Defense Spending and Economic Growth in Turkey: An Empirical Application of New Macroeconomic Theory
AbstractThis study presents new empirical evidence on the relationship between the level of economic growth and defense expenditures in the case of Turkey for the period of 1950–2002. On using new macroeconomic theory and multivariate cointegration procedure, this study demonstrates empirically that there exists a positive long-run relationship between aggregate defense spending and aggregate output in Turkey. In addition, the CUSUM and CUSUMSQ tests confirm the stability of the aggregate output function. The results obtained from this study are, by and large, in line with the previous studies concerning Turkey.
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Bibliographic InfoArticle provided by De Gruyter in its journal Review of Middle East Economics and Finance.
Volume (Year): 2 (2004)
Issue (Month): 3 (December)
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Web page: http://www.degruyter.com
Other versions of this item:
- Ferda Halicioglu, 2005. "Defense Spending and economic growth in Turkey: an empirical application of new macroeconomic theory," Macroeconomics 0504011, EconWPA.
- E69 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Other
- E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
- H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
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