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Defence Spending and Growth in Cyprus: A Causal Analysis

  • Christos Kollias
  • Charis Naxakisb
  • Leonidas Zarangasb

The causal relationship between economic growth and defence spending has attracted considerable attention and has been the subject of many empirical studies. Hoping to contribute to the existing pool of literature, this paper examines the relationship between military expenditure and growth in the case of Cyprus, a small island economy, for the period 1964-99. The findings reported suggest the presence of bi-directional instantaneous causality between defence spending and economic growth.

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Article provided by Taylor & Francis Journals in its journal Defence and Peace Economics.

Volume (Year): 15 (2004)
Issue (Month): 3 ()
Pages: 299-307

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Handle: RePEc:taf:defpea:v:15:y:2004:i:3:p:299-307
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