Military Expenditure and Economic Growth Literature: A Meta-Analysis

Abstract

This paper surveys the literature on military expenditure and economic growth us- ing a meta-analysis technique. There exists a vast empirical literature that examines the impact of military expenditure on economic growth. The outcomes of these studies have yielded controversial results. Therefore, a meta-analysis is conducted to review 25 empirical studies with 140 estimations. The result indicates that the net combined effect of military expenditure on economic growth is positive but the magnitude is very small.military expenditure, economic growth, meta analysis