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Optimal Versus Required Defence Expenditure: The Case Of The Greek-Turkish Arms Race

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Author Info
A. S. ANDREOU
K. E. PARSOPOULOS
M. N. VRAHATIS
G. A. ZOMBANAKIS

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Abstract

The aim of this paper is to indicate the extent to which the arms race against Turkey, in which Greece and Cyprus have been entangled, imposes a defence expenditure burden that is tough for the two allies to bear. To do so we have resorted to evaluating the optimal military expenditure for the two countries, allied in the context of the Integrated Defence Doctrine, which is compatible with the constraints imposed by the resources of their economies. All experiments and scenarios examined lead to the conclusion that the current defence burden of the two allies seems to be driving their economies beyond capacity limits. The fact remains, however, that under the circumstances, a one-sided disarmament policy like the one currently followed by Greece, is a risky choice given that the long-term armament programmes pursued by Turkey, whose role in this arms race has been proven as leading, leave very small room to the Greek and Cypriot sides to reduce their own defence expenditure.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal Defence and Peace Economics.

Volume (Year): 13 (2002)
Issue (Month): 4 (January)
Pages: 329-347
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Handle: RePEc:taf:defpea:v:13:y:2002:i:4:p:329-347

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Related research
Keywords: Optimal Control; Defence Expenditure; Arms Race; Relative Military Security;

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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. Kollias, Christos G, 1995. "Preliminary Findings on the Economic Effects of Greek Military Expenditure," Applied Economics Letters, Taylor and Francis Journals, vol. 2(1), pages 16-18, January. [Downloadable!] (restricted)
  2. Ehrlich, Isaac & Lui, Francis, 1997. "The problem of population and growth: A review of the literature from Malthus to contemporary models of endogenous population and endogenous growth," Journal of Economic Dynamics and Control, Elsevier, vol. 21(1), pages 205-242, January. [Downloadable!] (restricted)
  3. Majeski, Stephen J., 1984. "Arms races as iterated prisoner's dilemma games," Mathematical Social Sciences, Elsevier, vol. 7(3), pages 253-266, June. [Downloadable!] (restricted)
  4. Neil Bruce, 1989. "Defence Expenditures by Countries in Allied and Adversarial Relationships," Working Papers 745, Queen's University, Department of Economics.
  5. Andreou, Andreas S. & Zombanakis, George A., 2000. "Financial Versus Human Resources in the Greek-Turkish Arms Race: A Forecasting Investigation Using Artificial Neural Networks," MPRA Paper 13892, University Library of Munich, Germany. [Downloadable!]
  6. Andreou, Andreas S. & ZOMBANAKIS, GEORGE A., 2001. "A Neural Network Measurement of Relative Military Security: The Case of Greece and Cyprus," MPRA Paper 14539, University Library of Munich, Germany, revised 2001. [Downloadable!]
  7. Stavrinos, Vasilios G. & Zombanakis, George A., 1998. "The Vicious Cycle of the Foreign Military Debt," MPRA Paper 17758, University Library of Munich, Germany. [Downloadable!]
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  1. A. S. Andreou & K. E. Parsopoulos & M. N. Vrahatis & G. A. Zombanakis, 2004. "An alliance between Cyprus and Greece: assessing its partners' relative security contribution," Defence and Peace Economics, Taylor and Francis Journals, vol. 15(5), pages 481-495, October. [Downloadable!] (restricted)
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