Military Spending, the Peace Dividend, and Fiscal Adjustment

The end of the Cold War has ushered in significant changes in worldwide military spending. This paper finds that the easing of (1) international tensions, (2) regional tensions, and (3) the existence of IMF-supported programs are related to lower military spending and a higher share of nonmilitary spending in total government outlays. These factors account for up to 66 percent, 26 percent, and 11 percent of the decline in military spending, respectively. Furthermore, fiscal adjustment has implied a larger cut in military spending of countries with IMF-supported programs.
READ MORE...
Volume/Issue: Volume 1999 Issue 087
Publication date: July 1999
ISBN: 9781451851007
$20.00
Add to Cart by clicking price of the language and format you'd like to purchase
Available Languages and Formats
Paperback
PDF
ePub
Mobi
English
Prices in red indicate formats that are not yet available but are forthcoming.
Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Business and Economics , Exports and Imports , Public Finance , WP , military spending , peace dividend , fiscal adjustment , spending-GDP ratio , spending datum , equation from the government spending equation , police expenditure , international tension , Defense spending , Total expenditures , Estimation techniques , Current account surpluses , Global

Also of interest
WORKING PAPERS PUBLISHED IN JULY 2004
WORKING PAPERS PUBLISHED IN MAY 2004
WORKING PAPERS PUBLISHED IN MAY 2004
WORKING PAPERS PUBLISHED IN MAY 2005
Summary

The end of the Cold War has ushered in significant changes in worldwide military spending. This paper finds that the easing of (1) international tensions, (2) regional tensions, and (3) the existence of IMF-supported programs are related to lower military spending and a higher share of nonmilitary spending in total government outlays. These factors account for up to 66 percent, 26 percent, and 11 percent of the decline in military spending, respectively. Furthermore, fiscal adjustment has implied a larger cut in military spending of countries with IMF-supported programs.

Powered by: AIDC