The aim of this paper is to study the interdependence of military spending between US and a panel of European countries in the period 1988-2013. The empirical estimation is based on a: (i) a unit root tests and a cointegration analysis; (ii) FMOLS and DOLS estimations. General results highlight that military spending of European countries is: (1) positively associated with US military spending and (2) negatively associated with average military spending of other European countries.
Caruso, R., Di Domizio, M., Interdependence Between US and European Military Spending: A Panel Cointegration Analysis (1988-2013), <<APPLIED ECONOMICS LETTERS>>, N/A; (N/A): N/A-N/A. [doi:10.1080/13504851.2015.1071466] [http://hdl.handle.net/10807/67425]
Interdependence Between US and European Military Spending: A Panel Cointegration Analysis (1988-2013)
Caruso, Raul;
2015
Abstract
The aim of this paper is to study the interdependence of military spending between US and a panel of European countries in the period 1988-2013. The empirical estimation is based on a: (i) a unit root tests and a cointegration analysis; (ii) FMOLS and DOLS estimations. General results highlight that military spending of European countries is: (1) positively associated with US military spending and (2) negatively associated with average military spending of other European countries.
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