Military Spending, the Peace Dividend, and Fiscal Adjustment

IMF Working Papers, July 1, 1999

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Military Spending, the Peace Dividend, and Fiscal Adjustment

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Bibliographic details

• Authors: Benedict J. Clements, Jerald A Schiff, Peter Debaere, Hamid R Davoodi
• Published: July 1, 1999
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781451851007.001

Summary findings

• The end of the Cold War has ushered in significant changes in worldwide military spending.
• The paper finds that easing of three factors is related to lower military spending and a higher share of nonmilitary spending in total government outlays:
  • (1) international tensions,
  • (2) regional tensions, and
  • (3) the existence of IMF-supported programs.
• These factors account for up to 66 percent, 26 percent, and 11 percent of the decline in military spending, respectively.
• Fiscal adjustment has implied a larger cut in military spending of countries with IMF-supported programs.

Quantitative contributions and key statistics

• Contribution to decline in military spending:
  • international tensions: up to 66 percent
  • regional tensions: up to 26 percent
  • existence of IMF-supported programs: up to 11 percent
• Publication details:
  • Authors: Benedict J. Clements, Jerald A Schiff, Peter Debaere, Hamid R Davoodi
  • Date: July 1, 1999
  • Pages: 32
  • Series: Working Paper No. 1999/087
  • Volume: 1999
  • Issue: 087
  • DOI: https://doi.org/10.5089/9781451851007.001
  • ISBN: 9781451851007
  • ISSN: 1018-5941

Subject areas and keywords

• Subject: Balance of payments, Current account surpluses, Defense spending, Econometric analysis, Estimation techniques, Expenditure, Total expenditures
• Keywords: Current account surpluses, Defense spending, equation from the government spending equation, Estimation techniques, fiscal adjustment, Global, international tension, military spending, peace dividend, police expenditure, spending datum, spending-GDP ratio, Total expenditures, WP

Source: "Military Spending, the Peace Dividend, and Fiscal Adjustment", IMF Working Papers 1999, 087 (July 1, 1999).

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• Military Spending, the Peace Dividend, and Fiscal Adjustment - WP/99/87
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