DEFENCE SPENDING AND THE MACROECONOMY: THE CASE OF TURKEY

Onur Ozsoy

Defence and Peace Economics, 2008, vol. 19, issue 3, 195-208

Abstract: This study uses a six-variable vector autoregressive (VAR) model and analyses the relationship between defence spending as a percentage of GNP, government budget as a percentage of GNP, total deficit as a percentage of GNP, the GNP growth rates, inflation rates, and government budget deficit as a percentage of GNP for the case of Turkey from 1933 to 2004. The impulse response functions (IRFs) are also derived and Granger causalities among the variables estimated. The results support the short-run causality between defence spending and economic growth.

Keywords: Defence expenditure; Macroeconomics; Government budget; VAR; Granger Causality; Impulse Response Functions; Turkey (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1080/10242690801972139

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