English, Article, Journal or magazine article edition: Defense R&D: Effects on Economic Growth and Social Welfare Chu, Angus C.; Lai, Ching-Chong

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/105097
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Defense R&​D: Effects on Economic Growth and Social Welfare
Author
  • Chu, Angus C.
  • Lai, Ching-Chong
Physical Description
  • preprint
Notes
  • In the US, defense R&​D share of GDP has decreased significantly since 1960. To analyze the implications on economic growth and welfare, we develop an R&​D-based growth model that features the commonly discussed crowding-out and spillover effects of defense R&​D on civilian R&​D. The model also captures the important effects of defense technology on (a) national security and (b) aggregate productivity via the spin-off effect resembling consumption public goods and productive public goods respectively. In this framework, economic growth is driven by market-based civilian R&​D as in standard R&​D growth models and government-financed public goods (i.e. defense R&​D) as in Barro (1990). We find that defense R&​D has an inverted-U-shape effect on growth, and the growth-maximizing level of defense R&​D is increasing in the spillover effect and in the spin-off effect. Also, there is a welfare-maximizing level of defense R&​D that is increasing in the security effect of national defense, and there exists a critical degree of this security effect below (above) which the welfare-maximizing level of defense R&​D is below (above) the growth-maximizing level.
  • defense R&​D; economic growth; public goods; social welfare
  • RePEc:pra:mprapa:16325
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment