000			01510nam a22001577a 4500
999			_c518758 _d518758
008			211101b ||||| |||| 00| 0 eng d
100			_aMohanty, R.K., Panda, S. and Bhuyan, B. _930046
245			_aDoes defence spending and its composition affect economic growth in India?
260			_aMargin: The Journal of Applied Economic Research
300			_a14(1), Feb, 2020: p.62-85
520			_aThe article investigates the relationship between economic growth and defence expenditure in India from 1970–1971 to 2015–2016. By using the Autoregressive Distributed Lag and Toda-Yamamoto Granger Causality approach, the empirical results find that defence expenditure has a positive and significant impact on economic growth in India. The study also finds that capital defence expenditure has a positive and significant effect on economic growth, while revenue defence expenditure does not have any substantial influence on it. The causality test confirms a bidirectional causality between defence expenditure and economic growth, while it finds a unidirectional causality that runs from capital defence expenditure to economic growth. The study suggests that defence spending, especially capital defence spending, should be encouraged to enhance economic growth in the Indian economy. – Reproduced
650			_aDefence expenditure, Economic growth, ARDL approach, India _928556
773			_aMargin: The Journal of Applied Economic Research
906			_aDEFENCE EXPENDITURE - INDIA
942			_cAR