IDEAS home Printed from https://ideas.repec.org/a/rej/journl/v15y2012i44p163-182.html
   My bibliography  Save this article

Economic Growth and Defense Spending in Greece, Turkey and Cyprus: Evidence from Cointegrated Panel Analysis

Author

Listed:
  • Stylianou Tasos

    () (University of Macedonia, Department of Applied Informatics)

Abstract

This paper investigates the nexus between economic growth and defense spending for three adjacent countries, namely Greece, Turkey and Cyprus. Greece and Cyprus, members-countries of European Union spend much more money than other member countries of EU relatively to their GDP. Turkey is in accession negotiations with EU and is among the top 15 countries with the highest military expenditure. These three countries are particularly interesting case studies because of their high military burdens and the bad relations between them (Greece and Cyprus opposite Turkey). The empirical analysis is based on panel data analysis of data over the period 1960 – 2006.

Suggested Citation

  • Stylianou Tasos, 2012. "Economic Growth and Defense Spending in Greece, Turkey and Cyprus: Evidence from Cointegrated Panel Analysis," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 15(44), pages 163-182, June.
  • Handle: RePEc:rej:journl:v:15:y:2012:i:44:p:163-182
    as

    Download full text from publisher

    File URL: http://www.rejournal.eu/sites/rejournal.versatech.ro/files/articole/2012-06-01/2032/10tasos.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Dakurah, A. Henry & Davies, Stephen P. & Sampath, Rajan K., 2001. "Defense spending and economic growth in developing countries: A causality analysis," Journal of Policy Modeling, Elsevier, vol. 23(6), pages 651-658, August.
    2. Deger, Saadet & Sen, Somnath, 1983. "Military expenditure, spin-off and economic development," Journal of Development Economics, Elsevier, vol. 13(1-2), pages 67-83.
    3. J. Paul Dunne a,† & Sam Perlo-Freeman ‡ & Aylin Soydan §, 2004. "Military expenditure and debt in South America," Defence and Peace Economics, Taylor & Francis Journals, vol. 15(2), pages 173-187, April.
    4. Christos Kollias & Stelios Makrydakis, 1997. "Is there a Greek-Turkish arms race?: Evidence from cointegration and causality tests," Defence and Peace Economics, Taylor & Francis Journals, vol. 8(4), pages 355-379.
    5. Looney, Robert E, 1989. "Impact of Arms Production on Income Distribution and Growth in the Third World," Economic Development and Cultural Change, University of Chicago Press, vol. 38(1), pages 145-153, October.
    6. Paresh Kumar Narayan & Russell Smyth, 2007. "The Military Expenditure-External Debt Nexus: New Evidence From A Panel Of Middle Eastern Countries," Monash Economics Working Papers 17-07, Monash University, Department of Economics.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Economic growth; Defense spending; Panel Data; Unit Root; Cointegration;

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

    Statistics

    Access and download statistics

    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:rej:journl:v:15:y:2012:i:44:p:163-182. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Radu Lupu). General contact details of provider: http://edirc.repec.org/data/frasero.html .

    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.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.