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An Econometric Analysis Of The Effects Of Aggregate Defense Spending On Aggregate Output: The Case Of Turkey, 1950-2002

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Halicioglu Ferda

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Abstract

This study utilizes the new macroeconomic theory and multivariate cointegration analysis in search of the effects of aggregate defense spending on aggregate output in Turkey. This study provides the empirical evidence that there is a strong positive long-run relationship between aggregate defense spending and aggregate output in Turkey over the estimation period. The findings of this study contradict the previous empirical results on the same topic obtained from the neoclassical production function and traditional regression analysis. JEL Classification: E69; E60; H50.

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Paper provided by EconWPA in its series Macroeconomics with number 0503009.

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Date of creation: 11 Mar 2005
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Handle: RePEc:wpa:wuwpma:0503009

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Related research
Keywords: Aggregate defense spending; Aggregate output; Cointegration analysis; Turkey;

Find related papers by JEL classification:
E - Macroeconomics and Monetary Economics

This paper has been announced in the following NEP Reports:

References listed on IDEAS
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  2. Feder, Gershon, 1983. "On exports and economic growth," Journal of Development Economics, Elsevier, vol. 12(1-2), pages 59-73. [Downloadable!] (restricted)
  3. Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March. [Downloadable!] (restricted)
  4. John B. Taylor, 2000. "Teaching Modern Macroeconomics at the Principles Level," American Economic Review, American Economic Association, vol. 90(2), pages 90-94, May. [Downloadable!] (restricted)
  5. Gülay Günlük-Senesen, 2002. "Budgetary Trade-Offs Of Security Expenditures In Turkey," Defence and Peace Economics, Taylor and Francis Journals, vol. 13(5), pages 385-403, January. [Downloadable!] (restricted)
  6. Benoit, Emile, 1978. "Growth and Defense in Developing Countries," Economic Development and Cultural Change, University of Chicago Press, vol. 26(2), pages 271-80, January.
  7. Johansen, Soren, 1991. "Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models," Econometrica, Econometric Society, vol. 59(6), pages 1551-80, November. [Downloadable!] (restricted)
  8. 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.
  9. David Romer, 2000. "Keynesian Macroeconomics without the LM Curve," Journal of Economic Perspectives, American Economic Association, vol. 14(2), pages 149-169, Spring. [Downloadable!] (restricted)
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  10. Granger, Clive W J, 1997. "On Modelling the Long Run in Applied Economics," Economic Journal, Royal Economic Society, vol. 107(440), pages 169-77, January. [Downloadable!] (restricted)
  11. Gonzalo, Jesus, 1994. "Five alternative methods of estimating long-run equilibrium relationships," Journal of Econometrics, Elsevier, vol. 60(1-2), pages 203-233. [Downloadable!] (restricted)
  12. Hannah Galvin, 2003. "The Impact Of Defence Spending On The Economic Growth Of Developing Countries: A Cross-Section Study," Defence and Peace Economics, Taylor and Francis Journals, vol. 14(1), pages 51-59, February. [Downloadable!] (restricted)
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