{"id":767,"date":"2020-04-03T11:12:18","date_gmt":"2020-04-03T11:12:18","guid":{"rendered":"https:\/\/ecodef-ihedn.fr\/maintien-condition-operationnelle-copy-2\/"},"modified":"2021-04-20T14:22:30","modified_gmt":"2021-04-20T14:22:30","slug":"depense-de-defense","status":"publish","type":"page","link":"https:\/\/ecodef-ihedn.fr\/en\/thematiques\/depense-de-defense\/","title":{"rendered":"Defence expenditure"},"content":{"rendered":"<div id=\"tdi_1\" class=\"tdc-zone\"><div class=\"tdc_zone tdi_2  wpb_row td-pb-row\"  >\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_2{\r\n                    min-height: 0;\r\n                }\n<\/style><div id=\"tdi_3\" class=\"tdc-row\"><div class=\"vc_row tdi_4  wpb_row td-pb-row\" >\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_4,\r\n                .tdi_4 .tdc-columns{\r\n                    min-height: 0;\r\n                }.tdi_4,\r\n\t\t\t\t.tdi_4 .tdc-columns{\r\n\t\t\t\t    display: block;\r\n\t\t\t\t}.tdi_4 .tdc-columns{\r\n\t\t\t\t    width: 100%;\r\n\t\t\t\t}.tdi_4:before,\r\n\t\t\t\t.tdi_4:after{\r\n\t\t\t\t    display: table;\r\n\t\t\t\t}\n<\/style><div class=\"vc_column tdi_6  wpb_column vc_column_container tdc-column td-pb-span12\">\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_6{\r\n                    vertical-align: baseline;\r\n                }.tdi_6 > .wpb_wrapper,\r\n\t\t\t\t.tdi_6 > .wpb_wrapper > .tdc-elements{\r\n\t\t\t\t    display: block;\r\n\t\t\t\t}.tdi_6 > .wpb_wrapper > .tdc-elements{\r\n\t\t\t\t    width: 100%;\r\n\t\t\t\t}.tdi_6 > .wpb_wrapper > .vc_row_inner{\r\n\t\t\t\t    width: auto;\r\n\t\t\t\t}.tdi_6 > .wpb_wrapper{\r\n\t\t\t\t    width: auto;\r\n\t\t\t\t    height: auto;\r\n\t\t\t\t}\n<\/style><div class=\"wpb_wrapper\" ><div class=\"vc_row_inner tdi_8  vc_row vc_inner wpb_row td-pb-row\" >\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_8{\r\n                    position: relative !important;\r\n                    top: 0;\r\n                    transform: none;\r\n                    -webkit-transform: none;\r\n                }.tdi_8,\r\n\t\t\t\t.tdi_8 .tdc-inner-columns{\r\n\t\t\t\t    display: block;\r\n\t\t\t\t}.tdi_8 .tdc-inner-columns{\r\n\t\t\t\t    width: 100%;\r\n\t\t\t\t}\n<\/style><div class=\"vc_column_inner tdi_10  wpb_column vc_column_container tdc-inner-column td-pb-span12\">\n<style scoped>\n\/* custom css - generated by TagDiv Composer *\/\n\n\/* custom css - generated by TagDiv Composer *\/\n.tdi_10{\r\n                    vertical-align: baseline;\r\n                }.tdi_10 .vc_column-inner > .wpb_wrapper,\r\n\t\t\t\t.tdi_10 .vc_column-inner > .wpb_wrapper .tdc-elements{\r\n\t\t\t\t    display: block;\r\n\t\t\t\t}.tdi_10 .vc_column-inner > .wpb_wrapper .tdc-elements{\r\n\t\t\t\t    width: 100%;\r\n\t\t\t\t}\n<\/style><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\" ><div class=\"td_block_wrap td_block_text_with_title tdi_11 tagdiv-type td-pb-border-top texte-cache td_block_template_5\"  data-td-block-uid=\"tdi_11\" >\n<style>\n.td_block_template_5 .td-block-title {\r\n                font-size: 16px;\r\n                font-weight: 500;\r\n                margin-top: 0;\r\n                margin-bottom: 26px;\r\n                line-height: 25px;\r\n                color: var(--td_text_header_color, #000);\r\n                text-align: left;\r\n            }\r\n            .td_block_template_5 .td-block-title > * {\r\n                padding: 0 12px;\r\n                border-width: 0 0 0 4px;\r\n                border-style: solid;\r\n                border-color: var(--td_header_color, var(--td_theme_color, #4db2ec));\r\n            }\r\n            .td_block_template_5 .td-subcat-filter,\r\n            .td_block_template_5 .td-subcat-dropdown {\r\n                line-height: 25px;\r\n            }\r\n            @media (max-width: 767px) {\r\n                .td_block_template_5 .td-related-title a {\r\n                    font-size: 15px;\r\n                }\r\n            }\r\n            .td_block_template_5 .td-related-title:last-child {\r\n                border: none;\r\n            }\r\n            .td_block_template_5 .td-related-title .td-cur-simple-item {\r\n                color: var(--td_theme_color, #4db2ec);\r\n            }\n\/* inline tdc_css att - generated by TagDiv Composer *\/\n\n.tdi_11{\nmargin-bottom:20px !important;\n}\n\n<\/style>\n<style>\n\/* custom css - generated by TagDiv Composer *\/\n.td_block_text_with_title{\r\n                  margin-bottom: 44px;\r\n                  -webkit-transform: translateZ(0);\r\n                  transform: translateZ(0);\r\n                }.td_block_text_with_title p:last-child{\r\n                  margin-bottom: 0;\r\n                }\n<\/style><div class=\"td-block-title-wrap\"><h4 class=\"td-block-title\"><span class=\"td-pulldown-size\">DETERMINANTS AND IMPACT OF DEFENCE SPENDING<\/span><\/h4><\/div><div class=\"td_mod_wrap td-fix-index\"><p><strong>Public opinion and determinants of defence spending in France<\/strong><\/p>\n<p>Economic factors play a crucial role in explaining French military spending. Sensitivity to strategic factors (measured by alliance membership or conflicts in the world) should also be emphasised, although to a lesser extent. We also show that equipment expenditure is more sensitive to budgetary constraints than operating expenditure.<\/p>\n<p>The DICoD publishes opinion polls on defence. On this basis, it is possible to assess the French people's willingness to pay for defence and to explain the determining factors. It appears that economic and strategic factors are crucial.<\/p>\n<p>It is also possible to analyse the social representation of defence and its relationship with budget allocations for defence activities (e.g. external operations), particularly among students. Results obtained from a population of students show that the social representation of defence is structured around the notions of \u00abarmy\u00bb, \u00abprotection\u00bb and \u00absecurity\u00bb. These concepts make direct reference to the purpose of the armed forces (cf. Order no. 59-147, Jan. 1959). What's more, in the event of a possible increase in the defence budget, students would give priority to the budget item for defence innovation (with civilian spin-offs) over that for external operations and nuclear deterrence (which are, however, at the heart of France's defence strategy, according to the 2013 White Paper and the 2017 Strategic Review).<\/p>\n<p><strong>Economic impact of defence spending<\/strong><\/p>\n<p>Based on a study of the effects of military spending on private investment in France, for the period from 1980 to 2010, we show that military spending crowds out private investment, a result commonly accepted in the literature. However, if we disaggregate defence spending into operating and capital expenditure, we find that operating expenditure crowds out private investment, but capital expenditure favours it.<\/p>\n<p>As a result, there is a form of complementarity between private investment and defence spending.<\/p>\n<p>When analysing the impact of defence spending on general economic activity (GDP), it also appears that defence equipment spending has a positive effect on GDP, whereas operating expenditure has no significant impact, so that equipment spending is the main vector for explaining positive macroeconomic effects. Another explanation lies in the central role played by defence R&amp;D in the innovation process and in the performance of defence companies. SIPRI has launched a methodological study of its defence spending data. These data have been used for an analysis of EU countries, for which we show that the effects are different depending on whether or not they produce military equipment. A summary of the main findings of the literature shows that, for many countries, the economic impact is positive.<\/p>\n<p>Finally, work has been carried out on the local impact of defence spending, particularly on the impact of the geographical reorganisation of the Armed Forces from the late 2000s onwards. These reorganisations have not been without consequences for the areas affected, so the Ministry of the Armed Forces has provided financial support for the most vulnerable areas. Contrary to what was highlighted in a study on the subject by the Cour des Comptes, the results suggest a form of consistency in the allocation of public spending at departmental level. In addition, the defence industries have also helped to offset job losses associated with the reorganisation of the armed forces, particularly in certain areas that are particularly vulnerable from a socio-economic point of view.<\/p>\n<p><strong>Measures of economic impact and method<\/strong><\/p>\n<p>In the current context of high public indebtedness, budgetary constraints and the search for efficiency in public spending, made even worse by the health crisis, studies into the economic impact of different activities or projects are multiplying. This issue affects all types of expenditure (automotive industry, culture, environment, defence, etc.) and all Western countries.<\/p>\n<p>For this reason, the Chair has reviewed the methods available for measuring the economic impact of defence, presenting the advantages and limitations of each method (short-term impact using input-output models, impact using data by branch or sector, impact using individual company data or long-term impact).<\/p>\n<p><strong>Arms exports <\/strong><\/p>\n<p>As part of the Chair's annual conference and first newsletter, we analysed the role of economic factors in the French position on arms exports.<\/p>\n<p>The recent growth in exports can be explained by political and strategic factors, as well as economic factors, all of which are interdependent. The DTIB is considered to be a strategic and structuring sector for the French economy. Defence companies account for a significant proportion of public investment, research and exports.<\/p>\n<p>They employ a significant number of skilled personnel and perform well in terms of added value and exports. Exports help to alleviate certain economic constraints (rising costs, falling national demand over the long term, falling direct funding for defence R&amp;D, etc.), thereby ensuring both strategic and budgetary autonomy. More generally, exports are an important issue for countries with a DTIB.<\/p>\n<p>Other work has involved assessing recent arms export performance in relation to past exports. It appears that the situation observed since 2012 is not particularly exceptional.<\/p>\n<p>Another analysis consists of assessing the role of arms exports on the stability of France's client countries. The hypothesis is that stability can be measured by the intensity of civil conflicts. The results suggest that French exports do not have a destabilising influence on the intensity of conflicts, unlike arms exports from other countries. This result can be explained by two complementary analyses: France selects its customers carefully and the arms exported appear to be defensive in nature.<\/p>\n<\/div><\/div><div class=\"tdm_block td_block_wrap tdm_block_button tdi_12 tdm-block-button-inline tdm-content-horiz-left td-pb-border-top bouton-ouverture td_block_template_5\"  data-td-block-uid=\"tdi_12\"     >\n<style>\n\n\/* inline tdc_css att - generated by TagDiv Composer *\/\n\n.tdi_12{\npadding-top:0px !important;\npadding-right:0px !important;\npadding-bottom:0px !important;\npadding-left:0px !important;\n}\n\n<\/style>\n<style>\n\/* custom css - generated by TagDiv Composer *\/\n.tdm_block.tdm_block_button{\r\n                  margin-bottom: 0;\r\n                }.tdm_block.tdm_block_button .tds-button{\r\n                  line-height: 0;\r\n                }.tdm_block.tdm_block_button.tdm-block-button-inline{\r\n                  display: inline-block;\r\n                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\"10\";\nblock_tdi_18.found_posts = \"56\";\nblock_tdi_18.header_color = \"\";\nblock_tdi_18.ajax_pagination_infinite_stop = \"\";\nblock_tdi_18.max_num_pages = \"6\";\ntdBlocksArray.push(block_tdi_18);\n<\/script><div class=\"td-block-title-wrap\"><\/div><div id=\"tdi_18\" class=\"td_block_inner\">\n\n\t<div class=\"td-block-span12\">\n\r\n        <div class=\"td_module_11 td_module_wrap td-animation-stack\">\r\n            <div class=\"td-module-thumb\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-6-les-ambitions-dautonomie-stratgique-dans-laronautique-de-dfense-luka-aleksic\/\"  rel=\"bookmark\" class=\"td-image-wrap\" title=\"ECODEF Bulletin #6 \u00abAmbitions for strategic autonomy in the defence aerospace sector\u00bb (Luka Aleksic)\" ><img loading=\"lazy\" decoding=\"async\" class=\"entry-thumb\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAUQAAADrAQMAAAArGX0KAAAAA1BMVEWurq51dlI4AAAAAXRSTlMmkutdmwAAACBJREFUaN7twTEBAAAAwiD7pzbEXmAAAAAAAAAAAACQHSaOAAGSp1GBAAAAAElFTkSuQmCC\" alt=\"\" title=\"ECODEF Bulletin #6 \u00abAmbitions for strategic autonomy in the defence aerospace sector\u00bb (Luka Aleksic)\" data-type=\"image_tag\" data-img-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2026\/05\/Bulletin-de-lECODEF-N5-7-5-324x235.png\" data-img-retina-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2026\/05\/Bulletin-de-lECODEF-N5-7-5-648x470.png\" width=\"324\" height=\"235\" \/><\/a><\/div>\r\n            <div class=\"item-details\">\r\n                <h3 class=\"entry-title td-module-title\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-6-les-ambitions-dautonomie-stratgique-dans-laronautique-de-dfense-luka-aleksic\/\"  rel=\"bookmark\" title=\"ECODEF Bulletin #6 \u00abAmbitions for strategic autonomy in the defence aerospace sector\u00bb (Luka Aleksic)\">ECODEF Bulletin #6 \u00abAmbitions for strategic autonomy in the defence aerospace sector\u00bb (Luka Aleksic)<\/a><\/h3>\r\n                <div class=\"td-module-meta-info\">\r\n                                        <span class=\"td-post-author-name\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/author\/bertrand\/\">Bertrand Demandre<\/a> <span>-<\/span> <\/span>                    <span class=\"td-post-date\"><time class=\"entry-date updated td-module-date\" datetime=\"2026-07-16T13:12:58+00:00\" >16 July 2026<\/time><\/span>                    <span class=\"td-module-comments\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-6-les-ambitions-dautonomie-stratgique-dans-laronautique-de-dfense-luka-aleksic\/#respond\">0<\/a><\/span>                <\/div>\r\n\r\n                <div class=\"td-excerpt\">\r\n                    \r\n\r\nECODEF Bulletin #6\nAmbitions for strategic autonomy in defence aerospace: value chains and industrial geography\r\n\r\n\r\nThe IHEDN Chair in Defence Economics is pleased to present the sixth issue of its ECODEF Bulletin.\nThis bimonthly publication aims to provide a concise overview of the work...                <\/div>\r\n\r\n                <div class=\"td-read-more\">\r\n                    <a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-6-les-ambitions-dautonomie-stratgique-dans-laronautique-de-dfense-luka-aleksic\/\">Read more<\/a>\r\n                <\/div>\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n        \n\t<\/div> <!-- .\/td-block-span12 -->\n\n\t<div class=\"td-block-span12\">\n\r\n        <div class=\"td_module_11 td_module_wrap td-animation-stack\">\r\n            <div class=\"td-module-thumb\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/redefinir-lindustrie-de-defense-publication-dun-article-de-la-chaire-dans-defence-and-peace-economics\/\"  rel=\"bookmark\" class=\"td-image-wrap\" title=\"Redefining the defence industry: publication of an article by the Chair in *Defence and Peace Economics*\" ><img loading=\"lazy\" decoding=\"async\" class=\"entry-thumb\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAUQAAADrAQMAAAArGX0KAAAAA1BMVEWurq51dlI4AAAAAXRSTlMmkutdmwAAACBJREFUaN7twTEBAAAAwiD7pzbEXmAAAAAAAAAAAACQHSaOAAGSp1GBAAAAAElFTkSuQmCC\" alt=\"\" title=\"Redefining the defence industry: publication of an article by the Chair in *Defence and Peace Economics*\" data-type=\"image_tag\" data-img-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2026\/07\/DPE-2026-06-7-5-324x235.png\" data-img-retina-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2026\/07\/DPE-2026-06-7-5.png\" width=\"324\" height=\"235\" \/><\/a><\/div>\r\n            <div class=\"item-details\">\r\n                <h3 class=\"entry-title td-module-title\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/redefinir-lindustrie-de-defense-publication-dun-article-de-la-chaire-dans-defence-and-peace-economics\/\"  rel=\"bookmark\" title=\"Redefining the defence industry: publication of an article by the Chair in *Defence and Peace Economics*\">Redefining the defence industry: publication of an article by the Chair in Defence and...<\/a><\/h3>\r\n                <div class=\"td-module-meta-info\">\r\n                                        <span class=\"td-post-author-name\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/author\/bertrand\/\">Bertrand Demandre<\/a> <span>-<\/span> <\/span>                    <span class=\"td-post-date\"><time class=\"entry-date updated td-module-date\" datetime=\"2026-06-25T18:00:41+00:00\" >25 June 2026<\/time><\/span>                    <span class=\"td-module-comments\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/redefinir-lindustrie-de-defense-publication-dun-article-de-la-chaire-dans-defence-and-peace-economics\/#respond\">0<\/a><\/span>                <\/div>\r\n\r\n                <div class=\"td-excerpt\">\r\n                    \r\nJosselin Droff, Lucie B\u00e9raud-Sudreau, Eva Szego and Julien Malizard have published the article \u2018Redefining the defence industry: an empirical analysis of new defence firms in Europe\u2019 in the academic journal *Defence and Peace Economics*\r\nAgainst a backdrop of European rearmament, the war of attrition in Ukraine and rapid technological advancement, this article analyses how...                <\/div>\r\n\r\n                <div class=\"td-read-more\">\r\n                    <a href=\"https:\/\/ecodef-ihedn.fr\/en\/redefinir-lindustrie-de-defense-publication-dun-article-de-la-chaire-dans-defence-and-peace-economics\/\">Read more<\/a>\r\n                <\/div>\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n        \n\t<\/div> <!-- .\/td-block-span12 -->\n\n\t<div class=\"td-block-span12\">\n\r\n        <div class=\"td_module_11 td_module_wrap td-animation-stack\">\r\n            <div class=\"td-module-thumb\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-5-marches-de-larmement-nouveaux-besoins-nouveaux-acteurs-industriels-nouvelles-strategies-eva-szego-et-josselin-droff\/\"  rel=\"bookmark\" class=\"td-image-wrap\" title=\"ECODEF Bulletin #5 \u00abArmaments markets: new needs, new industrial players, new strategies\u00bb (Eva Szego and Josselin Droff)\" ><img loading=\"lazy\" decoding=\"async\" class=\"entry-thumb\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAUQAAADrAQMAAAArGX0KAAAAA1BMVEWurq51dlI4AAAAAXRSTlMmkutdmwAAACBJREFUaN7twTEBAAAAwiD7pzbEXmAAAAAAAAAAAACQHSaOAAGSp1GBAAAAAElFTkSuQmCC\" alt=\"\" title=\"ECODEF Bulletin #5 \u00abArmaments markets: new needs, new industrial players, new strategies\u00bb (Eva Szego and Josselin Droff)\" data-type=\"image_tag\" data-img-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2026\/05\/Bulletin-de-lECODEF-N5-7-5-324x235.png\" data-img-retina-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2026\/05\/Bulletin-de-lECODEF-N5-7-5-648x470.png\" width=\"324\" height=\"235\" \/><\/a><\/div>\r\n            <div class=\"item-details\">\r\n                <h3 class=\"entry-title td-module-title\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-5-marches-de-larmement-nouveaux-besoins-nouveaux-acteurs-industriels-nouvelles-strategies-eva-szego-et-josselin-droff\/\"  rel=\"bookmark\" title=\"ECODEF Bulletin #5 \u00abArmaments markets: new needs, new industrial players, new strategies\u00bb (Eva Szego and Josselin Droff)\">Bulletin de l'ECODEF #5 \u00abArmaments markets: new needs, new industrial players, new...<\/a><\/h3>\r\n                <div class=\"td-module-meta-info\">\r\n                                        <span class=\"td-post-author-name\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/author\/bertrand\/\">Bertrand Demandre<\/a> <span>-<\/span> <\/span>                    <span class=\"td-post-date\"><time class=\"entry-date updated td-module-date\" datetime=\"2026-05-07T07:51:19+00:00\" >7 May 2026<\/time><\/span>                    <span class=\"td-module-comments\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-5-marches-de-larmement-nouveaux-besoins-nouveaux-acteurs-industriels-nouvelles-strategies-eva-szego-et-josselin-droff\/#respond\">0<\/a><\/span>                <\/div>\r\n\r\n                <div class=\"td-excerpt\">\r\n                    \r\n\r\nECODEF Newsletter #5\r\nArmaments markets: new needs, new industrial players, new strategies?\r\n\r\n\r\nThe Economics of Defence Chair - IHEDN is pleased to present the fifth issue of its ECODEF Bulletin.\r\nThe aim of this bi-monthly newsletter is to provide a summary of the work carried out by the Chair in...                <\/div>\r\n\r\n                <div class=\"td-read-more\">\r\n                    <a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-5-marches-de-larmement-nouveaux-besoins-nouveaux-acteurs-industriels-nouvelles-strategies-eva-szego-et-josselin-droff\/\">Read more<\/a>\r\n                <\/div>\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n        \n\t<\/div> <!-- .\/td-block-span12 -->\n\n\t<div class=\"td-block-span12\">\n\r\n        <div class=\"td_module_11 td_module_wrap td-animation-stack\">\r\n            <div class=\"td-module-thumb\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/implantation-de-nouvelles-entreprises-de-defense-en-europe-publication-dun-article-de-josselin-droff-eva-szego-julien-malizard-et-lucie-beraud-sudreau-par-ares-group\/\"  rel=\"bookmark\" class=\"td-image-wrap\" title=\"Setting up new defence companies in Europe: publication of an article by Josselin Droff, Eva Szego, Julien Malizard and Lucie B\u00e9raud-Sudreau via ARES Group\" ><img loading=\"lazy\" decoding=\"async\" class=\"entry-thumb\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAUQAAADrAQMAAAArGX0KAAAAA1BMVEWurq51dlI4AAAAAXRSTlMmkutdmwAAACBJREFUaN7twTEBAAAAwiD7pzbEXmAAAAAAAAAAAACQHSaOAAGSp1GBAAAAAElFTkSuQmCC\" alt=\"\" title=\"Setting up new defence companies in Europe: publication of an article by Josselin Droff, Eva Szego, Julien Malizard and Lucie B\u00e9raud-Sudreau via ARES Group\" data-type=\"image_tag\" data-img-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2026\/04\/ARES-logo-7-5-324x235.png\" data-img-retina-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2026\/04\/ARES-logo-7-5.png\" width=\"324\" height=\"235\" \/><\/a><\/div>\r\n            <div class=\"item-details\">\r\n                <h3 class=\"entry-title td-module-title\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/implantation-de-nouvelles-entreprises-de-defense-en-europe-publication-dun-article-de-josselin-droff-eva-szego-julien-malizard-et-lucie-beraud-sudreau-par-ares-group\/\"  rel=\"bookmark\" title=\"Setting up new defence companies in Europe: publication of an article by Josselin Droff, Eva Szego, Julien Malizard and Lucie B\u00e9raud-Sudreau via ARES Group\">The establishment of new defence companies in Europe: publication of an article by Josselin...<\/a><\/h3>\r\n                <div class=\"td-module-meta-info\">\r\n                                        <span class=\"td-post-author-name\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/author\/bertrand\/\">Bertrand Demandre<\/a> <span>-<\/span> <\/span>                    <span class=\"td-post-date\"><time class=\"entry-date updated td-module-date\" datetime=\"2026-04-15T12:08:45+00:00\" >15 April 2026<\/time><\/span>                    <span class=\"td-module-comments\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/implantation-de-nouvelles-entreprises-de-defense-en-europe-publication-dun-article-de-josselin-droff-eva-szego-julien-malizard-et-lucie-beraud-sudreau-par-ares-group\/#respond\">0<\/a><\/span>                <\/div>\r\n\r\n                <div class=\"td-excerpt\">\r\n                    \r\nJosselin Droff, Eva Szego, Julien Malizard and Lucie B\u00e9raud-Sudreau publish the article \u00abBetween legacy and emergence: the spatial integration of New Defence companies in Europe's historical defence landscape\u00bb via ARES Group, IRIS (April 2026)\r\nJosselin Droff, Eva Szego and Julien Malizard, researchers at the Economics of Defence Chair...                <\/div>\r\n\r\n                <div class=\"td-read-more\">\r\n                    <a href=\"https:\/\/ecodef-ihedn.fr\/en\/implantation-de-nouvelles-entreprises-de-defense-en-europe-publication-dun-article-de-josselin-droff-eva-szego-julien-malizard-et-lucie-beraud-sudreau-par-ares-group\/\">Read more<\/a>\r\n                <\/div>\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n        \n\t<\/div> <!-- .\/td-block-span12 -->\n\n\t<div class=\"td-block-span12\">\n\r\n        <div class=\"td_module_11 td_module_wrap td-animation-stack\">\r\n            <div class=\"td-module-thumb\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/new-defence-et-politique-industrielle-de-defense-en-europe-publication-dun-article-de-la-chaire-dans-defense-industries-revue-de-la-frs\/\"  rel=\"bookmark\" class=\"td-image-wrap\" title=\"\u00abNew Defence\u00bb and defence industrial policy in Europe: publication of an article by the Chair in *D\u00e9fense &amp; Industries*, the FRS journal\" ><img loading=\"lazy\" decoding=\"async\" class=\"entry-thumb\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAUQAAADrAQMAAAArGX0KAAAAA1BMVEWurq51dlI4AAAAAXRSTlMmkutdmwAAACBJREFUaN7twTEBAAAAwiD7pzbEXmAAAAAAAAAAAACQHSaOAAGSp1GBAAAAAElFTkSuQmCC\" alt=\"\" title=\"\u00abNew Defence\u00bb and defence industrial policy in Europe: publication of an article by the Chair in *D\u00e9fense &amp; Industries*, the FRS journal\" data-type=\"image_tag\" data-img-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2024\/07\/DEFENSEIndustries-324x235.jpg\" data-img-retina-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2024\/07\/DEFENSEIndustries.jpg\" width=\"324\" height=\"235\" \/><\/a><\/div>\r\n            <div class=\"item-details\">\r\n                <h3 class=\"entry-title td-module-title\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/new-defence-et-politique-industrielle-de-defense-en-europe-publication-dun-article-de-la-chaire-dans-defense-industries-revue-de-la-frs\/\"  rel=\"bookmark\" title=\"\u00abNew Defence\u00bb and defence industrial policy in Europe: publication of an article by the Chair in *D\u00e9fense &amp; Industries*, the FRS journal\">\u00abNew Defence\u00bb and defence industrial policy in Europe: publication of an article by...<\/a><\/h3>\r\n                <div class=\"td-module-meta-info\">\r\n                                        <span class=\"td-post-author-name\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/author\/bertrand\/\">Bertrand Demandre<\/a> <span>-<\/span> <\/span>                    <span class=\"td-post-date\"><time class=\"entry-date updated td-module-date\" datetime=\"2026-02-19T09:07:52+00:00\" >19 February 2026<\/time><\/span>                    <span class=\"td-module-comments\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/new-defence-et-politique-industrielle-de-defense-en-europe-publication-dun-article-de-la-chaire-dans-defense-industries-revue-de-la-frs\/#respond\">0<\/a><\/span>                <\/div>\r\n\r\n                <div class=\"td-excerpt\">\r\n                    \r\nJosselin Droff, Lucie B\u00e9raud-Sudreau, Eva Szego and Julien Malizard have published the article \"New Defence and Defence Industrial Policy in Europe\" in issue 22 of *D\u00e9fense &amp; Industries*, the journal of the Foundation for Strategic Research (FRS)\nJosselin Droff, Eva Szego and Julien Malizard, researchers at the Chair in Economics at...                <\/div>\r\n\r\n                <div class=\"td-read-more\">\r\n                    <a href=\"https:\/\/ecodef-ihedn.fr\/en\/new-defence-et-politique-industrielle-de-defense-en-europe-publication-dun-article-de-la-chaire-dans-defense-industries-revue-de-la-frs\/\">Read more<\/a>\r\n                <\/div>\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n        \n\t<\/div> <!-- .\/td-block-span12 -->\n\n\t<div class=\"td-block-span12\">\n\r\n        <div class=\"td_module_11 td_module_wrap td-animation-stack\">\r\n            <div class=\"td-module-thumb\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-4-le-rarmement-de-leurope-julien-malizard\/\"  rel=\"bookmark\" class=\"td-image-wrap\" title=\"ECODEF Bulletin #4 \u00abThe rearmament of Europe\u00bb (Julien Malizard)\" ><img loading=\"lazy\" decoding=\"async\" class=\"entry-thumb\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAUQAAADrAQMAAAArGX0KAAAAA1BMVEWurq51dlI4AAAAAXRSTlMmkutdmwAAACBJREFUaN7twTEBAAAAwiD7pzbEXmAAAAAAAAAAAACQHSaOAAGSp1GBAAAAAElFTkSuQmCC\" alt=\"\" title=\"ECODEF Bulletin #4 \u00abThe rearmament of Europe\u00bb (Julien Malizard)\" data-type=\"image_tag\" data-img-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2026\/02\/Bulletin-de-lECODEF-N4-7-5-324x235.png\" data-img-retina-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2026\/02\/Bulletin-de-lECODEF-N4-7-5-648x470.png\" width=\"324\" height=\"235\" \/><\/a><\/div>\r\n            <div class=\"item-details\">\r\n                <h3 class=\"entry-title td-module-title\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-4-le-rarmement-de-leurope-julien-malizard\/\"  rel=\"bookmark\" title=\"ECODEF Bulletin #4 \u00abThe rearmament of Europe\u00bb (Julien Malizard)\">ECODEF Bulletin #4 \u00abThe rearmament of Europe\u00bb (Julien Malizard)<\/a><\/h3>\r\n                <div class=\"td-module-meta-info\">\r\n                                        <span class=\"td-post-author-name\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/author\/bertrand\/\">Bertrand Demandre<\/a> <span>-<\/span> <\/span>                    <span class=\"td-post-date\"><time class=\"entry-date updated td-module-date\" datetime=\"2026-02-13T10:31:44+00:00\" >13 February 2026<\/time><\/span>                    <span class=\"td-module-comments\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-4-le-rarmement-de-leurope-julien-malizard\/#respond\">0<\/a><\/span>                <\/div>\r\n\r\n                <div class=\"td-excerpt\">\r\n                    \r\n\r\nECODEF Newsletter #4\r\nThe rearmament of Europe\r\n\r\n\r\nThe Economics of Defence Chair - IHEDN is pleased to present the fourth issue of its ECODEF Bulletin.\r\nThe aim of this bi-monthly publication is to provide a summary of the work carried out by the Chair, to provide information on the issues addressed and to provide...                <\/div>\r\n\r\n                <div class=\"td-read-more\">\r\n                    <a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-4-le-rarmement-de-leurope-julien-malizard\/\">Read more<\/a>\r\n                <\/div>\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n        \n\t<\/div> <!-- .\/td-block-span12 -->\n\n\t<div class=\"td-block-span12\">\n\r\n        <div class=\"td_module_11 td_module_wrap td-animation-stack\">\r\n            <div class=\"td-module-thumb\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/les-determinants-des-exportations-darmement-de-la-france-publication-dun-article-dans-la-revue-deconomie-politique\/\"  rel=\"bookmark\" class=\"td-image-wrap\" title=\"The determinants of French arms exports: publication of an article in the Revue d&#039;\u00e9conomie politique\" ><img loading=\"lazy\" decoding=\"async\" class=\"entry-thumb\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAUQAAADrAQMAAAArGX0KAAAAA1BMVEWurq51dlI4AAAAAXRSTlMmkutdmwAAACBJREFUaN7twTEBAAAAwiD7pzbEXmAAAAAAAAAAAACQHSaOAAGSp1GBAAAAAElFTkSuQmCC\" alt=\"\" title=\"The determinants of French arms exports: publication of an article in the Revue d&#039;\u00e9conomie politique\" data-type=\"image_tag\" data-img-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2025\/12\/Revue-deconomie-politique-4-3-324x235.png\" data-img-retina-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2025\/12\/Revue-deconomie-politique-4-3.png\" width=\"324\" height=\"235\" \/><\/a><\/div>\r\n            <div class=\"item-details\">\r\n                <h3 class=\"entry-title td-module-title\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/les-determinants-des-exportations-darmement-de-la-france-publication-dun-article-dans-la-revue-deconomie-politique\/\"  rel=\"bookmark\" title=\"The determinants of French arms exports: publication of an article in the Revue d&#039;\u00e9conomie politique\">The determinants of French arms exports: publication of an article in the...<\/a><\/h3>\r\n                <div class=\"td-module-meta-info\">\r\n                                        <span class=\"td-post-author-name\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/author\/bertrand\/\">Bertrand Demandre<\/a> <span>-<\/span> <\/span>                    <span class=\"td-post-date\"><time class=\"entry-date updated td-module-date\" datetime=\"2025-12-02T07:51:45+00:00\" >2 December 2025<\/time><\/span>                    <span class=\"td-module-comments\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/les-determinants-des-exportations-darmement-de-la-france-publication-dun-article-dans-la-revue-deconomie-politique\/#respond\">0<\/a><\/span>                <\/div>\r\n\r\n                <div class=\"td-excerpt\">\r\n                    \r\nJosselin Droff, Jade Guiberteau Ricard and Julien Malizard publish the article \"Les d\u00e9terminants des exportations d'armement de la France 1991-2019\", in the Revue d'\u00e9conomie politique (2025\/5 Vol. 135)\r\nArms exports are a major instrument of French foreign and defence policy. What's more, they have gradually established themselves as...                <\/div>\r\n\r\n                <div class=\"td-read-more\">\r\n                    <a href=\"https:\/\/ecodef-ihedn.fr\/en\/les-determinants-des-exportations-darmement-de-la-france-publication-dun-article-dans-la-revue-deconomie-politique\/\">Read more<\/a>\r\n                <\/div>\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n        \n\t<\/div> <!-- .\/td-block-span12 -->\n\n\t<div class=\"td-block-span12\">\n\r\n        <div class=\"td_module_11 td_module_wrap td-animation-stack\">\r\n            <div class=\"td-module-thumb\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-3-budgets-de-defense-en-france-trajectoires-passees-et-a-venir-julien-malizard\/\"  rel=\"bookmark\" class=\"td-image-wrap\" title=\"ECODEF Bulletin #3 \u00abDefence budgets in France: past and future trends\u00bb (Julien Malizard)\" ><img loading=\"lazy\" decoding=\"async\" class=\"entry-thumb\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAUQAAADrAQMAAAArGX0KAAAAA1BMVEWurq51dlI4AAAAAXRSTlMmkutdmwAAACBJREFUaN7twTEBAAAAwiD7pzbEXmAAAAAAAAAAAACQHSaOAAGSp1GBAAAAAElFTkSuQmCC\" alt=\"\" title=\"ECODEF Bulletin #3 \u00abDefence budgets in France: past and future trends\u00bb (Julien Malizard)\" data-type=\"image_tag\" data-img-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2025\/11\/Bulletin-de-lECODEF-N3-7-5-324x235.png\" data-img-retina-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2025\/11\/Bulletin-de-lECODEF-N3-7-5-648x470.png\" width=\"324\" height=\"235\" \/><\/a><\/div>\r\n            <div class=\"item-details\">\r\n                <h3 class=\"entry-title td-module-title\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-3-budgets-de-defense-en-france-trajectoires-passees-et-a-venir-julien-malizard\/\"  rel=\"bookmark\" title=\"ECODEF Bulletin #3 \u00abDefence budgets in France: past and future trends\u00bb (Julien Malizard)\">ECODEF Bulletin #3 \u00abDefence budgets in France: past and future trajectories.<\/a><\/h3>\r\n                <div class=\"td-module-meta-info\">\r\n                                        <span class=\"td-post-author-name\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/author\/bertrand\/\">Bertrand Demandre<\/a> <span>-<\/span> <\/span>                    <span class=\"td-post-date\"><time class=\"entry-date updated td-module-date\" datetime=\"2025-11-20T12:21:38+00:00\" >20 November 2025<\/time><\/span>                    <span class=\"td-module-comments\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-3-budgets-de-defense-en-france-trajectoires-passees-et-a-venir-julien-malizard\/#respond\">0<\/a><\/span>                <\/div>\r\n\r\n                <div class=\"td-excerpt\">\r\n                    \r\n\r\nECODEF Bulletin #3\r\nDefence budgets in France: past and future trends\r\n\r\n\r\nThe Economics of Defence Chair - IHEDN is pleased to present the third issue of its ECODEF Bulletin.\r\nThe aim of this new bimonthly format is to provide a summary of the work carried out by the Chair in the...                <\/div>\r\n\r\n                <div class=\"td-read-more\">\r\n                    <a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-3-budgets-de-defense-en-france-trajectoires-passees-et-a-venir-julien-malizard\/\">Read more<\/a>\r\n                <\/div>\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n        \n\t<\/div> <!-- .\/td-block-span12 -->\n\n\t<div class=\"td-block-span12\">\n\r\n        <div class=\"td_module_11 td_module_wrap td-animation-stack\">\r\n            <div class=\"td-module-thumb\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-2-mesurer-lautonomie-strategique-par-linnovation-eva-szego\/\"  rel=\"bookmark\" class=\"td-image-wrap\" title=\"ECODEF Bulletin #2 \u00abMeasuring strategic autonomy through innovation\u00bb (Eva Szego)\" ><img loading=\"lazy\" decoding=\"async\" class=\"entry-thumb\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAUQAAADrAQMAAAArGX0KAAAAA1BMVEWurq51dlI4AAAAAXRSTlMmkutdmwAAACBJREFUaN7twTEBAAAAwiD7pzbEXmAAAAAAAAAAAACQHSaOAAGSp1GBAAAAAElFTkSuQmCC\" alt=\"\" title=\"ECODEF Bulletin #2 \u00abMeasuring strategic autonomy through innovation\u00bb (Eva Szego)\" data-type=\"image_tag\" data-img-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2025\/09\/Bulletin-de-lECODEF-N2-7-5-324x235.png\" data-img-retina-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2025\/09\/Bulletin-de-lECODEF-N2-7-5-648x470.png\" width=\"324\" height=\"235\" \/><\/a><\/div>\r\n            <div class=\"item-details\">\r\n                <h3 class=\"entry-title td-module-title\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-2-mesurer-lautonomie-strategique-par-linnovation-eva-szego\/\"  rel=\"bookmark\" title=\"ECODEF Bulletin #2 \u00abMeasuring strategic autonomy through innovation\u00bb (Eva Szego)\">ECODEF Bulletin #2 \u00abMeasuring strategic autonomy through innovation\u00bb (Eva Szego)<\/a><\/h3>\r\n                <div class=\"td-module-meta-info\">\r\n                                        <span class=\"td-post-author-name\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/author\/bertrand\/\">Bertrand Demandre<\/a> <span>-<\/span> <\/span>                    <span class=\"td-post-date\"><time class=\"entry-date updated td-module-date\" datetime=\"2025-09-17T14:17:16+00:00\" >17 September 2025<\/time><\/span>                    <span class=\"td-module-comments\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-2-mesurer-lautonomie-strategique-par-linnovation-eva-szego\/#respond\">0<\/a><\/span>                <\/div>\r\n\r\n                <div class=\"td-excerpt\">\r\n                    \r\n\r\nECODEF Newsletter #2\r\nMeasuring strategic autonomy through innovation\r\n\r\n\r\nThe Economics of Defence Chair - IHEDN is pleased to present the second issue of its ECODEF Bulletin.\r\nThe aim of this new bimonthly format is to provide an overview of the work carried out by the Chair, to provide information on the issues addressed and to...                <\/div>\r\n\r\n                <div class=\"td-read-more\">\r\n                    <a href=\"https:\/\/ecodef-ihedn.fr\/en\/bulletin-de-lecodef-2-mesurer-lautonomie-strategique-par-linnovation-eva-szego\/\">Read more<\/a>\r\n                <\/div>\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n        \n\t<\/div> <!-- .\/td-block-span12 -->\n\n\t<div class=\"td-block-span12\">\n\r\n        <div class=\"td_module_11 td_module_wrap td-animation-stack\">\r\n            <div class=\"td-module-thumb\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/financer-la-defense-article-julien-malizard-frs\/\"  rel=\"bookmark\" class=\"td-image-wrap\" title=\"Financing defence: publication of an article by Julien Malizard in D\u00e9fense &amp; Industries, FRS magazine\" ><img loading=\"lazy\" decoding=\"async\" class=\"entry-thumb\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAUQAAADrAQMAAAArGX0KAAAAA1BMVEWurq51dlI4AAAAAXRSTlMmkutdmwAAACBJREFUaN7twTEBAAAAwiD7pzbEXmAAAAAAAAAAAACQHSaOAAGSp1GBAAAAAElFTkSuQmCC\" alt=\"\" title=\"Financing defence: publication of an article by Julien Malizard in D\u00e9fense &amp; Industries, FRS magazine\" data-type=\"image_tag\" data-img-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2024\/07\/DEFENSEIndustries-324x235.jpg\" data-img-retina-url=\"https:\/\/ecodef-ihedn.fr\/wp-content\/uploads\/2024\/07\/DEFENSEIndustries.jpg\" width=\"324\" height=\"235\" \/><\/a><\/div>\r\n            <div class=\"item-details\">\r\n                <h3 class=\"entry-title td-module-title\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/financer-la-defense-article-julien-malizard-frs\/\"  rel=\"bookmark\" title=\"Financing defence: publication of an article by Julien Malizard in D\u00e9fense &amp; Industries, FRS magazine\">Financing defence: publication of an article by Julien Malizard in D\u00e9fense &amp; Industries,...<\/a><\/h3>\r\n                <div class=\"td-module-meta-info\">\r\n                                        <span class=\"td-post-author-name\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/author\/bertrand\/\">Bertrand Demandre<\/a> <span>-<\/span> <\/span>                    <span class=\"td-post-date\"><time class=\"entry-date updated td-module-date\" datetime=\"2025-07-17T13:27:16+00:00\" >17 July 2025<\/time><\/span>                    <span class=\"td-module-comments\"><a href=\"https:\/\/ecodef-ihedn.fr\/en\/financer-la-defense-article-julien-malizard-frs\/#respond\">0<\/a><\/span>                <\/div>\r\n\r\n                <div class=\"td-excerpt\">\r\n                    \r\nJulien Malizard publishes the article \"Financing defence: new mechanisms to overcome budgetary constraints\" in issue 21 of Defence &amp; Industries, the journal of the Foundation for Strategic Research (FRS).\r\nOn 20 March 2025, leaders from the financial sector and the defence industry came together to...                <\/div>\r\n\r\n                <div class=\"td-read-more\">\r\n                    <a href=\"https:\/\/ecodef-ihedn.fr\/en\/financer-la-defense-article-julien-malizard-frs\/\">Read more<\/a>\r\n                <\/div>\r\n            <\/div>\r\n\r\n        <\/div>\r\n\r\n        \n\t<\/div> <!-- .\/td-block-span12 --><\/div><div class=\"td_ajax_infinite\" id=\"next-page-tdi_18\" data-td_block_id=\"tdi_18\"> <\/div><div class=\"td-load-more-wrap td-load-more-infinite-wrap\" id=\"infinite-lm-tdi_18\"><a href=\"#\" class=\"td_ajax_load_more td_ajax_load_more_js\" aria-label=\"See more\" id=\"next-page-tdi_18\" data-td_block_id=\"tdi_18\">See more<i class=\"td-icon-font td-icon-menu-down\"><\/i><\/a><\/div><\/div> <!-- .\/block --><\/div><\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":564,"parent":483,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-767","page","type-page","status-publish","has-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - 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