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Download Defense, Welfare and Growth: Perspectives and Evidence by Steve Chan, Alex Mintz PDF

By Steve Chan, Alex Mintz

Defense, Welfare and development brings jointly prime students from the U.S., Europe, and Asia looking for new views on how a country's security burden may impact its welfare provision and financial progress, and vice versa. The essays are theoretical in nature, with chapters on technique and political idea and a comparability of the historic reports of a number of built and constructing nations.

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The same can be said about the analysis of the guns-growth tradeoff. ’ The purpose of this chapter is to analyze the relationship between defense spending and economic performance at a less aggregated level than has been done previously. Most studies evaluated the effect of military spending on economic performance (see, for example, Mintz and Huang 1990, 1991). The neo-Keynesian approach (see, for example, Griffin et al. 1982a, 1982b) reverses the direction of causality in guns-butter research by arguing (based on the work of Baran and Sweezy (1966); and O’Connor (1973)) that policy-makers use military expenditures as a counter-cyclical instrument in response to the performance of the economy.

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Investigating causal relations by econometric models and crossspectral methods. Econometrica 37:424–38. Devine, and Michael Wallace. 1982a. Monopoly capital, organized labor, and military expenditures in the United States, 1949–1976. American Journal of Sociology 88. Supplement: 113–53. Devine. 1982b. The political economy of military spending: evidence from the United States. Cambridge Journal of Economics 6:1–14. Huang, Chi. 1989. Determining the lag order of a vector autoregressive process: some guidelines for political studies.

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