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Defense Expenditures and Economic Growth Relationship: A Panel Data Approach for NATO

In: Global Approaches in Financial Economics, Banking, and Finance

Author

Listed:
  • Güldenur Çetin

    (İstanbul Ticaret University)

  • Hasan Hüseyin Yıldırım

    (Balıkesir University)

  • Ayben Koy

    (İstanbul Ticaret University)

  • Cihat Köksal

    (İstanbul Ticaret University)

Abstract

One of the rules of being successful in the international competition is having technology-intensive manufacturing areas. The investments made in the defense industry, and the recognition of the products that are being produced in this area as technology-intensive products, are increasing the importance of the defense expenditures and the economic growth relationship. Increases in defense spending cause greater investments in industrial sectors. Secondly, economic growth affects the competitiveness of the countries prominently. Thirdly, public expenditures can lead to an increase in investments and growth. This study brings to light the relationship between military expenditures and economic growth for NATO member countries. In the period from 2000 to 2015 for 27 NATO member countries, the two-way direction of the relationship is found by using panel data techniques.

Suggested Citation

  • Güldenur Çetin & Hasan Hüseyin Yıldırım & Ayben Koy & Cihat Köksal, 2018. "Defense Expenditures and Economic Growth Relationship: A Panel Data Approach for NATO," Contributions to Economics, in: Hasan Dincer & Ümit Hacioglu & Serhat Yüksel (ed.), Global Approaches in Financial Economics, Banking, and Finance, chapter 0, pages 131-149, Springer.
    • Handle: RePEc:spr:conchp:978-3-319-78494-6_6
    DOI: 10.1007/978-3-319-78494-6_6
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