Sizing up the Peace Dividend: Economic Growth and Military Spending in the United States, 1948–1996

Journal Article (Journal Article)

We examine the relationship between military expenditures and economic growth in the United States from 1948 to 1990, in order to gauge the potential peace dividend. Our main results suggest that military spending is a significant drain on the economy. We then examine the implications of a restructured international system for U.S. military expenditures and their resultant impact on economic growth in the 1990s. Simulations of Democratic and Republican proposals for cuts in defense spending suggest increases in economic output of between 2.5% and 4.5% over the period 1993–96. © 1992, American Political Science Association. All rights reserved.

Full Text

Duke Authors

Cited Authors

  • Ward, MD; Davis, DR

Published Date

  • January 1, 1992

Published In

Volume / Issue

  • 86 / 3

Start / End Page

  • 748 - 755

Electronic International Standard Serial Number (EISSN)

  • 1537-5943

International Standard Serial Number (ISSN)

  • 0003-0554

Digital Object Identifier (DOI)

  • 10.2307/1964136

Citation Source

  • Scopus