IDEAS home Printed from https://ideas.repec.org/a/bpj/pepspp/v27y2021i4p531-548n4.html
   My bibliography  Save this article

Defence Spending and Sovereign Debt in Greece: A Long-Term Historical Perspective

Author

Listed:
  • Kollias Christos
  • Zouboulakis Michel

    (Laboratory of Economic Policy and Strategic Planning, Department of Economics, University of Thessaly, Volos, Greece)

  • Paleologou Suzanna-Maria

    (Department of Economics, Aristotle University of Thessaloniki, Thessaloniki, Greece)

Abstract

The paper sets out to examine the military spending-public debt nexus in the case of Greece. Unlike previous studies that exclusively focus their analyses in the post-WWII period, the empirical investigation conducted herein covers almost the entire two hundred years of the modern Greek state. The estimations using an ARDL framework cover the period 1848–2018 as well as sub-periods therein. To the best of our knowledge, this is the first paper to approach this issue in the case of Greece with such a long-term perspective. In broad terms, the findings do not unearth a statistically traceable effect of defence expenditures on public debt accumulation. The results indicate that this was very much driven by debt dynamics and the need to draw funds to service existing loans. This finding is consistent across both the entire period under scrutiny here as well as the various sub-periods.

Suggested Citation

  • Kollias Christos & Zouboulakis Michel & Paleologou Suzanna-Maria, 2021. "Defence Spending and Sovereign Debt in Greece: A Long-Term Historical Perspective," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 27(4), pages 531-548, December.
    • Handle: RePEc:bpj:pepspp:v:27:y:2021:i:4:p:531-548:n:4
    DOI: 10.1515/peps-2021-0020
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/peps-2021-0020
    Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.
    File URL: https://libkey.io/10.1515/peps-2021-0020?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Caruso Raul & Antonella Biscione, 2022. "Militarization and Income Inequality in European Countries (2000–2017)," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 28(3), pages 267-285, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bpj:pepspp:v:27:y:2021:i:4:p:531-548:n:4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.degruyter.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.