Effects of Military Spending on Inclusive Growth in Central African Countries

This study aims to examine the effects of military spending on inclusive growth in central african countries. The paper uses a sample of 6 CEMAC countries from different sources (WDI and WGI databases) for the period 1990-2022 to carry out the analysis. Using the instrumental variables (IV) method, we establish the causal link between military spending and inclusive growth, demonstrating that the latter exerts a negative and significant effect on inclusive growth in the CEMAC region. To consolidate these findings, we subjected our results to a robustness test using the GMM estimation method, thus confirming the negative effect of military spending on inclusive growth in the CEMAC zone. In view of these findings, Central African countries need to improve the quality of their institutions. Based on these findings, a few non- exhaustive policy suggestions can be made to promote inclusive growth in Africa.