Demystifying the Peace Dividend

By 1998 global military expenditures had been reduced by more than one-third of the amount spent a decade earlier before the Cold War finally ended and when there had been high hopes for a peace dividend. The objective of the book, an edited volume published by the Bonn International Center for Conversion (BICC), is to shed more light on the nature of the peace dividend, beyond the expectations it engendered. What does, or did, it comprise in reality? Did peace dividends emerge at all, or have they receded or vanished altogether since? The book seeks to unveil the myths and realities of the peace dividend by attempting to determine whether there is a direct link between reduced military expenditures and positive socioeconomic benefits, or whether longer time frames and the complexity of political processes must be taken into consideration to effectively grasp the dividend in its entirety. Eight case studies reveal the particularities of each country: the United States, South Africa, Germany, Russia, Guatemala, Nigeria, China and Pakistan. This is the first volume of BICC’s new book series entitled ‘BICC Disarmament and Conversion Studies’. The series will deal with the various aspects of conversion.