Abstract
Stemming the proliferation of weapons of mass destruction (WMD) — nuclear, biological, and chemical — and the missiles to deliver them comprises a crucial element in contemporary security policies. Many observers believe the utility of export controls in this effort is diminishing. While the authors believe that controls on the transfer of military and dual‐use items remain relatively effective and efficient compared to the alternative policy tools, they argue for the development of a more compelling rationale for export controls than restraining proliferation. The authors suggest that an emphasis on the links between non‐proliferation, regional stability, and economic prosperity could help policymakers transcend the more traditional view that such controls sacrifice economic gain for military security. Specifically, the authors argue that proliferation is bad for regional stability and regional economic growth, and that a prudent multilateral system of controls on dual‐use items establishes a foundation for both greater economic and security benefits.