Defence expenditures have both costs and benefits to the economy. The costs of defence expenditures are mainly emphasized as opportunity costs. On the other hand, defence spending may have growth-promoting potential benefits: a rise in defence spending may result in a higher aggregate demand, production and employment. This paper examines empirically the effects of military expenditures on economic growth for Middle Eastern countries and Turkey, for the time-period 1989--1999. The relationship between military expenditure and economic growth is investigated by using cross-section and dynamic panel estimation techniques. Empirical analysis indicates that military expenditure enhances economic growth in the Middle Eastern countries and Turkey as a whole.
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Volume (Year): 16 (2005) Issue (Month): 4 (August) Pages: 283-295 Download reference. The following formats are available: HTML
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