ABSTRACT
Since the 1960s, the relation between military expenditures and economic growth has been extensively investigated and debated, especially among development economists, peace and defense economists, and political economists (Hitch, 1960; Benoit, 1973, 1978; Adams et al., 1991; Lim, 1983; Babin, 1989; Atesoglu and Mueller, 1990; Alexander, 1990; Biswas and Ram, 1986; Rothschild, 1973; Deger and Sen, 1983; Deger 1986a, 1986b; Macnair et al., 1995; Sandler and Hartley, 1995). 1
