The paper sets out to analyze military spending in the current context of globalization and convergence processes involving many developing countries. On the one hand, growth drivers in many emerging economies are attributable to gross fixed capital formation, attraction of foreign direct investment and ability to internationalize and export. On the other hand, military expenditures, once again rising after a decade's downturn, have ambiguous effects on economic growth paths, positively with regard to some advanced economies, particularly in Europe, but negative for the poorest countries. In this case the effects of displacement of public expenditure in relation to productive investment or social and educational expenditure represent clear constraints that hamper a balanced and sustainable development and in general the capacity of attraction investment and the social wellbeing.

Parazzini, S. S., Rizzi, P., Economic development and military expenditure.An international perspective, in Baussola, M. (ed.), Essay in Honor of Luigi Campiglio, Università Cattolica del Sacro Cuore, Milano 2018: 120- 133 [http://hdl.handle.net/10807/133840]

Economic development and military expenditure.An international perspective

Parazzini, Sergio Serafino
Primo
;
Rizzi, Paolo
Secondo
2018

Abstract

The paper sets out to analyze military spending in the current context of globalization and convergence processes involving many developing countries. On the one hand, growth drivers in many emerging economies are attributable to gross fixed capital formation, attraction of foreign direct investment and ability to internationalize and export. On the other hand, military expenditures, once again rising after a decade's downturn, have ambiguous effects on economic growth paths, positively with regard to some advanced economies, particularly in Europe, but negative for the poorest countries. In this case the effects of displacement of public expenditure in relation to productive investment or social and educational expenditure represent clear constraints that hamper a balanced and sustainable development and in general the capacity of attraction investment and the social wellbeing.
2018
Inglese
Essay in Honor of Luigi Campiglio
9788834335628
Università Cattolica del Sacro Cuore
Parazzini, S. S., Rizzi, P., Economic development and military expenditure.An international perspective, in Baussola, M. (ed.), Essay in Honor of Luigi Campiglio, Università Cattolica del Sacro Cuore, Milano 2018: 120- 133 [http://hdl.handle.net/10807/133840]
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10807/133840
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