An econometric study of the long-run relationship between defence expenditure and economic growth: Evidence from a developing country.

Simple item page
dc.contributor.authorOgbokor, Cyril A.
dc.date.accessioned2015-06-16T08:15:09Z
dc.date.available2015-06-16T08:15:09Z
dc.date.issued2015
dc.description.abstractThe high levels of financial allocations to Namibia’s defence budgets have been heavily criticised because such expenditures is considered as a leakage to the country’s economy. In light of this, the study assessed the impact of military spending on economic growth in Namibia by employing the two-step Engle-Granger approach in the context of a single equation setting. The macro-economic time-series data sets utilised stretches from 1990 to 2014. The study found co-integration relationships among the variables used, suggesting the existence of a long-run relationship among the variables used in the econometric model. Furthermore, the model used passed the stability test. However, the predictive power of the model was found to be very weak given the low value of the adjusted coefficient of determination. In addition, a unidirectional causality relationship running from economic growth to military expenditure was found implying that military spending does not promote or lead to economic growth. Therefore, the need for the government to control its expenditure on defence cannot be over stressed given the findings of the study. Concomitantly, further studies concerning the issue under examination should consider the use of quarterly data sets as against annual data sets.en_US
dc.identifier.citationOgbokor, C. A. (2015). An econometric study of the long-run relationship between defence expenditure and economic growth: Evidence from a developing country. International Journal of Economics, Commerce and Management, III(6), 105-115.en_US
dc.identifier.issn2348-0386
dc.identifier.urihttp://hdl.handle.net/10628/524
dc.language.isoenen_US
dc.publisherIJECMen_US
dc.subjectDefence expenditure vs Economic growth - Namibiaen_US
dc.subjectDefence expenditure - Namibiaen_US
dc.subjectEconomic growth - Namibiaen_US
dc.subjectCo-integration and causalityen_US
dc.subjectError correction modelen_US
dc.subjectEconomietric study - Namibiaen_US
dc.titleAn econometric study of the long-run relationship between defence expenditure and economic growth: Evidence from a developing country.en_US
dc.typeArticleen_US

Files

Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Ogbokor. An econometric study of the long run....pdf
Size:
173.52 KB
Format:
Adobe Portable Document Format
Description:
Main article
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Item-specific license agreed upon to submission
Description:
Download

Collections

Economics