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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Canadian Center of Science and Education
2009
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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 |
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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).
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| 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/ |
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1643825986592047104 |
| score |
13.250246 |