Growth, Political Instability and the Defence Burden
研究了政治不稳定和军费开支对经济增长的影响，发现政治不稳定抑制增长，而军费虽能降低政治不稳定，但对增长有直接负面作用。
The author develops and tests a model to examine the economic effects of political instability and military expenditure. Defense plays three important roles in the model: (1) it provides insurance against political instability; (2) it augments the human capital stock by training the labour force; but (3) it comes at the expense of consumption. The resulting theory predicts that increased political instability or increased defense can inhibit economic growth. Using panel data, the author finds that increases in political instability do decrease growth while increases in defense do decrease political instability. I also find that increases in defense have a direct negative effect on growth, although the relation is weak. Copyright 1996 by The London School of Economics and Political Science.