An analytical approach on defense expenditure and economic growth: The case of Turkey and Greece
Abstract
Purpose
The objective of this study is to examine the relationship between defense expenditure and economic growth for Turkey and Greece in the period of 1956‐2003 using yearly data.
Design/methodology/approach
The Engle‐Granger cointegration methodology and Granger causality test are used.
Findings
It is found that these two variables are cointegrated for both countries studied. Unidirectional causality running from economic growth to defense expenditure is only found for Turkey.
Originality/value
The paper ınvestigates the long‐run relationship between defense expenditure and economic growth by conducting cointegration and causality tests in the context of Turkey and Greece over the period 1956‐2003.
Keywords
Citation
Kalyoncu, H. and Yucel, F. (2006), "An analytical approach on defense expenditure and economic growth: The case of Turkey and Greece", Journal of Economic Studies, Vol. 33 No. 5, pp. 336-343. https://doi.org/10.1108/01443580610706564
Publisher
:Emerald Group Publishing Limited
Copyright © 2006, Emerald Group Publishing Limited