{"title":"The arms trade","authors":"P. Levine, Ronald Smith","doi":"10.1111/1468-0327.00024","DOIUrl":null,"url":null,"abstract":"The arms trade is highly controversial and raises difficult policy issues. The controversies tend to concentrate on the moral, military and political dimensions of arms exports decisions. Quite a lot of light can be shed on this murky market by asking basic economic questions and using standard economic models. We begin with a structured economic description of the evolution of the international arms market in terms of the factors that influence demand and supply and thus prices and quantities. Then we review the policy issues faced by EU members: in particular, whether a common control regime is needed to harmonize their regulation of arms exports. To address these policy issues, we present some models of the market that we have developed and examine their implications for the interesting interactions that characterize the trade. Copyright Centre for Economic Policy Research, Centre for Economic Studies, Maison des Sciences de l'Homme 1997.","PeriodicalId":47772,"journal":{"name":"Economic Policy","volume":null,"pages":null},"PeriodicalIF":4.5000,"publicationDate":"1997-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"45","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic Policy","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1111/1468-0327.00024","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 45
Abstract
The arms trade is highly controversial and raises difficult policy issues. The controversies tend to concentrate on the moral, military and political dimensions of arms exports decisions. Quite a lot of light can be shed on this murky market by asking basic economic questions and using standard economic models. We begin with a structured economic description of the evolution of the international arms market in terms of the factors that influence demand and supply and thus prices and quantities. Then we review the policy issues faced by EU members: in particular, whether a common control regime is needed to harmonize their regulation of arms exports. To address these policy issues, we present some models of the market that we have developed and examine their implications for the interesting interactions that characterize the trade. Copyright Centre for Economic Policy Research, Centre for Economic Studies, Maison des Sciences de l'Homme 1997.
期刊介绍:
Economic Policy provides timely and authoritative analyses of the choices confronting policymakers. The subject matter ranges from the study of how individual markets can and should work to the broadest interactions in the world economy. Economic Policy features: Analysis of key issues as they emerge Views of top international economists Frontier thinking without technical jargon Wide-reaching coverage of worldwide policy debate