01549cas a2200241 a 4500 AALejournalIMF010515 230101c9999 xx r poo 0 0eng d 15.00 USD 9781451957099 1020-7635 BD-DhAAL BD-DhAAL International Monetary Fund. Research Dept. IMF Staff papers, Volume 43 No. 1. Washington, D.C. : International Monetary Fund, 1996. 1 online resource (268 pages) IMF Staff Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper extends a standard growth model and obtains consistent panel data estimates of the growth retarding effects of military spending via its adverse impact on capital formation and resource allocation. Simulation experiments suggest that a substantial long-term 'peace dividend'-in the form of higher capacity output-may result from markedly lower military expenditure levels achieved in most regions during the late 1980s, and the further military spending cuts that would be possible if global peace could be secured. Mode of access: Internet IMF Staff Papers; IMF Staff Papers ; No. 1996/001 Full text available on IMF http://elibrary.imf.org/view/journals/024/1996/001/024.1996.issue-001-en.xml IMF e-Library