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The role of defence on external indebtedness: An assessment of turkey

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  • G�lay G�nl�k-Senesen †

Abstract

Turkey has been undergoing a severe economic crisis recently. Despite its low standing in terms of basic economic and welfare indicators, Turkey has been leading in arms imports. The pressing issues of macroeconomic imbalances are budget deficits, current account deficits and external debt burden. Previous work on the trade-off between defence and growth and between defence and budget deficits concludes that the presence of such trade-offs is not confirmed. As budget deficits are financed through internal and external debt, this paper attempts to explore to what extent defence might be contributing to Turkey's current account deficits and external indebtedness since the 1980s. Related data problems are also assessed.

Suggested Citation

  • G�lay G�nl�k-Senesen †, 2004. "The role of defence on external indebtedness: An assessment of turkey," Defence and Peace Economics, Taylor & Francis Journals, vol. 15(2), pages 145-156, April.
    • Handle: RePEc:taf:defpea:v:15:y:2004:i:2:p:145-156
    DOI: 10.1080/1024269032000110522
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    Cited by:

    1. Zhang, Xiaoyan & Chang, Tsangyao & Su, Chi-Wei & Wolde-Rufael, Yemane, 2016. "Revisit causal nexus between military spending and debt: A panel causality test," Economic Modelling, Elsevier, vol. 52(PB), pages 939-944.
    2. Muhammad Shahbaz & Muhammad shahbaz Shabbir & Muhammad sabihuddin Butt, 2016. "Does Military Spending Explode External Debt in Pakistan?," Defence and Peace Economics, Taylor & Francis Journals, vol. 27(5), pages 718-741, September.
    3. Paresh Kumar Narayan & Russell Smyth, 2007. "The Military Expenditure-External Debt Nexus: New Evidence From A Panel Of Middle Eastern Countries," Monash Economics Working Papers 17-07, Monash University, Department of Economics.
    4. Eftychia Nikolaidou, 2016. "The role of military expenditure and arms imports in the Greek debt crisis," Economics of Peace and Security Journal, EPS Publishing, vol. 11(1), pages 18-27, April.
    5. Yemane Wolde-Rufael, 2009. "The Defence Spending-External Debt Nexus In Ethiopia," Defence and Peace Economics, Taylor & Francis Journals, vol. 20(5), pages 423-436, October.

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