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Series: IMF Staff Papers
Author(s): International Monetary Fund. Research Dept.
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 1996
Keywords: military spending, military expenditures, capital investment, resource allocation, cold war
This paper extends a standard growth model and obtains consistent panel data estimates of the growth retarding effects of military spending via its adverse impact on capital formation and resource allocation. Simul...