Nothing Special   »   [go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/sae/joupea/v34y1997i1p89-100.html
   My bibliography  Save this article

Military Expenditure and Economic Growth in Greece, 1960-90

Author

Listed:
  • Nicholas Antonakis

    (University of Athens & Ministry of Industry, Energy and Technology, Athens)

Abstract
There is much controversy in the literature over whether military expenditure is associated with higher or lower growth rates. Most studies on the subject utilize cross-sectional data, and the diversity in their conclusions is attributed mainly to sample variations and differences in the specificational choices and time periods examined. Moreover, to the extent that various regions of the world differ substantially in the natural environments they face and in socioeconomic structures, it is inappropriate to generalize the effects of military expenditure across countries. These facts point to the need for case-specific studies using time-series data for individual countries. In this context, the present article seeks to contribute to current research in the area by investigating the growth effects of military expenditure in the case of Greece over the post-war period. Basically, military expenditure can affect economic growth through both direct and indirect spin-offs, the reallocation of resources and the creation of new resources. Those influences can be captured by a simultaneous equation model comprising three equations, namely growth, savings and military burden. In the context of the general-to-specific approach, the estimation of this model for the Greek economy over the period 1960-90, reveals that the combined effect of military expenditure on the output growth rate is negative, independently of the level of significance used in calculating of the relevant multiplier.

Suggested Citation

  • Nicholas Antonakis, 1997. "Military Expenditure and Economic Growth in Greece, 1960-90," Journal of Peace Research, Peace Research Institute Oslo, vol. 34(1), pages 89-100, February.
    • Handle: RePEc:sae:joupea:v:34:y:1997:i:1:p:89-100
    as

    Download full text from publisher

    File URL: http://jpr.sagepub.com/content/34/1/89.abstract
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Halicioglu Ferda, 2004. "Defense Spending and Economic Growth in Turkey: An Empirical Application of New Macroeconomic Theory," Review of Middle East Economics and Finance, De Gruyter, vol. 2(3), pages 34-43, December.
    2. ANDREOU, ANDREAS & PARSOPOULOS, KONSTANTINE & VRACHATIS, MICHAEL & Zombanakis, George A., 2003. "Optimal Versus Required Defence Spending," MPRA Paper 78663, University Library of Munich, Germany, revised 14 Jul 2003.
    3. Garfinkel, Michelle R. & Skaperdas, Stergios (ed.), 2012. "The Oxford Handbook of the Economics of Peace and Conflict," OUP Catalogue, Oxford University Press, number 9780195392777.
    4. Julien Malizard, 2010. "Causality Between Economic Growth and Military Expenditure: The Case of France," Defense & Security Analysis, Taylor & Francis Journals, vol. 26(4), pages 401-413, December.
    5. Andreou, Andreas S. & Zombanakis, George, 2003. "The Greek-Turkish Arms Race Using Artificial Neural Networks," MPRA Paper 78576, University Library of Munich, Germany, revised 14 Jul 2003.
    6. Niklas Potrafke & Markus Reischmann, 2016. "How to Handle the Crisis in Greece? Empirical Evidence Based on a Survey of Economics Experts," CESifo Working Paper Series 5860, CESifo.
    7. Manamperi, Nimantha, 2016. "Does military expenditure hinder economic growth? Evidence from Greece and Turkey," Journal of Policy Modeling, Elsevier, vol. 38(6), pages 1171-1193.
    8. Sefa Awaworyi Churchill & Siew Ling Yew, 2018. "The effect of military expenditure on growth: an empirical synthesis," Empirical Economics, Springer, vol. 55(3), pages 1357-1387, November.
    9. Christos Kollias & Stelios Makrydakis, 2000. "A note on the causal relationship between defence spending and growth in Greece: 1955-93," Defence and Peace Economics, Taylor & Francis Journals, vol. 11(1), pages 173-184.
    10. 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.

    More about this item

    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:sae:joupea:v:34:y:1997:i:1:p:89-100. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: http://www.prio.no/ .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.