Investigation of the Greek – Turkish Military Spending Relation
In this paper, the relation between the Greek and Turkish military spending is investigated, examining first the identification of its exact statistical form, and second, a diachronically constant ratio between the two magnitudes. Using annual nominal data over the period from 1949 to 2008, the stationarity of the series is tested by performing a sequential Augmented Dickey-Fuller (ADF) and a Kwiatkowski–Phillips–Schmidt–Shin (KPSS) unit root test. Both the long–run equilibrium relation among the series of the Greek and Turkish military spending and their diachronically constant ratio are estimated following a Johansen cointegration analysis. Copyright International Atlantic Economic Society 2012
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Volume (Year): 18 (2012)
Issue (Month): 3 (August)
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