초록

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Abstract ▼ AI-Helper

The purpose of this paper is to analyse the effects of defense expenditure(1970~2010) on economic growth, investment and export in Korea. On the bases of the peace dividend argument, some people suggest that South Korea should reduce its military expenditures for economic growth. The economic effe...

The purpose of this paper is to analyse the effects of defense expenditure(1970~2010) on economic growth, investment and export in Korea. On the bases of the peace dividend argument, some people suggest that South Korea should reduce its military expenditures for economic growth. The economic effects of defense spending in South korea are a significant concern for scholars as well as policymakers. We examined the economic effects of defense spending on growth, investment and export using three econometric models. According to the empirical test, the effects of South Korean defense spending(1970~2000) on growth and export are statistically insignificant but on investment is negative and statistically significant. For the period 1970~2005, the effects of defense spending on growth and investment are statistically insignificant but significant and positive on export. For the period 1970~2010, the effects of defense spending on growth and export are positive and statistically significant but not significant on investment. We assume that allowing private sector to collaborate with military sector in R&D would have a positive spinoff effect. Military R&D expenditures for joint research between government and private enterprises should be increased for economic growth, investment and export.

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