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    The defense industry in an age of austerity

    Smith, Ron P. (2013) The defense industry in an age of austerity. Economics of Peace and Security Journal 8 (1), pp. 18-22. ISSN 1749-852X.

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    Reductions in military expenditure will generate pressures to restructure the defense industry. This article explores the implications of a more peaceful evolution of military expenditure for the economic structure of this industry. For example, since military expenditure and defense industry concentration have moved in opposite directions in the past, future cuts in such spending might be expected to lead to a more concentrated industry. Although eventually thwarted in 2012, the proposed merger of defense industry giants BAE and EADS – which would have created the world's largest defense firm – is discussed in some detail as a potential harbinger of defense consolidation to come.


    Item Type: Article
    Keyword(s) / Subject(s): BAE, EADS, defense industry, military budgets
    School: Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School
    Research Centres and Institutes: Applied Macroeconomics, Birkbeck Centre for, Innovation Management Research, Birkbeck Centre for
    Depositing User: Sarah Hall
    Date Deposited: 12 May 2014 12:58
    Last Modified: 02 Aug 2023 17:10


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