Interdependence Between US and European Military Spending: A Panel Cointegration Analysis (1988-2013)Applied Economics Letters (2015)
The aim of this paper is to study the interdependence of military spending between US and a panel of European countries in the period 1988-2013. The empirical estimation is based on a: (i) a unit root tests and a cointegration analysis; (ii) FMOLS and DOLS estimations. General results highlight that military spending of European countries is: (1) positively associated with US military spending and (2) negatively associated with average military spending of other European countries.
- military spending,
- panel cointegration
Publication DateSummer August, 2015
Citation InformationRaul Caruso and Marco Di Domizoi. "Interdependence Between US and European Military Spending: A Panel Cointegration Analysis (1988-2013)" Applied Economics Letters (2015) p. 302 - 305
Available at: http://works.bepress.com/raul_caruso/63/