An investigation and comparative study of the impact of military expenditures on the economic growth of selected developing and developed countries: A System GMM approach مقاله

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To this end, a vector error correction model in the field of military expenditures and economic growth and a panel data analysis method including unit root tests, panel cointegration tests, and the Systemic Generalized Method of Moments (GMM-SYS) provided by Blundell and Bond (1998) have been used. Figure (3): Global military expenditures during the years (2001-2018) (Refer to the page image) Source: Research calculations using SIPRI data Given the points presented above, what is posed as the main question of this research is whether there is a long-term relationship between military expenditures and economic growth in two groups of countries: developing and developed. The results of this study, using the panel data econometric technique, indicate a negative effect of military expenditures on the economic growth of the countries in this region. 1- Research Model and Method 1-3- Introduction to Model and Data In this article, in order to examine and compare the impact of military expenditures on the economic growth of developing and developed countries, the Feder-Ram model 1 has been used. 1- Pooling Data The results of the estimation of the Federman model in the field of military expenditure and economic growth, for developing and developed countries during the time period 1994-2018 using the System Generalized Method of Moments (SYS-GMM) method, are presented in the upper part of Table (3). (2009), "The Impact of Defense Expenditure on Economic Growth: Panel Data Analysis Based on the Feder Model", The International Journal of Economic Policy Studies, 4(8), pp.