The Asymmetric Relationship Between Military Expenditure, Economic Growth and Industrial Productivity: An Empirical Analysis of India, China and Pakistan Via the NARDL Approach

This research work aims to verify how military expenditure promotes economic growth and industrial productivity, as suggested by the Military Keynesianism postulate. The NARDL method is employed achieve above objective on panel data of India, China, Pakistan, covering period between 1990 2018. study finds that positive negative impact has a significant effect in long run for China India; however, short-run, only favors growth. Thus, there symmetric short-run an asymmetric long-run. result supports Keynesianism, helping policymakers devising appropriate macro-economic policies.