The Arms Industry is an area that is of huge concern to many people around the world. The economics of this hugely important industry are a vital strand that needs to be understood. This volume brings together contributors from all over the globe, such as Todd Sandler and Keith Hartley, and focuses on the important issues surrounding the Arms Trade such as: *the determinants of US military expenditure *alliance formation and expansion *new challenges to export controls This well-rounded, comprehensive book will be of huge interest to students and academics involved in the economics of defence, as well as more general studies of the defence industry. The book will also be an invaluable read for those with an interest in the Arms Industry such as policy-makers and corporate managers.

Paul Levine is Professor of Economics at the University of Surrey, UK. Ron Smith is Professor of Applied Economics at Birkbeck College, London, UK