Military expenditure, economic growth and structural instability: A case study of South Africa

 

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dc.creator Aye, Goodness
dc.creator Balcilar, Mehmet
dc.creator Dunne, John P.
dc.creator Gupta, Rangan
dc.creator van Eyden, Reneé
dc.date 2014-06-25T09:38:27Z
dc.date 2014-06-25T09:38:27Z
dc.date 2014
dc.date.accessioned 2015-05-28T10:06:41Z
dc.date.available 2015-05-28T10:06:41Z
dc.date.issued 2015-05-28
dc.identifier Aye, G., Balcilarb, M., Dunne, J.P., Gupta, R. & van Eyden, R. (2014). Military expenditure, economic growth and structural instability: A case study of South Africa, Defence and Peace Economics.
dc.identifier http://www.tandfonline.com/doi/abs/10.1080/10242694.2014.886432#.U6qYA_mSz9U
dc.identifier http://hdl.handle.net/11090/734
dc.identifier.uri http://hdl.handle.net/11090/734
dc.description This paper contributes to the growing literature on the milex-growth nexus, by providing a case study of South Africa and considering the possibility of structural breaks by applying newly developed econometric methods. Using full sample bootstrap Granger non-causality tests, no Granger causal link is found between military expenditure and GDP for 1951–2010, but parameter instability tests show the estimated VARs to be unstable. Using a bootstrap rolling window estimation procedure, however, finds evidence of bidirectional Granger causality in various subsamples. This implies standard Granger non-causality tests, which neither account for structural breaks nor time variation may be invalid.
dc.language en
dc.publisher Defence and Peace Economics
dc.subject South Africa
dc.subject Milex-growth nexus
dc.subject Granger non-causality tests
dc.subject Military expenditure
dc.subject GDP
dc.title Military expenditure, economic growth and structural instability: A case study of South Africa
dc.type Journal Article en_ZA
uct.type.publication Research en_ZA
uct.type.resource Article en_ZA
dc.publisher.institution University of Cape Town
dc.publisher.faculty Faculty of Commerce en_ZA
dc.publisher.department SALDRU en_ZA


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