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Military expenditure and economic growth in ASEAN-5 countries.

In this study we employ the bounds testing procedure suggested by Pesaran (2001) and dynamic OLS (DOLS) proposed by Stock and Watson (1993) to test the robustness of the causal effect and long-run relationships between military expenditure and economic growth in ASEAN-5 countries from the year 1965...

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Main Authors: Mohd Tahir, Hirnissa, Habibullah, Muzafar Shah, Abdul Hamid, Baharom
Format: Article
Language:English
English
Published: Canadian Center of Science and Education 2009
Online Access:http://psasir.upm.edu.my/id/eprint/15638/1/Military%20expenditure%20and%20economic%20growth%20in%20ASEAN.pdf
http://psasir.upm.edu.my/id/eprint/15638/
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spelling my.upm.eprints.156382015-10-22T23:41:41Z http://psasir.upm.edu.my/id/eprint/15638/ Military expenditure and economic growth in ASEAN-5 countries. Mohd Tahir, Hirnissa Habibullah, Muzafar Shah Abdul Hamid, Baharom In this study we employ the bounds testing procedure suggested by Pesaran (2001) and dynamic OLS (DOLS) proposed by Stock and Watson (1993) to test the robustness of the causal effect and long-run relationships between military expenditure and economic growth in ASEAN-5 countries from the year 1965 to 2006. Generally, our results suggest that: (1) there are only three (Indonesia, Thailand, Singapore) out of five countries analyzed exhibit long–run relationship between military expenditure and economic growth; (2) While for the case of Singapore, the causality is bidirectional, for Indonesia and Thailand it is unidirectional from military expenditure to economic growth; and (3) For the remaining countries, (Malaysia and Philippines), no meaningful relationship could be detected. The results are robust, producing similar results employing both Auto Regressive Distributed Lag (ARDL) and Dynamic Ordinary Least Square (DOLS). Canadian Center of Science and Education 2009 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/15638/1/Military%20expenditure%20and%20economic%20growth%20in%20ASEAN.pdf Mohd Tahir, Hirnissa and Habibullah, Muzafar Shah and Abdul Hamid, Baharom (2009) Military expenditure and economic growth in ASEAN-5 countries. Journal of Sustainable Development, 2 (2). pp. 192-202. ISSN 1913-9071 English
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
English
description In this study we employ the bounds testing procedure suggested by Pesaran (2001) and dynamic OLS (DOLS) proposed by Stock and Watson (1993) to test the robustness of the causal effect and long-run relationships between military expenditure and economic growth in ASEAN-5 countries from the year 1965 to 2006. Generally, our results suggest that: (1) there are only three (Indonesia, Thailand, Singapore) out of five countries analyzed exhibit long–run relationship between military expenditure and economic growth; (2) While for the case of Singapore, the causality is bidirectional, for Indonesia and Thailand it is unidirectional from military expenditure to economic growth; and (3) For the remaining countries, (Malaysia and Philippines), no meaningful relationship could be detected. The results are robust, producing similar results employing both Auto Regressive Distributed Lag (ARDL) and Dynamic Ordinary Least Square (DOLS).
format Article
author Mohd Tahir, Hirnissa
Habibullah, Muzafar Shah
Abdul Hamid, Baharom
spellingShingle Mohd Tahir, Hirnissa
Habibullah, Muzafar Shah
Abdul Hamid, Baharom
Military expenditure and economic growth in ASEAN-5 countries.
author_facet Mohd Tahir, Hirnissa
Habibullah, Muzafar Shah
Abdul Hamid, Baharom
author_sort Mohd Tahir, Hirnissa
title Military expenditure and economic growth in ASEAN-5 countries.
title_short Military expenditure and economic growth in ASEAN-5 countries.
title_full Military expenditure and economic growth in ASEAN-5 countries.
title_fullStr Military expenditure and economic growth in ASEAN-5 countries.
title_full_unstemmed Military expenditure and economic growth in ASEAN-5 countries.
title_sort military expenditure and economic growth in asean-5 countries.
publisher Canadian Center of Science and Education
publishDate 2009
url http://psasir.upm.edu.my/id/eprint/15638/1/Military%20expenditure%20and%20economic%20growth%20in%20ASEAN.pdf
http://psasir.upm.edu.my/id/eprint/15638/
_version_ 1643825986592047104
score 13.211869

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