Romanian Review of Social Sciences

Universitatea Nicolae Titulescu

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GetInfo - German National Library of Science and Technology

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WZB – Social Science Research Center (Berlin)

Index Copernicus

New Jour Catalog (Georgetown Library)

EBSCO

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185 Calea Vacaresti, Bucharest

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+ 40 21 330 90 32

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EMAIL

rrss@univnt.ro

ISSN

2284 - 547X

ISSN-L

2284 - 547X

EDITOR

Dan Velicu
Nicolae Titulescu University

DOES MILITARY KEYNESIANISM HOLD FOR ASIAN COUNTRIES? PANEL COINTEGRATION AND GRANGER CAUSALITY EVIDENCE

RRSS 2013 No.4 - Romanian Review of Social Sciences

  1. Authors:
      • Bilal Mehmood, Sabahat Iqbal

  2. Keywords: Military Keynesianism, Defence, Economic Growth, Panel Cointegration, Granger Causality.

  3. Abstract:

       This paper inquires the existence of military Keynesianism for Asian region by testing cointegration and causality between defence expenditure and economic growth for time period 1990-2010. Panel unit root tests affirm the stationarity and panel cointegration technique by Pedroni (1999) discovers long run relationship between defence expenditure and economic growth. Panel Granger causality test shows that defence expenditure does not Granger cause economic growth, but reverse causality holds. Military Keynesianism does not hold in this case. The possible reason is pre-dominant expenditure on basic services in these un-developed countries and lack of locally production of advanced military goods.

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