Defense Expenditures and Macroeconomic Stabilization in Pakistan: A Test of the Military Keynesianism Hypothesis
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Perhaps because of Pakistan's (Henderson, 1993) pursuit of nuclear capability, increased attention has focused on that country's pattern of defense expenditures. Because of the high proportion of the budget devoted to defense, the economic impact of these expenditures has also been of concern. How rapidly do Pakistani defense expenditures respond to increased Indian allocations to the military? Are the opportunity costs (in terms of foregone output and income) likely to constrain that country's military budget?
Rivista Internazionale di Scienze Economiche e Commerciali, September 1998.Refereed Journal Article
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