Little is done on the empirical analyses of the impact of defence expenditure on arms and economic growth. The few conducted concentrated on developed countries, which are exporters of arms. This study examines the short run and long run impact of arms importation on the economic growth in Nigeria, using ARDL model. Literature on defence expenditure and economic growth are often conflicting and inconclusive. These outcomes are due to the non-linear growth effects of defence and incorrect model specifications. The crucial growth effects of defence expenditure can be traced by properly controlling the interaction term. This paper examines the defence-arms interaction on Nigeria in the context of Aizeiman and Glick (2006) models. The result reveals that defence-arms interaction in Nigeria exerts negatively on the economic growth. It therefore recommends that defence R&D as well Defence Industrial Cooperation of Nigeria (DICON) should be properly financed and managed for efficiency and self-reliability.
Aminu, M. U., & Bakar, A. S. A. (2016). The Interactional Impact of Defence Expenditure and Arms Importation on Economic Growth in Nigeria: An Autoregressive Approach. International Journal of Economics and Financial Issues, 6(2), 538-543.
AMA
Aminu MU, Bakar ASA. The Interactional Impact of Defence Expenditure and Arms Importation on Economic Growth in Nigeria: An Autoregressive Approach. IJEFI. April 2016;6(2):538-543.
Chicago
Aminu, Muhammed Umar, and Abu Sufian Abu Bakar. “The Interactional Impact of Defence Expenditure and Arms Importation on Economic Growth in Nigeria: An Autoregressive Approach”. International Journal of Economics and Financial Issues 6, no. 2 (April 2016): 538-43.
EndNote
Aminu MU, Bakar ASA (April 1, 2016) The Interactional Impact of Defence Expenditure and Arms Importation on Economic Growth in Nigeria: An Autoregressive Approach. International Journal of Economics and Financial Issues 6 2 538–543.
IEEE
M. U. Aminu and A. S. A. Bakar, “The Interactional Impact of Defence Expenditure and Arms Importation on Economic Growth in Nigeria: An Autoregressive Approach”, IJEFI, vol. 6, no. 2, pp. 538–543, 2016.
ISNAD
Aminu, Muhammed Umar - Bakar, Abu Sufian Abu. “The Interactional Impact of Defence Expenditure and Arms Importation on Economic Growth in Nigeria: An Autoregressive Approach”. International Journal of Economics and Financial Issues 6/2 (April 2016), 538-543.
JAMA
Aminu MU, Bakar ASA. The Interactional Impact of Defence Expenditure and Arms Importation on Economic Growth in Nigeria: An Autoregressive Approach. IJEFI. 2016;6:538–543.
MLA
Aminu, Muhammed Umar and Abu Sufian Abu Bakar. “The Interactional Impact of Defence Expenditure and Arms Importation on Economic Growth in Nigeria: An Autoregressive Approach”. International Journal of Economics and Financial Issues, vol. 6, no. 2, 2016, pp. 538-43.
Vancouver
Aminu MU, Bakar ASA. The Interactional Impact of Defence Expenditure and Arms Importation on Economic Growth in Nigeria: An Autoregressive Approach. IJEFI. 2016;6(2):538-43.
