Fig 1.
Military expenditure as a share of GDP.
Source: Self-elaboration according to NATO data.
Table 1.
Literature review summary.
Fig 2.
Military expenditure as a share of GDP from 2005 to 2018.
Source: Self-elaboration according to NATO data.
Table 2.
Distribution of defence expenditure of the NATO’s countries (by main categories and percentage of the total).
Table 3.
Summary statistics.
Table 4.
Levin–Lin–Chu unit root test.
Table 5.
Dynamic panel-data estimation.
Table 6.
Arellano -Bond test for zero autocorrelation in first differenced errors.
Table 7.
Levin–Lin–Chu unit root test.
Table 8.
Dynamic panel-data estimation.
Table 9.
Sargan test.
Table 10.
Levin–Lin–Chu unit root test.
Table 11.
Dynamic panel-data estimation.
Table 12.
Arellano—Bond test for zero autocorrelation in first differenced errors.
Table 13.
Levin–Lin–Chu unit root test.
Table 14.
Dynamic panel-data estimation.
Table 15.
Sargan test.
Table 16.
Levin–Lin–Chu unit root test.
Table 17.
Dynamic panel-data estimation.
Table 18.
Sargan test.
Table 19.
Levin–Lin–Chu unit root test.
Table 20.
Dynamic panel-data estimation.
Table 21.
Sargan test.
Table 22.
Statistical contrast.
Table 23.
Comparative of results dynamic panel data model.