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Domestic political and external security determinants of the demand for greek military expenditure

Christos Kollias and Suzanna-Maria Paleologou

Defence and Peace Economics, 2003, vol. 14, issue 6, 437-445

Abstract: By European Union and NATO standards, Greece consistently allocates substantial human and material resources to defence. The Greek defence burden (i.e. military expenditure as a share of GDP) has invariably been appreciably higher than the EU and NATO averages. The paper applies an autoregressive distributed lag model (ARDL) to present cointegrated estimates of the demand function for Greek military expenditure, in which domestic political factors and external security determinants are incorporated. Our empirical findings suggest that Greek defence spending over the period 1960-1998 has been influenced by both external security concerns, namely Turkey, as well as changes in the domestic political scene.

Keywords: Greece; Turkey; Demand For Military Expenditure; Political Determinants; External Security; Cointegration; Autoregressive Distributed Lag Model (search for similar items in EconPapers)
Date: 2003
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DOI: 10.1080/1024269032000085206

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Handle: RePEc:taf:defpea:v:14:y:2003:i:6:p:437-445