Theoretical and Applied Economics
No. 1 / 2016 (606), Spring
Nexus between defense expenditure and economic growth in BRIC economies: An empirical investigation
Indian Institute of Technology, Ropar, Punjab, India
Debi Prasad BAL
Xavier Institute of Management, Bhubaneswar, Odisha, India
Manoranjan SAHOO
Indian Institute of Technology, Madras, Tamil Nadu, India
Abstract. This paper considers the defense expenditure and economic growth nexus based on the cross-border problems and increasing geo-political presence for BRIC blocs over the period 1993-2014. Our approach is more methodological in terms of employing Panel cointegration and causality to highlight the fundamental relation between the defense expenditure and economic growth. Here we emphasize various economic considerations in terms of pre and post war, strategic and spatial phenomenon to capture the magnitude of gains from the increased defense spending in the region. We are using panel unit-root; panel cointegration and panel-Granger causality to highlight the fundamental relationship between the variables. We conclude by discussing the issues as well as quantifying the consequences of present geostrategic conditions associated with these economies.
Contents
Female entrepreneurial activity in Romania
Analysis of the causal link between wages and prices in UK
Assessing the regional development degree – step one: Calibrating the polar diagram
The relationship between output and asset prices: A time – and frequency – varying approach
Territorial patterns of development in the European Union
Nexus between defense expenditure and economic growth in BRIC economies: An empirical investigation
Efficiency, non-linearity and chaos: evidences from BRICS foreign exchange markets
A theoretical examination of tax evasion among the self-employed
Long-term effects of the investments dynamics in Romania in the post-accession period – a regional approach
A utility based theoretical model for the income-life expectancy curve
Essentials aspects on macroeconomic variables and their correlations
Determinants of the Hungarian forint/ US dollar exchange rate
Macroeconomic strategies for the prevention of economic and financial crisis
Does tourism affect economic growth in Indian states? Evidence from panel ARDL model
Sovereign debt crisis. From challenges to solutions
International trade and tourism for Mediterranean countries: A panel causality analysis
Economic freedom index and stock returns in Malaysia
How budget deficit and current account deficit are interrelated in Indian economy
Study regarding the influence of the endogenous and exogenous factors on credit institution’s return on assets
Effects of oil returns and external debt on the government investment: A case study of Syria