Defence Spending and Growth in Cyprus: A Causal Analysis

The causal relationship between economic growth and defence spending has attracted considerable attention and has been the subject of many empirical studies. Hoping to contribute to the existing pool of literature, this paper examines the relationship between military expenditure and growth in the c...

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Published inDefence and peace economics Vol. 15; no. 3; pp. 299 - 307
Main Authors Kollias, Christos, Naxakisb, Charis, Zarangasb, Leonidas
Format Journal Article
LanguageEnglish
Published Switzerland Taylor and Francis Ltd 01.06.2004
Taylor and Francis Journals
Taylor & Francis LLC
SeriesDefence and Peace Economics
Subjects
Causality
Cointegration
Cointegration analysis
Conflict
Cyprus
Defence policy
Defense spending
Economic growth
Economic theory
Economics
JEL Code: H56
Military expenditure
Peace studies
Structural breaks
Studies
Warfare
Cyprus
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Summary:The causal relationship between economic growth and defence spending has attracted considerable attention and has been the subject of many empirical studies. Hoping to contribute to the existing pool of literature, this paper examines the relationship between military expenditure and growth in the case of Cyprus, a small island economy, for the period 1964-99. The findings reported suggest the presence of bi-directional instantaneous causality between defence spending and economic growth.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
ISSN:1024-2694
1476-8267
DOI:10.1080/1024269032000166864