Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 24, 2023 erstellt
Description:
This study examines whether there is convergence in military expenditures among NATO countries by using Philips and Sul (2007) convergence methodology. We obtained the primary dataset of 27 NATO member countries between 2009 and 2021 for their military expenditures to accomplish this. The results show no convergence between the military expenditures of NATO member states. In addition, although these 27 member countries are divergent, the analysis also identified three convergent clubs among NATO members with exciting patterns and trends in their military expenditures