Panel Data the Quad 1991-2020

The dataset comprises the Quad (Australia, India, Japan, and the United States) member countries’ military expenditure (ME) and related economic indicators, 1991-2020. lnME is logarithms of the Quad member countries’ ME. lnSpillover1 is the product of the Quad member countries’ ME divided by its own ME. lnSpillover2 is logarithms of the sum of the Quad member countries’ ME minus its own ME. lnGDP is the Quad member countries’ GDP. And lnChineseME is logarithms of Chinese ME. lnME_fd is the first difference value of lnME. lnSpillover1_fd is the first difference value of lnSpillover1. lnSpillover2_fd is the first difference value of lnSpillover2. lnGDP_fd is the first difference value of ln lnGDP. And lnChineseME_fd is the first difference value of lnChineseME. IV_1_1 is the 2 periods lagged lnSpillover1_fd. IV_1_2 is logarithms of the first difference value of the product of the Quad member countries’ GDP divided by its own GDP. IV_2_1 is the 2 periods lagged lnSpillover2_fd. IV_2_2 is logarithms of the first difference value of the sum of the Quad member countries’ GDP minus its own GDP. Data on the Quad member countries’ ME (in current US dollars) from 1991–2020 were obtained from Stockholm International Peace Research Institute (2022), and data on their GDP (in current US dollars) during the same period were obtained from World Bank (2022). Further, Chinese ME (in current US dollars) from 1991–2020 were obtained from Stockholm International Peace Research Institute (2022). The data were converted to constant US dollars using the US GDP deflator taken from World Bank (2022). Data source Stockholm International Peace Research Institute. 2022. “SIPRI Military Expenditure Database.” https://www.sipri.org/databases/milex. World Bank. 2022. “World Development Indicators.” https://databank.worldbank.org/source/world-development-indicators.