of developed countries

Published:2024-08-28 Issue: Volume: Page:
ISSN:2029-929X
Container-title:International Scientific Conference „Business and Management“
language:
Short-container-title:

Author:

Kolinets Lesya¹^ORCID,Dluhopolskyi Oleksandr²^ORCID

Affiliation:

1. Department of Economics Engineering, Vilnius Gediminas Technical University, Saulėtekio al. 11, Vilnius, Lithuania

2. Faculty of Economics and Management, West Ukrainian National University, Lvivska 11, Ternopil, Ukraine; Faculty of Public Administration and Business, WSEI University, Projectowa 4, Lublin, Poland

Abstract

This study investigates the impact of military spending and arms exports on economic growth. Using data from developed countries spanning the period 1973–2022, we employ a regression model to analyse the relationship between gross domestic investment, military expenditure, arms exports, and GDP per capita growth. Our findings indicate that domestic investment has a significant positive influence on economic growth, while military spending and arms exports show negligible effects. The results emphasize the critical importance of domestic investment in fostering economic development, highlighting its superiority over military-related expenditures and exports in shaping economic outcomes.

Publisher

Vilnius Gediminas Technical University

Link

https://etalpykla.vilniustech.lt/bitstream/handle/123456789/154761/011_1261_BM2024_1sec_080-087.pdf?sequence=1&isAllowed=y

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