Have a personal or library account? Click to login
Panel Cointegration Analysis of Military Expenditure and Economic Growth in the Selected Balkan Countries Cover

Panel Cointegration Analysis of Military Expenditure and Economic Growth in the Selected Balkan Countries

Open Access
|Dec 2021

References

  1. Acikgoz, B. & Cinar, S. (2017). Public Spending and Economic Growth: An Empirical Analysis of Developed Countries. Ekonomicky časopis, 65(5), 448-458.
  2. Adhikari, D. & Chen, Y. (2012). Energy Consumption and Economic Growth: A Panel Cointegration Analysis for Developing Countries. Review of Economics & Finance, 3, 68-80.
  3. Alpteki, A. & Levine, P. (2012). Military Expenditure and Economic Growth: A Meta-Analysis. European Journal of Political Economy, 28, 636-650. doi: 10.1016/j.ejpoleco.2012.07.02.10.1016/j.ejpoleco.2012.07.002
  4. Azam, M. & Feng, Y. (2015). Does military expenditure increase external debt? Evidence from Asia. Defence and Peace Economics, 28(5), 550-567. doi: 10.1080/10242694.2015.1072371.10.1080/10242694.2015.1072371
  5. Barros, C. (2002). Development and conflict in the Balkans: Catch-up and military expenditure. Defence and Peace Economics, 13(5), 353-363. doi: 10.1080/10242690213510.10.1080/10242690213510
  6. Benoit, E. (1978). Growth and Defence in LDCs. Economic Development and Cultural Change, 26: 271-280.10.1086/451015
  7. Biscione, A. & Caruso, R. (2019). Military Expenditures and Income Inequality Evidence form a Panel of Transition Countries (1990-2015). Defence and Peace Economics: 1-22. doi: 10.1080/10242694.2019.1661218.10.1080/10242694.2019.1661218
  8. Cevik, S. & Ricco, S. (2017). No Buck for the Bang: Revisiting the Military-Growth Nexus. Empirica 45, 639-653. doi: 10.1007/s10663-017-9380-8.10.1007/s10663-017-9380-8
  9. Churchill, S. & Yew, S.Y. (2017). The Effect of Military Expenditure on Growth: An Empirical Synthesis. Empirical Economics, 55, 1357-1387. doi: 10.1007/s00181-017-1300-z.10.1007/s00181-017-1300-z
  10. Compton, R. & Paterson, B. (2015). Military Spending and Growth: The Role of Institutions. Defence and Peace Economics, 27(3), 301-322. doi: 10.1080/10242694.2015.1060022.10.1080/10242694.2015.1060022
  11. Daddi, P., D’Agostino, G. & Pieroni, L. (2016): Does military spending stimulate growth? An empirical investigation in Italy. Defence and Peace Economics, 29(4), 440-458. doi: 10.1080/10242694.2016.1158438.10.1080/10242694.2016.1158438
  12. D’Agostino, G., Dune, J.P. & Pieroni, L. (2017). Military Expenditure, Endogeneity and Economic Growth. Defence and Peace Economics, 30(5), 1-16. doi: 1080/10242694.2017.1422314.10.1080/10242694.2017.1422314
  13. D’Agostino, G., Dunne, J.P., Lorusso, M. & Pieroni, L. (2020). Military Spending, Corruption, Persistence and Long Run Growth. Defence and Peace Economics, 1-11. doi: 10.1080/10242694.2020.1751503.10.1080/10242694.2020.1751503
  14. Dimitraki, O. & Menla-Ali, F. (2015). The Long-Run Causal Relationship between Military Expenditure and Economic Growth in China: Revisited. Defence and Peace Economics, 26(3), 311-326. doi: 10.1080/10242694.2013.810024.10.1080/10242694.2013.810024
  15. Dimitraki, O. & Win, S. (2020). Military Expenditure Economic Growth Nexus in Jordan: An Application of ARDL Bound Test Analysis in the Presence of Breaks. Defence and Peace Economics, 1-18. doi: 10.1080/10242694.2020.173011.10.1080/10242694.2020.1730113
  16. Domazet, I., Zubović, J. & Lazić, M. (2018). Driving Factors of Serbian Competitiveness – Digital Economy and ICT. Strategic Management, 23(1), 20-28.10.5937/StraMan1801020D
  17. Dunne, J.P. & Tian, N. (2013). Military Expenditure, Economic Growth and Heterogeneity. Defence and Peace Economics, 26(1), 15-31. doi: 10.1080/10242694.2013.848575.10.1080/10242694.2013.848575
  18. Dunne, J.P. & Smith, R.P. (2019). Military Expenditure, Investment and Growth. Defence and Peace Economics, 1-14. doi: 10.1080/10242694.2019.1636182.10.1080/10242694.2019.1636182
  19. Emmanoulidis, K. & Karpetis, C. (2018). The Defense-Growth Nexus: A Review of Time Series Methods and Empirical Results. Defence and Peace Economics, 1-18. doi: 10.1080/10242694.2018.1428261.10.1080/10242694.2018.1428261
  20. Hou, N. & Chen, B. (2013). Military expenditure and economic growth in developing countries: Evidence from system GMM estimates. Defence and Peace Economics, 24(3), 183-193. doi: 10.1080/10242694.2012.710813.10.1080/10242694.2012.710813
  21. Farzanegan, M.R. (2012). Military Spending and Economic Growth: The Case of Iran. Defence and Peace Economics, 25(3), 247-269. doi: 10.1080/10242694.2012.72316010.1080/10242694.2012.723160
  22. Furuoka, F., Oishi, M. & Karim, M. (2014). Military expenditure and economic development in China: an empirical inquiry. Defence and Peace Economics, 27(1), 137-160. doi: 10.1080/10242694.2014.898383.10.1080/10242694.2014.898383
  23. Khalid, U. & Habimana, O. (2019). Military Spending and Economic Growth in Turkey: A Wavelet Approach. Defence and Peace Economics, 1-15. doi: 10.1080/10242694.2019.1664865.10.1080/10242694.2019.1664865
  24. Kollias, C., Paleologou, S.M., Tzeremes, P. & Tzeremes, N. (2017). Defence expenditure and economic growth in Latin American countries: evidence from linear and nonlinear causality tests. Latin American Economic Reviews, 26(2), 1-25. doi: 10.1007/s40503-017-0039-4.10.1007/s40503-017-0039-4
  25. Kollias, C. & Paleologou. S. (2019). Military Spending, Economic Growth and Investment: A Disaggregated Analysis by Income Group. Empirical Economics, 56(3), 935-958. doi: 10.1007/s00181-017-1379-2.10.1007/s00181-017-1379-2
  26. Loganathan, N., Ismail, S., Streimikiene, D., Hassan, A., Zavadskas, E. & Mardini, A. (2018). Tax Reform, Inflation, Financial Development and Economic Growth in Malaysia. Romanian Journal of Economic Forecasting, 20(4), 152-165.
  27. Malizard, J. (2010). Causality between Economic Growth and Military Expenditure: The Case of France. Defence & Security Analysis, 26(4), 401-413. doi: 10.1080/14751798.2010.534648.10.1080/14751798.2010.534648
  28. Malizard, J. (2016). Military Expenditure and Economic Growth in the European Union: Evidence from SIPRI’s Extended Dataset. Economics of Peace and Security Journal, 11(2): 38–44.10.15355/epsj.11.2.38
  29. Manamperi, N. (2016). Does Military Expenditure Hinder Economic Growth? Evidence from Greece and Turkey. Journal of Policy Modeling, 38(6), 1171–1193. doi: 10.1016/j.jpolmod.2016.04.003.10.1016/j.jpolmod.2016.04.003
  30. Markowski, S., Chand, S. & Wylie, R. (2017). Economic Growth and Demand for Military Expenditure in the Indo-Pacific Asia Region. Defence and Peace Economics, 28(4), 473-490. doi: 10.1080/10242694.2016.1274059.10.1080/10242694.2016.1274059
  31. Nikolaidou, E. (2016). Greece, Portugal, Spain: New Evidence on the Economic Effects of Military Expenditure Using the New SIPRI Data. Economics of Peace and Security Journal, 11(2): 20-27.10.15355/epsj.11.2.20
  32. Pan, C.I., Chang, T. & Wolde-Rufael, Y. (2015). Military spending and economic growth in the Middle East countries: Bootstrap panel causality test. Defence and Peace Economics, 26(4), 443-456. doi: 10.1080/10242694.2014.891356.10.1080/10242694.2014.891356
  33. Petrov, V. & Trivić, N. (2018). The problem of defining and measuring sustainable income. The Annals of the Faculty of Economics in Subotica, 54(39), 19-31.10.5937/AnEkSub1839019P
  34. Pieroni, L. (2009). Military Expenditure and Economic Growth. Defence and Peace Economics, 20(4), 327-339. doi: 10.1080/10242690701589876.10.1080/10242690701589876
  35. Phiri, A. (2017). Does Military Spending Nonlinearly Affect Economic Growth in South Africa? Defence and Peace Economics, 1-14. doi: 10.1080/10242694.2017.1361272.10.1080/10242694.2017.1361272
  36. Saba, C.S. & Ngepah, N. (2019). Military expenditure and economic growth: evidence from a heterogeneous panel of African countries. Economic Research – Ekonomska istraživanja, 32(1), 3586-3606. doi: 10.1080/1331677X.2019.1674179.10.1080/1331677X.2019.1674179
  37. Smith, R. (2017). Military Expenditure Data: Theoretical and Empirical Considerations. Defence and Peace Economics, 28(4), 422-428. doi: 10.1080/10242694.2016.124582310.1080/10242694.2016.1245823
  38. Tiwari, A.K. & Shahbaz, M. (2013). Does defence spending stimulate economic growth in India? A revisit. Defence and Peace Economics, 24(4), 371-395. doi: 10.1080/10242694.2012.710814.10.1080/10242694.2012.710814
  39. Yildrim, J. & Öcal, N. (2014). Military expenditures, economic growth and spatial spillovers. Defence and Peace Economics, 27(1), 87-104. doi: 10.1080/10242694.2014.960246.10.1080/10242694.2014.960246
  40. Yilgör, M., Karagöl, E.T. & Saygili, C.A. (2012). Panel Causality Analysis between Defence Expenditure and Economic Growth in Developed Countries. Defence and Peace Economics, 25(2), 193–203. doi:10.1080/10242694.2012.724879.10.1080/10242694.2012.724879
  41. Yolcu Karadam, J., Yildrim, J. & Öcal, N. (2017). Military expenditure and economic growth in Middle Eastern countries and Turkey: A non-linear panel data approach. Defence and Peace Economics, 28(6): 719-730. doi: 10.1080/10242694.2016.119557310.1080/10242694.2016.1195573
  42. Utrero-González, N., Hromcová, J. & Callado-Muñoz, F.J. (2017). Defence Spending, Institutional Environment and Economic Growth: Case of NATO. Defence and Peace Economics, 1–24. doi:10.1080/10242694.2017.1400292.10.1080/10242694.2017.1400292
DOI: https://doi.org/10.2478/ethemes-2021-0021 | Journal eISSN: 2217-3668 | Journal ISSN: 0353-8648
Language: English
Page range: 375 - 390
Submitted on: Sep 4, 2020
|
Accepted on: Jul 2, 2021
|
Published on: Dec 30, 2021
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year

© 2021 Branimir Kalaš, Vera Mirović, Nada Milenković, published by University of Niš, Faculty of Economics
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.