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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Military expenditure and economic growth in Nigeria
Author:Odusola, Ayodele F.
Periodical:The Nigerian Journal of Economic and Social Studies
Geographic term:Nigeria
Subjects:public expenditure
economic development
Abstract:The past two decades have witnessed an alarming expansion in military expenditure in many developing countries, including Nigeria. This paper analyses the trends of military expenditure in Nigeria between 1970 and 1994 and examines the impact of the military burden on the growth of the Nigerian economy. To capture the nexus of interrelationships that exist between military expenditure and growth, a simultaneous equations model was specified and estimated using the two stage least squares estimation technique. The empirical results indicate that a reduction in military spending will stimulate growth. More specifically, recurrent military expenditure is more growth retarding than capital military expenditure. Bibliogr., note, sum.