Country Survey I–Military Spending in India1
- 1 December 1991
- journal article
- research article
- Published by Taylor & Francis in Defence Economics
- Vol. 3 (1) , 41-63
- https://doi.org/10.1080/10430719108404714
Abstract
After a brief survey of the Indian economy, we survey the supply and demand of military expenditures in India over the last four decades. The causes of military expenditures appear to include regional rivalries and protracted conflicts, but it has proven difficult to delineate these with empirical models. The effects of military spending in India on economic growth appear to be benign, despite much speculation to the contrary. However, the opportunity costs of defence spending are shown to be considerable. We conclude with speculation about the role of debt and debt servicing in retarding future economic growth in India. We also speculate about the potential for the creation of a war economy in India.Keywords
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