DETERMINANTS OF SOUTHEAST ASIAN MILITARY SPENDING IN THE POST-COLD WAR ERA: A DYNAMIC PANEL ANALYSIS

摘要

This study examines the demand of military expenditure among Southeast Asian countries since the end of the Cold War. By using a dynamic panel approach, I find that military spending in the region has been jointly determined by economic, strategic and socio-political factors. In particular, surging foreign debt burdens and the rise of China - two regional issues that gained prominence in the post-Cold War period - show their significance as determinants along with other generalist variables. The results therefore ask for the development of even-handed and region-sensitive approaches to studying military build-up in the region of Southeast Asia.