Defense Spending and Economic Growth around the Globe: The Direct and Indirect Link

In this study, we combine both demand- and supply-side models to investigate the direct and indirect link between defense spending and economic growth. With data from 161 states for 1990–2012, we conduct a comprehensive examination of the defense-growth nexus in the post-Cold War world. Our findings suggest that at the global level, military spending significantly dampens private investment but somewhat reduces unemployment. However, the direct economic effects of defense spending on growth are minimal at best.本研究结合需求侧与供给侧模型，探究国防开支与经济增长之间的直接与间接关联。我们借助1990年至2012年间161个国家的数据集，对冷战后全球范围内的国防-增长关联展开了全面考察。研究结果表明，从全球层面来看，军事开支会显著抑制私人投资，但会小幅降低失业率。然而，国防开支对经济增长的直接经济效应充其量仅能算作微乎其微。