The spillover effects of military spending across superpowers using the TVP - VAR approach
Journal: Ho Chi Minh City Open University Journal of Science- Economics and Business Administration
Year: 2024

The amount of money spent on military activities across superpowers globally has generally caused significant concerns regarding military conflicts, the arms race, economic growth development, security, political stability, and governance. This paper investigates the spillover effects of military spending among the world’s largest spenders on military activities over the period 1997 - 2022. We use the advanced Time-Varying Parameter Vector Autoregressive (TVP-VAR) model to examine these effects,