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Contents

SIPRI Yearbook 2018

SIPRI Yearbook 2018

II. Debt, oil price and military expenditure

Chapter:
4. Military expenditure
Source:
SIPRI Yearbook 2018
Author(s):
Dan Smith

For countries whose economies are dependent on the export of oil, the size of government oil revenues plays an important role in decisions on spending. The fall in the price of oil in 2014 (and the low oil price since then) has severely reduced oil revenues in these countries. This has led them to increasingly rely on alternative sources of finance (e.g. borrowing or debt) to fund spending, including military expenditure. However, substantial increases in debt to unsustainable levels can potentially hinder economic development.

Citation (MLA):
Smith, Dan. "4. Military expenditure." SIPRI Yearbook. SIPRI. Oxford: Oxford University Press. 2016. Web. 19 Dec. 2018. <http://www.sipriyearbook.org/view/9780198821557/sipri-9780198821557-chapter-4-div1-022.xml>.
Citation (APA):
Smith, D. (2016). 4. Military expenditure. In SIPRI, SIPRI Yearbook 2018: Armaments, Disarmament and International Security. Oxford: Oxford University Press. Retrieved 19 Dec. 2018, from http://www.sipriyearbook.org/view/9780198821557/sipri-9780198821557-chapter-4-div1-022.xml
Citation (Chicago):
Smith, Dan. "4. Military expenditure." In SIPRI Yearbook 2018: Armaments, Disarmament and International Security, SIPRI. (Oxford: Oxford University Press, 2016). Retrieved 19 Dec. 2018, from http://www.sipriyearbook.org/view/9780198821557/sipri-9780198821557-chapter-4-div1-022.xml
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