The Policy Relevance of Recent Research on the Economics of Third World Military Expenditures
Abstract
Until the early 1970s, third world policy makers received
clear guidance from economists: the production (or purchase)
of more guns must come at the sacrifice of butter. This all
changed with the 1973 publication of Emile Benoit's seminal
work. Benoit's analysis was the first quantitative assessment
of the manner in which third world defense expenditures
affect overall rates of economic growth. Needless to say, his
counter-intuitive finding that defense expenditures do not
necessarily hinder or help growth stimulated a deluge of
critical, follow on papers.
Description
Journal of Social, Political and Economic Studies, Summer 1990.
Refereed Journal Article