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|c 5.00 USD
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|z 9781451847338
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|a 1018-5941
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|a BD-DhAAL
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|a Knight, Malcolm.
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|a The Peace Dividend :
|b Military Spending Cuts and Economic Growth /
|c Malcolm Knight, Delano Villanueva, Norman Loayza.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1995.
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|a 1 online resource (40 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Although conventional wisdom suggests that reducing military spending may improve a country's economic growth performance, empirical studies have produced ambiguous results. This paper extends a standard growth model and estimates it using techniques that exploit both cross-section and time-series dimensions of available data to obtain consistent estimates of the growth-retarding effects of military spending via its adverse impact on capital formation and resource allocation. Model simulations suggest that a substantial long-run 'Peace Dividend'--in the form of higher capacity output--may result from: (i) markedly lower military expenditure levels achieved in most regions during the late 1980s; and (ii) further military spending cuts that would be possible in the future if a global peace could be secured.
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|a Mode of access: Internet
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|a Loayza, Norman.
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|a Villanueva, Delano.
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|a IMF Working Papers; Working Paper ;
|v No. 1995/053
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1995/053/001.1995.issue-053-en.xml
|z IMF e-Library
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