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Military Expenditures and Economic Growth in Central and Eastern EU Countries: Evidence from the Post-Cold War Era

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  • Topcu, Mert
  • Aras, Ä°lhan

Abstract

Although the relationship between military expenditures and economic growth is well documented for the old members of the European Union, empirically little is known for the new members. Thus, the goal of this paper is to investigate the economic impact of military expenditures in Central and Eastern European countries employing panel cointegration and causality methods for the period 1993–2013. Findings indicate that the variables in question do not move together in the long run and the direction of causality in the short run is from economic growth to military expenditures. The implications of the results for international relations are discussed.

Suggested Citation

  • Topcu, Mert & Aras, Ä°lhan, 2017. "Military Expenditures and Economic Growth in Central and Eastern EU Countries: Evidence from the Post-Cold War Era," European Review, Cambridge University Press, vol. 25(3), pages 453-462, July.
    • Handle: RePEc:cup:eurrev:v:25:y:2017:i:03:p:453-462_00
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    Cited by:

    1. Xinyi Wang & Na Hou & Bo Chen, 2023. "Democracy, military expenditure and economic growth: A heterogeneous perspective," Defence and Peace Economics, Taylor & Francis Journals, vol. 34(8), pages 1039-1070, November.
    2. Ran Tao & Oana Ramona Glonț & Zheng-Zheng Li & Oana Ramona Lobonț & Adina Alexandra Guzun, 2020. "New Evidence for Romania Regarding Dynamic Causality between Military Expenditure and Sustainable Economic Growth," Sustainability, MDPI, vol. 12(12), pages 1-13, June.

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