Interdependence between US and European military spending: a panel cointegration analysis (1988-2013)

The aim of this article 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: (1) unit root tests and a cointegration analysis and (2) fully modified ordinary least squares and dynamic ordina...

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Bibliographic Details
Published inApplied economics letters Vol. 23; no. 4; pp. 302 - 305
Main Authors Caruso, Raul, Di Domizio, Marco
Format Journal Article
LanguageEnglish
Published London Routledge 03.03.2016
Taylor & Francis LLC
Subjects
Cointegration analysis
Defense spending
dynamic OLS
Economic analysis
Estimating techniques
Europe
fully modified OLS
Interdependence
Military expenditure
Military spending
panel cointegration
Studies
United States
United States > US
Europe
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Summary:The aim of this article 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: (1) unit root tests and a cointegration analysis and (2) fully modified ordinary least squares and dynamic ordinary least squares 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.
Bibliography:ObjectType-Article-1
SourceType-Scholarly Journals-1
ObjectType-Feature-2
content type line 23
ISSN:1350-4851
1466-4291
DOI:10.1080/13504851.2015.1071466