Defense Spending And Economic Growth


Book Description

This book examines the impact defense spending has on economic growth. While defense spending was not deliberately invented as a fiscal policy instrument, its importance in the composition of overall government spending and thus in determining employment is now easily recognized. In light of the collapse of the Soviet Union and the consequent reduction in the threat to the security of the United States, maintaining defense spending at the old level seems indefensible. The media has concentrated on the so-called peace dividend. However, as soon as the federal government is faced with defense cuts, it realizes the macroeconomic ramifications of such a step. Based on studies included in this volume, we examine the effects of defense spending on economic growth and investigate how the changed world political climate is likely to alter the importance and pattern of defense spending both for developed and developing countries.




Handbook of Research on Military Expenditure on Economic and Political Resources


Book Description

"This book explores the causal link between GDP and military expenditure, and other economic and political indicators of the countries of different status of developments for the period of formal wars to till date. It surveys the interdependences between the national output and military or defense expenditure and provides an updated progress in the present research arena"--




Is War Necessary for Economic Growth?


Book Description

Military and defense-related procurement has been an important source of technology development across a broad spectrum of industries that account for an important share of United States industrial production. In this book, the author focuses on six general-purpose technologies: interchangeable parts and mass production; military and commercial aircraft; nuclear energy and electric power; computers and semiconductors; the INTERNET; and the space industries. In each of these industries, technology development would have occurred more slowly, and in some case much more slowly or not at all, in the absence of military and defense-related procurement. The book addresses three questions that have significant implications for the future growth of the United States economy. One is whether changes in the structure of the United States economy and of the defense-industrial base preclude military and defense-related procurement from playing the role in the development of advanced technology in the future, comparable to the role it has played in the past. A second question is whether public support for commercially oriented research and development will become an important source of new general-purpose technologies. A third and more disturbing question is whether a major war, or the threat of major war, will be necessary to mobilize the scientific, technical, and financial resources necessary to induce the development of new general-purpose technologies. When the history of United States technology development in the next half century is written, it will focus on incremental rather than revolutionary changes in both military and commercial technology. It will also be written within the context of slower productivity growth than of the relatively high rates that prevailed in the United States in the 1950s and 1960s or during the information technology bubble that began in the early 1990s. These will impose severe constraints on the capacity of the United States to sustain a global-class military posture and a position of leadership in the global economy.




The Peace Dividend


Book Description

These papers demonstrate how different kinds of analytical approach can be used to anticipate the economic repercussions of systematic reduction of military spending. It is of interest to economists, scholars in peace studies and international relations, and government officials dealing with disarmament issues and economic restructuring.




Arming the South


Book Description

After marked reductions in military spending in the 1990s military budgets around the world are on the increase. In this book, renowned authorities re-examine the economics of military expenditure, arms production and arms trade in developing nations. It includes analysis of military spending in Africa, Asia and Latin America and new forms of civil conflict as well as nine case studies (Saudi Arabia, South Africa, Mozambique, Angola, Subsaharan Africa, Greece, Turkey, Guatemala and Chile). The book will serve as a valuable contribution to the fields of both development economics and security studies.




The US Army and the Texas Frontier Economy


Book Description

Seventy million dollars in fifty-five years. From Texas' annexation in 1845 until the turn of the twentieth century, the U.S. Army pumped at least that much or more into the economy of the fledgling state, a fact that directly challenges the popular heritage of Texas as the state with roots of pioneer capitalism and fervent independence. In The U.S. Army and the Texas Frontier Economy, 1845-1900, Thomas T. Smith sheds light on just who bankrolled the evolution of Texas into viable statehood. Smith draws on extensive research gathered from both government archives and Texas army posts in order to evaluate the symbiotic relationship between army quartermasters and the economy of the young state. Texas was the army's largest--and most costly--engagement, absorbing up to thirty percent of the total operating budget and channeling that currency into the commercial development of its frontier. Smith expands on historian Robert Wooster's theory that the military was engaged in an alliance with the political authority in Texas, and using documents such as army contracts for freighting, foraging, and fort leasing, he illustrates how federal fiscal activity spurred commercial growth for the citizens of Texas. Besides the obvious development of towns on the skirts of military bases and of roads between them, the establishment of military spending as a bedrock of the Texas economy and the protector of middle class interests shaped the future of the state's commercial prosperity. Writing with exceptional detail and clarity, Smith traces the emergence of the army's influence and includes analyses of information on army spending and development such as the introduction of army weather and telegraph services to the state, as well as accounts of real estate transactions involving the fort building program. Smith also accounts for army failures, maintaining that no one was truly prepared for the reality of western expansion. As an examination of the complex yet mutually beneficial economic relationship between the nation and the state, The U.S. Army and the Texas Frontier Economy, 1845-1900 is ideal for anyone interested in the early days of the state as well as in U.S. military and frontier history.




Economic Security: Neglected Dimension of National Security ?


Book Description

On August 24-25, 2010, the National Defense University held a conference titled “Economic Security: Neglected Dimension of National Security?” to explore the economic element of national power. This special collection of selected papers from the conference represents the view of several keynote speakers and participants in six panel discussions. It explores the complexity surrounding this subject and examines the major elements that, interacting as a system, define the economic component of national security.




Global Approaches in Financial Economics, Banking, and Finance


Book Description

This volume discusses the impact of Financial Economics, Growth Dynamics, and the Finance & Banking sector in the economies of countries. The contributors analyse and discuss the effects of the recent financial crises on the economic growth and performance in various countries. The volume covers aspects like foreign borrowing, impact on productivity and debt crises that are strongly affected by the financial volatility of recent years and includes examples from Europe and Asia. In addition, the authors give particular attention to the private sector of Finance and Banking, which is deeply interwoven with the financial performance of a country’s economy. Examples such as bank profitability and troubled loans are covered and the volume also discusses the economic impact of banks such as the Ottoman Bank in a national economy. The book also explores the importance of financial stability, intellectual capital and bank performance for a stable economic environment.




Making Peace Pay


Book Description




The Growth of Public Expenditure in the United Kingdom


Book Description

This work examines public expenditure, explaining the size and the structure of the system of public finance. Suitable for use as a course text, it can function as a point of departure for empirical and analytical studies on the behaviour of governments.