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The Impact of Military Expenditure on the Economic Growth in Developing Countries: Evidence from Jordan

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Emerging Trends and Innovation in Business and Finance

Part of the book series: Contributions to Management Science ((MANAGEMENT SC.))

Abstract

Unquestionably, all nations’ top priorities are international peace and long-term, sustainable economic growth. The objective of this study is to scientifically assess how Jordan's military spending has affected economic development between 1970 and 2020. The current study defined a growth equation proposed by Solow based on the body of knowledge already available on growth theories. As a result, we add to the empirical literature in this work by utilizing the OLS approach to investigate the connection between military spending and economic growth. As a result, the goal of this study is to examine the relationship between military spending and economic development in Jordan from 1970 to 2020. Jordan has a rapidly rising economy and a middle-level military budget. According to the empirical findings, military spending has little effect on GDP. Additionally, the result indicates that the macro factors each represents (GDP per Capita, Gross Capital Formation, and Population Growth) have a favorable influence on GDP in Jordan.

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Author information

Authors and Affiliations

  1. School of Business, Finance and Banking Department, Al-Bayt University, P.O.BOX 130040, Mafraq, 25113, Jordan

    Mohammad Ali Al-Afeef

  2. Al Zaytoonah University of Jordan, Amman, Jordan

    Ala’a Fouad Al-Dweik & Ayman Abdalmajeed Alsmadi

  3. Applied Science University, Amman, Jordan

    Anwar Al-Gasaymeh

  4. Isra University, Amman, Jordan

    Najed Alrawashdeh

Authors
  1. Mohammad Ali Al-Afeef
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  2. Ala’a Fouad Al-Dweik
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  3. Ayman Abdalmajeed Alsmadi
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  4. Anwar Al-Gasaymeh
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  5. Najed Alrawashdeh
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Corresponding author

Correspondence to Mohammad Ali Al-Afeef .

Editor information

Editors and Affiliations

  1. Department of Finance and Accounting, Lebanese American University, Byblos, Lebanon

    Rim El Khoury

  2. LaRGE Research Center, EM Strasbourg Business School, Strasbourg, France

    Nohade Nasrallah

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Al-Afeef, M.A., Al-Dweik, A.F., Alsmadi, A.A., Al-Gasaymeh, A., Alrawashdeh, N. (2023). The Impact of Military Expenditure on the Economic Growth in Developing Countries: Evidence from Jordan. In: El Khoury, R., Nasrallah, N. (eds) Emerging Trends and Innovation in Business and Finance. Contributions to Management Science. Springer, Singapore. https://doi.org/10.1007/978-981-99-6101-6_66

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  • DOI: https://doi.org/10.1007/978-981-99-6101-6_66

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  • Print ISBN: 978-981-99-6100-9

  • Online ISBN: 978-981-99-6101-6

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