-1=e^ipi
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Ploting ln GDP per capita PPP vs military expenditure as a percentage of GDP for the developed G20 countries excluding the USA (the USA is an outlier) and performing a quadratic fit suggests that GDP per capita is optimized with military expenditure is ~ 1.6% of GDP. If you take into account the loss of consumption due to higher military expenditure, then consumption is optimized when military expenditure is ~1.35% of GDP. If you consider the geographic isolation of Canada, a 1% GDP military...
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expenditure level seems reasonable. I see no reason Canada should commit to the 2% military expenditure NATO target. This is pretty weak empirical evidence, though better than nothing. A cross-country regression might be a good way to take into account the positive externalities associated with military expenditure.
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expenditure level seems reasonable. I see no reason Canada should commit to the 2% military expenditure NATO target. This is pretty weak empirical evidence, though better than nothing. A cross-country regression might be a good way to take into account the positive externalities associated with military expenditure.
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