اثر هزينه هاي نظامي بر بدهي هاي خارجي در كشورهاي در حال توسعه

Effects of Military Costs on Eliminating Foreign Debts in Developing Countries

In developing countries, the amount of foreign debts is high, while their military costs haveʹbeen increased in recent decades. In this article, the effects of military costs and national income on foreign debts have been investigated in 77 developing countries during 1993-2007, using GMM. Results show military cost has positive effect (0.33) and national income has negative effect (-0.38) on foreign debts.