Military Expenditure and Economic Growth in the Middle East by Latif Wahid (auth.)

By Latif Wahid (auth.)

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Example text

In his justification for the necessity of a standing army, Adam Smith argued that for the provision of such an army, a certain class of society had to make the military profession their sole occupation during times of war as well as in peace, and society would have to bear the cost of their subsistence. On the issue of the expenses of war, Smith discussed the ineffectiveness of raising taxes as a means of meeting the immediate needs of an army. He argues that increasing taxes when a war begins or the moment at which it appears to begin ‘will not begin to come into the treasury till perhaps ten or twelve months after they are imposed’ (Smith 1976, p.

Until early 1980s, military coups d’état dominated the political life in most developing countries. There is no doubt that the rise of the political influence of armed force in the developing countries during the 1970s and 1980s coincided with the rise of military expenditure in those countries. In general, the developing countries, through various means, increased their share of world military expenditure during the 1950s and early 1970s. 3 per cent in 1975. The Middle Eastern countries experienced the largest average increase.

Joerding (1986) applies the Granger test to data on military spending and growth for 57 developing countries between 1962 and 1977 and finds that the hypothesis of Granger non-causality from growth to military expenditure to be rejected while the hypothesis of Granger non-causality from military expenditure to economic growth is not rejected by data. His conclusion is that empirical studies of the relationship between military expenditure and economic growth have assumed that military expenditure is exogenous with respect to economic growth and, since it is not, they have arrived at incorrect conclusions.

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