Does military expenditure determine Fiji's exploding debt levels?

Narayan, Paresh Kumar and Narayan, Seema 2008, Does military expenditure determine Fiji's exploding debt levels?, Defence and peace economics, vol. 19, no. 1, pp. 77-87.

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Title Does military expenditure determine Fiji's exploding debt levels?
Author(s) Narayan, Paresh Kumar
Narayan, Seema
Journal name Defence and peace economics
Volume number 19
Issue number 1
Start page 77
End page 87
Publisher Routledge
Place of publication London, England
Publication date 2008
ISSN 1024-2694
1476-8267
Keyword(s) military expenditure
GDP
debt
cointegration
Fiji
Summary 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.
Language eng
Field of Research 140305 Time-Series Analysis
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2008
Copyright notice ©2008, Taylor & Francis
Persistent URL http://hdl.handle.net/10536/DRO/DU:30017082

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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