Mathematical Model: The Long-Term Effects of Defense Expenditure on Economic Growth and the Criticism

Kennedy, Posma Sariguna Johnson and Tobing, Suzanna Josephine L. and Lumbantoruan, Rutman and Tampubolon, Emma and Heatubun, Adolf Bastian (2018) Mathematical Model: The Long-Term Effects of Defense Expenditure on Economic Growth and the Criticism. Journal of Physics. pp. 1-6.

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Abstract

This paper aims to form a mathematical model that can explain the influence ofnational defense budget on the economy through economic growth. The research method is byliterature review from the work of economists in making the production function model thatcan bring defense expenditure into the economic growth model. The model is two-sectoreconomic model, established to look at the effects of defense spending and the economy. Themodel of Ram based on the neoclassical production function approach. The externality effectof the military and non-military sectors is different, so, they are included in the productionfunction separately.

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