아태지역의 군사비 결정요인에 대한 시계열 횡단면 분석 = Understanding the Determinants of Military Spending in the Asia Pacific: A Time-Series Cross-Section Analysis

다국어 초록 (Multilingual Abstract)

The 2008 U.S. financial meltdown and the Eurozone crises are arguably reshuffling the previous distribution of power in the global and Asia Pacific contexts. Using a time-series cross-section model, this article analyzed the determinants of military spending of 38 Asia Pacific countries between 1970 and 2007 as part of the efforts to understand the regional balance of power. Main finding is that military spending in this region was significantly, consistently, and positively affected by neighboring nations’ military budgets. Also it was positively associated with the rate of economic growth and the level of income, whereas negatively related to the degree of economic openness. Thus this analysis shows that both the arms race model and the theory of market peace prove compelling in explaining the dynamics of military spending in the Asia Pacific.

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