TY  - JOUR
PY  - 2002//
TI  - Endogenous Growth and Defense Expenditures: A New Explanation of the Benoit Hypothesis
JO  - Defence and peace economics
A1  - Lai, Ching-chong
A1  - Shieh, Jhy-yuan
A1  - Chang, Wen-Ya
SP  - 179
EP  - 186
VL  - 13
IS  - 3
N2  - This paper develops an endogenous growth model to examine the linkage between military expenditures and economic growth. We adopt the modeling strategy where both the supply side and the demand side effects of national defense are taken into considerations. Our result finds that a rise in military spending tends to stimulate the sustained growth rate, confirming Benoit's famous empirical findings.<p /> 
LA  - 
SN  - 1024-2694
UR  - http://dx.doi.org/10.1080/10242690210975
ID  - ref1
ER  -