Contents

SIPRI Yearbook 2017

SIPRI Yearbook 2017

III. Oil price shocks and military expenditure

Chapter:
9. Military expenditure
Source:
SIPRI Yearbook 2017
Author(s):
Nan Tian

The relationship between the price of oil and macroeconomic performance is the subject of much debate.1 The dynamics of this relationship are relevant to military spending as such spending is partially correlated to economic well-being, which in oil exporting countries is driven by the price of oil.2 Comparisons are often made between oil price shocks and military spending but due to the brevity of historical oil price slumps (e.g. 1998–99 and 2008–2009) and various other factors, it has been difficult to identify a causal relationship. Nonetheless, oil revenues are thought to play a role in determining the level of military spending in oil exporting economies, as highlighted in many African, South American and Middle Eastern countries where the rise in military spending over the past 10 years is correlated with high oil prices.

Citation (MLA):
Tian, Nan. "9. Military expenditure." SIPRI Yearbook. SIPRI. Oxford: Oxford University Press. 2016. Web. 16 Feb. 2025. <https://www.sipriyearbook.org/view/9780198811800/sipri-9780198811800-chapter-9-div1-47.xml>.
Citation (APA):
Tian, N. (2016). 9. Military expenditure. In SIPRI, SIPRI Yearbook 2017: Armaments, Disarmament and International Security. Oxford: Oxford University Press. Retrieved 16 Feb. 2025, from https://www.sipriyearbook.org/view/9780198811800/sipri-9780198811800-chapter-9-div1-47.xml
Citation (Chicago):
Tian, Nan. "9. Military expenditure." In SIPRI Yearbook 2017: Armaments, Disarmament and International Security, SIPRI. (Oxford: Oxford University Press, 2016). Retrieved 16 Feb. 2025, from https://www.sipriyearbook.org/view/9780198811800/sipri-9780198811800-chapter-9-div1-47.xml
The SIPRI Yearbook online requires a subscription or purchase to access its full text (purchase of a print copy of the 2010-2016 yearbooks also provides access to some content). Unsubscribed users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please log in to access full text content, or find out more about how to subscribe.
If you think you should have access to this service, please contact your librarian.