Military Expenditure and Economic Growth in South Asian Countries: Empirical Evidences


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Authors

  • Saba Ismail Department of Economics, Jamia Millia Islamia, New Delhi, India

Abstract

This paper is an attempt to examine the relationship between military expenditure and economic growth in South Asia region. Panel fixed effect model has been estimated using panel data from five South Asian Countries. The results indicate positive effect of military expenditure on economic growth but significantly less compared to alternative uses of scare resources as non-military expenditure. This study raises an important issue of huge opportunity cost of military expenditure and foregone opportunity of economic growth. The paper concludes that the boosting of economic growth through higher military expenditure is neither effective nor efficient way of achieving higher growth.Keywords: Military expenditure; Economic growth; Panel Data, South AsiaJEL Classifications: H5, O41, O47

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Author Biography

Saba Ismail, Department of Economics, Jamia Millia Islamia, New Delhi, India

Dr. Saba Ismail is Assistant Professor in the Department of Economics, Jamia Millia Islamia, New Delhi, India. She has previously served in the Department of Economics, Sri Venkateswara College, University of Delhi, New Delhi. She has published her research papers in reputed national and international journals. She specializes in Growth and Development, Microeconomics, Econometrics and Time Series Analysis.

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Published

2017-06-29

How to Cite

Ismail, S. (2017). Military Expenditure and Economic Growth in South Asian Countries: Empirical Evidences. International Journal of Economics and Financial Issues, 7(3), 318–325. Retrieved from https://www.econjournals.com/index.php/ijefi/article/view/4391

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