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Should Portuguese economy invest in defense spending? A revisit
COMSATS Institute Informat Technology, Pakistan .
University of Evora, Portugal .
Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
EDHEC Business Sch, France .
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2013 (English)In: Economic Modelling, ISSN 0264-9993, E-ISSN 1873-6122, Vol. 35, 805-815 p.Article in journal (Refereed) Published
Abstract [en]

In this paper, we investigate the causal relationship between defense spending and economic growth in Portugal during the period of 1980-2010. We apply the ARDL bounds testing approach in the presence of structural break. The ARDL-ECM estimation results disclose that the relations between defense spending, capital, labor and economic growth are country specific. The interesting finding of this study is that there is a U-shaped relationship that exists between defense spending and economic growth. In addition, the unidirectional causality from defense spending to economic growth exists in the case of Portugal. Therefore, defense spending can play an important role in economic development of Portugal.

Place, publisher, year, edition, pages
Elsevier , 2013. Vol. 35, 805-815 p.
Keyword [en]
Defense spending; Economic growth; Cointegration; Causality; Portugal
National Category
Social Sciences
URN: urn:nbn:se:liu:diva-104138DOI: 10.1016/j.econmod.2013.08.038ISI: 000329532100096OAI: diva2:694633
Available from: 2014-02-07 Created: 2014-02-07 Last updated: 2016-10-07

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Salah Uddin, Gazi
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EconomicsFaculty of Arts and Sciences
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