Guns,highways and economic growth in the United States |
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| Institution: | 1. Department of Economics, University of Thessaly, Korai 43 str, 38333 Volos, Greece;2. Department of Economics, Aristotle University of Thessaloniki, 54124 Thessaloniki, Greece;1. Clinic of Medicine, Faculty of Veterinary Medicine, University of Thessaly, Trikalon Str 224, GR-43100 Karditsa, Greece;2. Laboratory of Pharmacology, School of Veterinary Medicine, Aristotle University of Thessaloniki, Greece;3. Companion Animal Clinic, School of Veterinary Medicine, Aristotle University of Thessaloniki, Greece;4. Department of Veterinary Public Health, National School of Public Health, 11513 Athens, Greece;1. University of Thessaly, School of Health Sciences, Department of Biochemistry & Biotechnology, Microbiology-Virology Laboratory, Larissa, Greece;2. University of Ioannina, Medical School, Department of Microbiology, Ioannina, Greece;1. Division of Materials Technology, National Technical University of Athens, Zografou Campus, Athens 15780, Greece;2. Department of Immunology & Histocompatibility, School of Medicine, University of Thessaly, Biopolis, Larissa 41110, Greece;1. University of Lausanne, IDHEAP, Switzerland;2. Sorbonne Graduate Business School, France |
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| Abstract: | Given its significant policy implications, the nexus between public expenditures and economic growth has been the subject of an extensive and often emotive theoretical and empirical debate. The nexus between two types of public expenditures and economic growth is examined in this paper using both linear and nonlinear causality tests. Both spending on highways and on defence are regarded, albeit with not the same intensity of conviction, as useful counter-cyclical policy instruments and as stimuli to economic growth. Findings reported herein from both linear and non-linear causality tests offer evidence in support for the growth enhancing properties of the former type of public spending but not so in the case of military expenditure. |
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