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An analytical approach on defense expenditure and economic growth: The case of Turkey and Greece

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Author Info
Huseyin Kalyoncu
Fatih Yucel

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Abstract

Purpose – The objective of this study is to examine the relationship between defense expenditure and economic growth for Turkey and Greece in the period of 1956-2003 using yearly data. Design/methodology/approach – The Engle-Granger cointegration methodology and Granger causality test are used. Findings – It is found that these two variables are cointegrated for both countries studied. Unidirectional causality running from economic growth to defense expenditure is only found for Turkey. Originality/value – The paper investigates the long-run relationship between defense expenditure and economic growth by conducting cointegration and causality tests in the context of Turkey and Greece over the period 1956-2003.

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Publisher Info
Article provided by Emerald Group Publishing in its journal Journal of Economic Studies.

Volume (Year): 33 (2006)
Issue (Month): 5 (November)
Pages: 336-343
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Handle: RePEc:eme:jespps:v:33:y:2006:i:5:p:336-343

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Related research
Keywords: Defence sector; Economic growth; Expenditure; Greece; Turkey;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Landau, Daniel, 1996. "Is one of the 'peace dividends' negative? Military expenditure and economic growth in the wealthy OECD countries," The Quarterly Review of Economics and Finance, Elsevier, vol. 36(2), pages 183-195. [Downloadable!] (restricted)
  2. Mohsen Bahmani-Oskooee & Ilir Miteza, 2004. "Panel cointegration and productivity bias hypothesis," Journal of Economic Studies, Emerald Group Publishing, vol. 31(5), pages 448-456, October. [Downloadable!] (restricted)
  3. Chien-Hsun Chen, 1993. "Causality between Defence Spending and Economic Growth: The Case of Mainland China," Journal of Economic Studies, Emerald Group Publishing, vol. 20(6), pages 37-43, October. [Downloadable!] (restricted)
  4. Hüseyin Kalyoncu, 2005. "Fiscal policy sustainability: test of intertemporal borrowing constraints," Applied Economics Letters, Taylor and Francis Journals, vol. 12(15), pages 957-962, December. [Downloadable!] (restricted)
  5. Christos Kollias & Charis Naxakisb & Leonidas Zarangasb, 2004. "Defence Spending and Growth in Cyprus: A Causal Analysis," Defence and Peace Economics, Taylor and Francis Journals, vol. 15(3), pages 299-307, June. [Downloadable!] (restricted)
  6. Abdul M.M. Masih & Rumi Masih & Mohammad S. Hasan, 1997. "New evidence from an alternative methodological approach to the defence spending-economic growth causality issue in the case of mainland China," Journal of Economic Studies, Emerald Group Publishing, vol. 24(3), pages 123-140, September. [Downloadable!] (restricted)
  7. J. Paul Dunne & Ron Smith & Dirk Willenbockel, 2005. "Models Of Military Expenditure And Growth: A Critical Review," Defence and Peace Economics, Taylor and Francis Journals, vol. 16(6), pages 449-461, December. [Downloadable!] (restricted)
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  8. Seema Narayan & Paresh Kumar Narayan, 2005. "An empirical analysis of Fiji's import demand function," Journal of Economic Studies, Emerald Group Publishing, vol. 32(2), pages 158-168, May. [Downloadable!] (restricted)
  9. Biswas, Basudeb & Ram, Rati, 1986. "Military Expenditures and Economic Growth in Less Developed Countries: An Augmented Model and Further Evidence," Economic Development and Cultural Change, University of Chicago Press, vol. 34(2), pages 361-72, January.
  10. Erdal Karagol & Serap Palaz, 2004. "Does defence expenditure deter economic growth in Turkey? A cointegration analysis," Defence and Peace Economics, Taylor and Francis Journals, vol. 15(3), pages 289-298, June. [Downloadable!] (restricted)
  11. Granger, C. W. J., 1988. "Some recent development in a concept of causality," Journal of Econometrics, Elsevier, vol. 39(1-2), pages 199-211. [Downloadable!] (restricted)
  12. Reitschuler, Gerhard & Loening, Josef L., 2005. "Modeling the Defense-Growth Nexus in Guatemala," World Development, Elsevier, vol. 33(3), pages 513-526, March. [Downloadable!] (restricted)
  13. Mohsen Bahmani-Oskooee & Claire Economidou & Gour Gobinda Goswami, 2005. "How sensitive are Britain's inpayments and outpayments to the value of the British pound," Journal of Economic Studies, Emerald Group Publishing, vol. 32(5), pages 455-467, October. [Downloadable!] (restricted)
  14. Chletsos, Michael & Kollias, Christos, 1995. "Defence Spending and Growth in Greece 1974-90: Some Preliminary Econometric Results," Applied Economics, Taylor and Francis Journals, vol. 27(9), pages 883-90, September.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Hirnissa, M.T & Habibullah, M.S. & Baharom, A.H., 2008. "Military and Economic Growth in ASEAN-5 Countries," MPRA Paper 13108, University Library of Munich, Germany. [Downloadable!]
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