<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2248-6046</journal-id>
<journal-title><![CDATA[Revista Finanzas y Política Económica]]></journal-title>
<abbrev-journal-title><![CDATA[Finanz. polit. econ.]]></abbrev-journal-title>
<issn>2248-6046</issn>
<publisher>
<publisher-name><![CDATA[Universidad Católica de Colombia]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2248-60462021000100077</article-id>
<article-id pub-id-type="doi">10.14718/revfinanzpolitecon.v13.n1.2021.4</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[The Asymmetric Relationship Between Military Expenditure, Economic Growth and Industrial Productivity: An Empirical Analysis of India, China and Pakistan Via the NARDL Approach]]></article-title>
<article-title xml:lang="es"><![CDATA[Relación asimétrica entre el gasto militar, el crecimiento económico y la productividad industrial: un análisis empírico de India, China y Pakistán implementando el método NARDL]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Aijaz Syed]]></surname>
<given-names><![CDATA[Aamir]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Memorial University  ]]></institution>
<addr-line><![CDATA[Lucknow ]]></addr-line>
<country>India</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2021</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2021</year>
</pub-date>
<volume>13</volume>
<numero>1</numero>
<fpage>77</fpage>
<lpage>97</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S2248-60462021000100077&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S2248-60462021000100077&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S2248-60462021000100077&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This research work aims to verify how military expenditure promotes economic growth and industrial productivity, as suggested by the Military Keynesianism postulate. The NARDL method is employed to achieve the above objective on the panel data of India, China, and Pakistan, covering the period between 1990 and 2018. The study finds that the positive and negative impact of military expenditure has a significant positive and negative effect on economic growth in the long run for China and India; however, in the short-run, only positive impact favors economic growth. Thus, there is a symmetric effect in the short-run and an asymmetric impact in the long-run. This asymmetric result supports the work of Military Keynesianism, helping policymakers in devising appropriate macro-economic policies. JEL Classification: E6, F5, O3.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Este trabajo de investigación pretende comprobar cómo el gasto militar promueve el crecimiento económico y la productividad industrial, como sugiere el postulado militar keynesiano. El método NARDL se emplea para lograr el objetivo anterior en los datos de panel de India, China y Pakistán que cubren el período 1990-2018. El estudio encuentra que el impacto positivo y negativo del gasto militar tiene un efecto positivo y negativo significativo en el crecimiento económico a largo plazo para China e India; sin embargo, en el corto plazo, solo los impactos positivos afectan el crecimiento económico. Por lo tanto, existe un efecto simétrico en el corto plazo y un impacto asimétrico en el largo plazo. Este resultado asimétrico respalda el trabajo del keynesianismo militar, que ayuda a los legisladores a diseñar políticas macroeconómicas adecuadas.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Military Spending]]></kwd>
<kwd lng="en"><![CDATA[Economic Growth]]></kwd>
<kwd lng="en"><![CDATA[Asymmetric]]></kwd>
<kwd lng="en"><![CDATA[NARDL]]></kwd>
<kwd lng="en"><![CDATA[Military Keynesianism]]></kwd>
<kwd lng="es"><![CDATA[gasto militar]]></kwd>
<kwd lng="es"><![CDATA[crecimiento económico]]></kwd>
<kwd lng="es"><![CDATA[asimétrico]]></kwd>
<kwd lng="es"><![CDATA[NARDL]]></kwd>
<kwd lng="es"><![CDATA[keynesianismo militar]]></kwd>
</kwd-group>
</article-meta>
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