International audienceDisarmament leads to the decline of the arms industry, a reduction in military employment and the workforce of its suppliers, and a reduction in the sectorial and regional activities involved. Many analysts have argued that there are dividends from disarmament, due to the reduction in the crowding-out effects of military activities on civilian investments. However, in the short term, a disarmament process can lead to sectorial crises due to obsolete arms production capital and the need to make other investments to revive the sector. Similarly, for regions heavily invested in the military sector, disarmament leads to an economic crisis that can only be countered initially by strong civilian investments. It is therefore ...