By James E Payne, Anandi P Sahu
A quantity which analyzes the impact of defence spending on monetary progress in either constructed and constructing international locations in gentle of the dramatic alterations in modern protection wishes.
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Ad - effectiveness of J's military when J is a defender. (2) If J attacked L we would have: MiO) =M} (3) ML(O) = MLO (4) where ~d and aa are the military effectivenesses of L and J when L defends and J attacks. Define a nation's "ability to defend" as that nation's ability to prevent its adversary from disarming it without the adversary disarming itself, during a fight-to-the-finish war. 2. 2 shows that at the origin, both J and L are able to minimally defend against an attack from the adversary.
64 Charles H. 3 The Arms Rivalry Equilibrium A simple way to represent the arms rivalry equilibrium is to assume that the parties allocate resources to achieve a given level of security or attack cushion. Remaining resources are then allocated to civilian production. 4, we depict the arms rivalry equilibrium when L seeks an attack capability, but is frustrated due to resource limits. 4, L's reaction function eventually hits the resource constraint and the arms rivalry settles at point b where J can defend and L cannot attack.
Thus, with a reduction iri defense spending, technological considerations suggest the economy-wide growth rate will be improved. The conclusions are unclear because the signs and magnitudes of key parameters are not predictable from the theory. Further research involving estimation of the derived relationships is called for to help eliminate some possibilities and more accurately delineate predictions. Conclusions A two sector model of the economy composed of a civilian and a defense sector with technological change in both sectors and with defense spending acting as an externality in the civilian sector shows that the effect of a change in defense spending on the growth rate of the economy is not straightforward.