DETERMINANT OF DEFENSE EXPENDITURE IN THAILAND: AN ADRL APPROACH FOR ANALYSIS OF 1992-2022
DOI:
https://doi.org/10.14456/acsr.2024.7Keywords:
Defense Budgeting in Thailand, Defense Expenditure in Thailand, ARDL for Defense Budgeting, Military Budgeting Theory, Thailand Military Budget PolicyAbstract
A nation's defense budget reveals its security anxieties and projected military strength. While Thailand ranked 27th globally in 2022, 3rd in Southeast of Defense spending, the value and necessity are a public debate, and the factors that related are crucial in political science and economics due to their significant impact on the nation's economy and society. Understanding defense expenditure is a vital to public policy and other fields, encompassing studies on its connection to economic impact, its key determinants, and its spending patterns. This paper delves into how Thailand's defense expenditure from 1992-2022, has been shaped by both internal and external factors. Using an Autoregressive Distributed Lag (ARDL), result explores how adapted model from the neo-classical perspective, Keynesian and other theories influence military spending in Thailand. Results of the study illustrates the determinants of defense expenditure in Thailand can be extended to four factors. Economic growth, national security concerns, political factors like protests and coups all play crucial roles in determining how much Thailand invests in its military, and population growth. The proposed model helps identify how changes in GDP, income inequality, external threats, and political status impact defense budgeting. By estimating the coefficients, the ARDL model can provide insights into the relative significance of these factors in determining the defense budget policy and reforms. Moreover, findings contribute new knowledge to the field of public policy and economic for domestic and aboard A propose model can be alternative tools for effective budget allocation and reforms.
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