The Impact of Military Spending on Economic Growth: The Case of North Cyprus

Mete Feridun, Bansi Sawhney and Muhammad Shahbaz

Defence and Peace Economics, 2011, vol. 22, issue 5, 555-562

Abstract: The present study aims at investigating the causal relationship between defence expenditures and economic growth in the case of North Cyprus using the Autoregressive Distributed Lag (ARDL) bounds testing approach to cointegration and Granger causality tests for the period from 1977 to 2007. The results suggest that the variables in question are in a long-run equilibrium relationship and that there exists a strong, positive unidirectional causality running from defence expenditures to economic growth.

Date: 2011
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Working Paper: The impact of military spending on economic growth: the case of North Cyprus (2011)
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DOI: 10.1080/10242694.2011.562370

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