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    The demand for military expenditure

    Smith, Ron (1995) The demand for military expenditure. In: Hartley, K. and Sandler, T. (eds.) The Handbook of Defence Economics. Elsevier, pp. 69-87. ISBN 9780444818874.

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    This chapter provides an analytical survey of models explaining the level of military expenditure, emphasizing empirical econometric models based on optimizing behavior. After setting out the standard neo-classical model in which nation states are represented as rational agents maximizing a welfare function depending on security and economic variables subject to a budget constraint, the chapter considers: criticisms of this model, alternative theoretical specifications, data and measurement issues, alternative econometric approaches and reviews selected studies.


    Item Type: Book Section
    School: School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Depositing User: Sarah Hall
    Date Deposited: 20 Oct 2020 13:07
    Last Modified: 20 Oct 2020 13:07


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