The Experts below are selected from a list of 5304 Experts worldwide ranked by ideXlab platform
Simplice A Asongu - One of the best experts on this subject based on the ideXlab platform.
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global tourism and waves of terror perspectives from Military Expenditure
Journal of Policy Research in Tourism Leisure and Events, 2020Co-Authors: Simplice A Asongu, Paul N AchaanyiAbstract:This study complements existing literature by investigating how Military Expenditure can modulate the effect of terrorism externalities on tourism. The geographical and temporal scopes are 163 coun...
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the role of inclusive development and Military Expenditure in modulating the effect of terrorism on governance
Journal of Economic Studies, 2019Co-Authors: Simplice A Asongu, Jacinta C Nwachukwu, Sara Le RouxAbstract:The purpose of this paper is to investigate the role of inclusive human development and Military Expenditure in modulating the effect of terrorism on governance.,It is based on 53 African countries for the period 1998–2012 and interactive generalised method of moments is employed. Six governance indicators from the World Bank and two terrorism variables are used, namely, domestic and transnational terrorism dynamics.,The following main findings are established. There is a negative net effect on governance (regulation quality and corruption-control) when inclusive human development is used to reduce terrorism. There is a positive net impact on governance (voice and accountability and rule of law) when Military Expenditure is used to reduce domestic terrorism.,The authors have complemented the sparse literature on the use of policy variables to mitigate the effect of policy syndromes on macroeconomic outcomes.
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Global Tourism and Waves of Terror: Perspectives from Military Expenditure
2019Co-Authors: Simplice A Asongu, Paul N. Acha-anyiAbstract:This study complements existing literature by investigating how Military Expenditure can modulate the effect of terrorism externalities on tourism. The geographical and temporal scopes are 163 countries and the period 2010-2015. The empirical evidence is based on negative binomial regressions. Terrorism externalities are measured in terms of terror-related incidents, injuries, fatalities and damaged properties. We find that Military Expenditure significantly lessens the destructive impact of these terror-related incidents in order to induce positive net effects on tourism. This finding is robust to all measurements of terrorism. Homicides and violent demonstrations reduce tourists’ arrivals whereas the rate of incarceration of convicted offenders has the opposite effect. The analysis is extended to income levels and regions in order to provide more opportunities for policy implications. Justifications for differences in these comparative tendencies are discussed.
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mitigating capital flight through Military Expenditure insight from 37 african countries
Research in International Business and Finance, 2017Co-Authors: Simplice A Asongu, Joseph AmankwahamoahAbstract:The purpose of this study is to assess the thresholds at which Military Expenditure modulates the effect of terrorism on capital flight. We employed a panel data of 37 African countries from 1996-2010.The empirical evidence was based on: (i) baseline contemporary and non-contemporary OLS, (ii) contemporary and non-contemporary fixed effects regressions to account for the unobserved heterogeneity, (iii) the Generalised Method of Moments to account for the capital flight trap and (iv) Quantile Regressions (QR) to account for initial levels of capital flight. The study found that the thresholds are apparent exclusively in Quantile Regressions with Military Expenditure thresholds ranging from: 4.224 to 5.612 for domestic terrorism, 5.734 to 7.363 for unclear terrorism and 4.710 to 6.617 for total terrorism. No thresholds are apparent in transnational terrorism related regressions. Depending on the terrorist target, the findings broadly show that a critical mass of between 4.224 and 7.363 of Military Expenditure as a percentage of GDP is needed to reverse the negative effect of terrorism on capital flight. In spite of the growing consensus of the need to utilise Military Expenditure to help combat terrorism, our understanding of the threshold at which Military Expenditure completely dampens the negative effect of terrorism on capital flight remains largely underexplored. We capitalize on panel data of 37 African countries to address this lacuna in our understanding of this important issue.
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the comparative african economics of inclusive development and Military Expenditure in fighting terrorism
Social Science Research Network, 2017Co-Authors: Simplice A Asongu, Vanessa S Tchamyou, Ndemaze Asongu, Nina TchamyouAbstract:This study investigates the role of inclusive human development and Military Expenditure in fighting terrorism in 53 African countries for the period 1998-2012. The empirical evidence is based on contemporary, non-contemporary and instrumental variable Fixed Effects regressions. Inclusive development is not a sufficient condition for the fight against terrorism whereas Military Expenditure can be effectively employed to mitigate the phenomenon. Significant negative effects are established only when endogeneity is accounted for by means of non-contemporary and instrumental-variables approaches. Hence, the policy effectiveness of employed tools is contingent on whether they are engaged proactively (i.e. non-contemporarily) or not. From the findings, the propensity of Military Expenditure to fight transnational terrorism is higher in: (i) middle income countries vis-a-vis their low income counterparts; (ii) oil-rich countries compared to oil-poor countries and (iii) Christian-dominated countries vis-a-vis their Islam-oriented counterparts. Furthermore Military Expenditure is also more effective at combating domestic and transnational terrorism in: (i) North African countries vis-a-vis their sub-Saharan Africa counterparts; (ii) landlocked countries compared to countries that are open to the sea and (iii) politically-stable countries vis-a-vis their politically-unstable counterparts. Contributions to the comparative economics are discussed. Practical and theoretical contributions are also provided.
Paresh Kumar Narayan - One of the best experts on this subject based on the ideXlab platform.
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a panel data analysis of the Military Expenditure external debt nexus evidence from six middle eastern countries
Journal of Peace Research, 2009Co-Authors: Russell Smyth, Paresh Kumar NarayanAbstract:While a number of studies examine the nexus between Military Expenditure and economic growth, little consideration has been give to the effect of Military Expenditure on external debt. This article examines the impact of Military Expenditure and income on external debt for a panel of six Middle Eastern countries - Oman, Syria, Yemen, Bahrain, Iran, and Jordan - over the period 1988 to 2002. The Middle East represents an interesting study of the effect of Military Expenditure on external debt because it has one of the highest rates of arms imports in the world and it is one of the most indebted regions in the world. The study first establishes whether there is a long-run relationship between Military Expenditure, income, and external debt in the six countries using a panel unit root and panel cointegration framework and then proceeds to estimate the long-run and short-run effects of Military Expenditure and income on external debt. The study finds that external debt is elastic with respect to Military Expenditure in the long run and inelastic with respect to Military Expenditure in the short run. For the panel of six Middle Eastern countries, in the long run a 1% increase in Military Expenditure results in between a 1.1 % and 1.6% increase in external debt, while a 1% increase in income reduces external debt by between 0.6% and 0.8%, depending on the specific estimator employed. In the short run, a 1% increase in Military Expenditure increases external debt by 0.2%, while the effect of income on external debt is statistically insignificant.
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does Military Expenditure determine fiji s exploding debt levels
Social Science Research Network, 2008Co-Authors: Paresh Kumar Narayan, Seema NarayanAbstract:Fiji's total debt stands at 65% of GDP. Domestic debt constitutes 55% of GDP. The goal of this paper is to investigate whether Military Expenditure has contributed to Fiji's exploding debt levels over the period 1970 to 2005. Our empirical analysis, conducted within a cointegration and vector error-correction framework, suggests that, in the long-run, Military Expenditure has had a statistically significant positive impact on both external debt and domestic debt, while income has had a statistically significant positive impact on domestic debt and a statistically significant negative impact on external debt. We explain the reasons behind this finding and draw some policy implications.
Anke Hoeffler - One of the best experts on this subject based on the ideXlab platform.
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Military Expenditure in post conflict societies
Economics of Governance, 2006Co-Authors: Paul Collier, Anke HoefflerAbstract:Post-conflict situations face a high risk of reversion to conflict. We investigate the effect of Military Expenditure by the government during the first decade post-conflict on the risk of reversion. We contrast two theories as to the likely effects. In one, Military spending deters conflict by reducing the prospects of rebel success. In the other it acts as a signal to the rebels of government intentions. In the signalling model, low Military spending signals that the government intends to adhere to the terms of the peace settlement and so reduces the risk of renewed rebellion. We investigate the effects of post-conflict Military spending on the risk of conflict, using our existing models of Military Expenditure and of conflict risk. We find that, consistent with the signalling model, high Military spending post-conflict significantly increases the risk of renewed conflict. This effect of Military spending is distinctive to post-conflict period, and becomes progressively more pronounced over the decade.
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Military Expenditure threats aid and arms races
Social Science Research Network, 2002Co-Authors: Paul Collier, Anke HoefflerAbstract:Using global data for the period 1960-99, Collier and Hoeffler estimate neighborhood arms races. They find that the level of Military Expenditure is strongly influenced by the Expenditure of neighbors. The authors estimate an "arms race multiplier," finding that an initial exogenous increase in Military Expenditure by one country is more than doubled in both the originating country and its neighbor. An implication is that Military Expenditure is, to an extent, a "regional public bad." Potentially, there is an offsetting public good effect if rebellions are deterred by Military Expenditure. However, instrumenting for Military Expenditure, the authors find no deterrence effect of Military spending on the risk of internal conflict. So there appears to be no regional public good effect offsetting the public bad arising from a neighborhood arms race. This paper - a product of the Development Research Group - is part of a larger effort in the group to study the economics of conflict.
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Military Expenditure threats aid and arms races
2002Co-Authors: Paul Collier, Anke HoefflerAbstract:Using global data for the period 1960-99, the authors estimate neighborhood arms races. They find that the level of Military Expenditure is strongly influenced by the Expenditure of neighbors. The authors estimate an"arms race multiplier,"finding that an initial exogenous increase in Military Expenditure by one country is more than doubled in both the originating country and its neighbor. An implication is that Military Expenditure is, to an extent, a"regional public bad."Potentially, there is an offsetting public good effect if rebellions are deterred by Military Expenditure. However, instrumenting for Military Expenditure, the authors find no deterrence effect of Military spending on the risk of internal conflict. So there appears to be no regional public good effect offsetting the public bad arising from a neighborhood arms race.
Joseph Amankwahamoah - One of the best experts on this subject based on the ideXlab platform.
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mitigating capital flight through Military Expenditure insight from 37 african countries
Research in International Business and Finance, 2017Co-Authors: Simplice A Asongu, Joseph AmankwahamoahAbstract:The purpose of this study is to assess the thresholds at which Military Expenditure modulates the effect of terrorism on capital flight. We employed a panel data of 37 African countries from 1996-2010.The empirical evidence was based on: (i) baseline contemporary and non-contemporary OLS, (ii) contemporary and non-contemporary fixed effects regressions to account for the unobserved heterogeneity, (iii) the Generalised Method of Moments to account for the capital flight trap and (iv) Quantile Regressions (QR) to account for initial levels of capital flight. The study found that the thresholds are apparent exclusively in Quantile Regressions with Military Expenditure thresholds ranging from: 4.224 to 5.612 for domestic terrorism, 5.734 to 7.363 for unclear terrorism and 4.710 to 6.617 for total terrorism. No thresholds are apparent in transnational terrorism related regressions. Depending on the terrorist target, the findings broadly show that a critical mass of between 4.224 and 7.363 of Military Expenditure as a percentage of GDP is needed to reverse the negative effect of terrorism on capital flight. In spite of the growing consensus of the need to utilise Military Expenditure to help combat terrorism, our understanding of the threshold at which Military Expenditure completely dampens the negative effect of terrorism on capital flight remains largely underexplored. We capitalize on panel data of 37 African countries to address this lacuna in our understanding of this important issue.
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Military Expenditure terrorism and capital flight insights from africa
MPRA Paper, 2016Co-Authors: Simplice A Asongu, Joseph AmankwahamoahAbstract:In spite of the growing consensus of the need to utilise Military Expenditure to help combat terrorism, our understanding of the threshold at which Military Expenditure reduces the effect of terrorism stemming from capital flight remains largely underexplored. We employed a panel data of 37 African countries from 1996-2010 and determined that the thresholds are apparent exclusively in Quantile Regressions with Military Expenditure thresholds ranging from: 4.224 to 5.612 for domestic terrorism, 5.734 to 7.363 for unclear terrorism and 4.710 to 6.617 for total terrorism. No thresholds are apparent in transnational terrorism related regressions. Depending on the terrorist target, the findings broadly show that a critical mass of between 4.224 and 7.363 of Military Expenditure as a percentage of GDP is needed to reverse the effects of terrorism stemming from capital flight. Implications for public policy are discussed.
Paul Collier - One of the best experts on this subject based on the ideXlab platform.
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Military Expenditure in post conflict societies
Economics of Governance, 2006Co-Authors: Paul Collier, Anke HoefflerAbstract:Post-conflict situations face a high risk of reversion to conflict. We investigate the effect of Military Expenditure by the government during the first decade post-conflict on the risk of reversion. We contrast two theories as to the likely effects. In one, Military spending deters conflict by reducing the prospects of rebel success. In the other it acts as a signal to the rebels of government intentions. In the signalling model, low Military spending signals that the government intends to adhere to the terms of the peace settlement and so reduces the risk of renewed rebellion. We investigate the effects of post-conflict Military spending on the risk of conflict, using our existing models of Military Expenditure and of conflict risk. We find that, consistent with the signalling model, high Military spending post-conflict significantly increases the risk of renewed conflict. This effect of Military spending is distinctive to post-conflict period, and becomes progressively more pronounced over the decade.
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war and Military spending in developing countries and their consequences for development
The Economics of Peace and Security Journal, 2006Co-Authors: Paul CollierAbstract:That Military Expenditure and conflict have adverse consequences for development is unsurprising but important. The policy challenge is to reduce them. I have suggested that substantial components of Military Expenditure could be reduced without jeopardizing security interests. Military Expenditure does not appear to be an effective deterrent of rebellion, and, if it is reduced in a coordinated manner across a region then external security interests would be unaffected. The resources released by reduced Military Expenditure could be used to increase growth rates, and this in turn would gradually but effectively reduce the risk of internal conflict. Development, not Military deterrence, is the best strategy for a safer society.
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Military Expenditure threats aid and arms races
Social Science Research Network, 2002Co-Authors: Paul Collier, Anke HoefflerAbstract:Using global data for the period 1960-99, Collier and Hoeffler estimate neighborhood arms races. They find that the level of Military Expenditure is strongly influenced by the Expenditure of neighbors. The authors estimate an "arms race multiplier," finding that an initial exogenous increase in Military Expenditure by one country is more than doubled in both the originating country and its neighbor. An implication is that Military Expenditure is, to an extent, a "regional public bad." Potentially, there is an offsetting public good effect if rebellions are deterred by Military Expenditure. However, instrumenting for Military Expenditure, the authors find no deterrence effect of Military spending on the risk of internal conflict. So there appears to be no regional public good effect offsetting the public bad arising from a neighborhood arms race. This paper - a product of the Development Research Group - is part of a larger effort in the group to study the economics of conflict.
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Military Expenditure threats aid and arms races
2002Co-Authors: Paul Collier, Anke HoefflerAbstract:Using global data for the period 1960-99, the authors estimate neighborhood arms races. They find that the level of Military Expenditure is strongly influenced by the Expenditure of neighbors. The authors estimate an"arms race multiplier,"finding that an initial exogenous increase in Military Expenditure by one country is more than doubled in both the originating country and its neighbor. An implication is that Military Expenditure is, to an extent, a"regional public bad."Potentially, there is an offsetting public good effect if rebellions are deterred by Military Expenditure. However, instrumenting for Military Expenditure, the authors find no deterrence effect of Military spending on the risk of internal conflict. So there appears to be no regional public good effect offsetting the public bad arising from a neighborhood arms race.