An overview / Warwick J. McKibbin -- Military expenditure and arms trade : trends and prospects / Saadet Deger -- Comments on chapter 2 / Daniel P. Hewitt -- Trends in world arms trade and spending and their implications / Daniel Gallik -- Comments on chapter 3 / Somnath Sen, Shinichi Ichimura -- Military spending in developing countries and official development assistance / Paul Armington and Jalaleddin Jalali -- The economics of arms reduction / Lawrence R. Klein -- Defence reductions in the United States in the 1990s / Murray Weidenbaum -- Comments on chapter 6 / Takashi Inoguchi, Jean-Claude Berthélemy -- The impact on the world economy of reductions in military expenditures and military arms exports / Warwick J. McKibbin and Stephan Thurman -- Economic consequences of lower military spending: some simulation results / Tamim Bayoumi, Daniel P. Hewitt, and Jerald Schiff -- Comments on chapter 8 / Kimio Uno, Sanjay Pradhan -- Some macroeconomic aspects of reductions in military expenditure / Simon Cunningham and Kenneth G. Ruffing -- Comments on chapter 9 / Akira Onishi -- A new international order and its implications for arms reductions / Robert S. McNamara -- Enhancing peace and development: foreign aid and military expenditure in developing countries / Nicole Ball -- Comments on chapter 11 / Raimo Väyrynen, Zhu Manli -- Economic incentives for demilitarization / Somnath Sen -- Comments on chapter 12 / Mihály Simai -- Arms reduction in the Middle East: between credibility and illusion / Amin Hewedy -- Comments on chapter 13 / Susumu Ishida -- Japan's ODA policies for a peace initiative / Takao Kawakami.