Military Expenditure and Economic Growth in Greece, 1960-90

Datos Bibliográficos

ID3916048
AutoresNicholas Antonakis (University of Athens & Ministry of Industry, Energy and Technology, Athens, autor de correspondencia)
Año1997
Volumen34
Número1
Páginas89-100
Fecha de publicación1997-02-01
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaJournal of Peace Research (JOURNAL)
Identificadores de la revistaISSN: 0022-3433 • E-ISSN: 1460-3578
EditorialSAGE Publications Inc (PUBLISHER)
DOI10.1177/0022343397034001007
OpenAlexW2097561588
IdiomaEN
Citas recibidas5
Referencias citadas53

There is much controversy in the literature over whether military expenditure is associated with higher or lower growth rates. Most studies on the subject utilize cross-sectional data, and the diversity in their conclusions is attributed mainly to sample variations and differences in the specificational choices and time periods examined. Moreover, to the extent that various regions of the world differ substantially in the natural environments they face and in socioeconomic structures, it is inappropriate to generalize the effects of military expenditure across countries. These facts point to the need for case-specific studies using time-series data for individual countries. In this context, the present article seeks to contribute to current research in the area by investigating the growth effects of military expenditure in the case of Greece over the post-war period. Basically, military expenditure can affect economic growth through both direct and indirect spin-offs, the reallocation of resources and the creation of new resources. Those influences can be captured by a simultaneous equation model comprising three equations, namely growth, savings and military burden. In the context of the general-to-specific approach, the estimation of this model for the Greek economy over the period 1960-90, reveals that the combined effect of military expenditure on the output growth rate is negative, independently of the level of significance used in calculating of the relevant multiplier

Affect (linguistics) · Context (archaeology) · Demographic economics · Development economics · Econometrics · Economics · Environmental health · Estimation · Geography · Socioeconomic status · Defense, Military, and Policy Studies · Economic Growth and Productivity · Fiscal Policy and Economic Growth · Medicine · Psychology