Effects of Military Costs on Eliminating Foreign Debts in Developing Countries
Subject Areas : Labor and Demographic Economics
Keywords: Military Costs, Foreign Debts, National Income,
Abstract :
In developing countries, the amount of foreign debts is high, while their military costs have been increased in recent decades. In this article, the effects of military costs and national income on foreign debts have been investigated in 77 developing countries during 1993-2007, using GMM. Results show military cost has positive effect (0.33) and national income has negative effect (-0.38) on foreign debts.
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