02005cas a2200265 a 4500 AALejournalIMF015824 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513509877 1018-5941 BD-DhAAL BD-DhAAL Clements, Benedict. Is Military Spending Converging Across Countries? : An Examination of Trends and Key Determinants / Benedict Clements, Sanjeev Gupta, Saida Khamidova. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (21 pages) IMF Working 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 studies the evolution of worldwide military spending during 1970-2018. It finds that military spending in relation to GDP is converging, but into three separate groups of countries. In the largest group, responsible for 90 percent of worldwide spending, outlays have remained stubbornly high. Military spending in developing economies reacts to improvements in security conditions and military spending in neighboring countries, suggesting that further increases in the peace dividend are possible. In developing economies, rising social spending tends to crowd out military outlays, but this is not the case in advanced economies. With social outlays projected to rise as developing countries look to achieve the Sustainable Development Goals (SDGs), military spending could come under pressure to fall further. Mode of access: Internet Gupta, Sanjeev. Khamidova, Saida. IMF Working Papers; Working Paper ; No. 2019/196 Full text available on IMF http://elibrary.imf.org/view/journals/001/2019/196/001.2019.issue-196-en.xml IMF e-Library