Alternative models of Greek defence expenditures

Christos Avramides

Defence and Peace Economics, 1997, vol. 8, issue 2, 145-187

Abstract: This paper models and estimates Greek defence spending over the 1950-1989 period. It employs the Stone-Geary welfare function and estimates levels of defence expenditures by the Engle-Granger two-step procedure. The Dickey-Fuller test regression for cointegration is specified in terms of the significance of additional augmentations. The Deaton-Muellbauer functional form is then employed and an estimating equation for the expenditure share of defence is derived. This specification is compared with the levels equation through a number of non-nested tests involving model transformation.

Keywords: Greece; Defence spending; Stone-Geary utility function; Deaton-Muellbauer functional form; Cointegration; Non-nested tests (search for similar items in EconPapers)
Date: 1997
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DOI: 10.1080/10430719708404874

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