Investment in research and development compared to military expenditure: is research worthwhile?
Article
Article Title | Investment in research and development compared to military expenditure: is research worthwhile? |
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ERA Journal ID | 30484 |
Article Category | Article |
Authors | Biswas, Raaj Kishore (Animator), Kabir, Enamul (Author) and Rafi, Refat Bin Reza (Author) |
Journal Title | Defence and Peace Economics |
Journal Citation | 30 (7), pp. 846-857 |
Number of Pages | 13 |
Year | 2019 |
Place of Publication | United Kingdom |
ISSN | 1024-2694 |
1476-8267 | |
Digital Object Identifier (DOI) | https://doi.org/10.1080/10242694.2018.1477235 |
Web Address (URL) | https://www.tandfonline.com/doi/pdf/10.1080/10242694.2018.1477235?needAccess=true |
Abstract | Both research and development (R&D) and military expenditure are pivotal areas for any country’s economy. However, most countries tend to spend more on military because of global insecurity and power politics. Nevertheless, this study shows the merit of R&D investment and how it contributes to the national human capital. An analysis was undertaken on the gap between R&D and military expenditure considering the Human Development Index (HDI) and Gross Domestic Product (GDP) of 76 countries for a period of 15 years (2000–2014). Mixed effect models were applied to adjust the effect of six different continents. The results showed that HDI has a positive bi-directional significant relationship with higher R&D investment. National spending on R&D builds human capital, which in turn contributes to public development over the years, unlike military expenditure that only marginally contributes towards GDP and makes no contribution to HDI. |
Keywords | HDI; GDP; human capital; investment gap; research; defense; investment; spending; development; military |
ANZSRC Field of Research 2020 | 389999. Other economics not elsewhere classified |
Public Notes | Files associated with this item cannot be displayed due to copyright restrictions. |
Byline Affiliations | University of New South Wales |
School of Agricultural, Computational and Environmental Sciences | |
University of Dhaka, Bangladesh | |
Institution of Origin | University of Southern Queensland |
https://research.usq.edu.au/item/q4y39/investment-in-research-and-development-compared-to-military-expenditure-is-research-worthwhile
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