@article{ref1,
title="Defence expenditures and external debt in Turkey",
journal="Defence and peace economics",
year="2005",
author="Karagol, Erdal",
volume="16",
number="2",
pages="117-125",
abstract="The causal relationship between defence expenditures and external debt is investigated by applying a multivariate model. Our estimation results indicate that defence expenditures and external debt for Turkey are cointegrated. To test for Granger causality in the presence of cointegration between variables, we employ a vector error correction model. Empirical results for Turkey over the period 1955-2000 suggest a long run and short run unidirectional causality running from defence expenditures to external debt but not vice versa.<p />",
language="",
issn="1024-2694",
doi="10.1080/10242690500070045",
url="http://dx.doi.org/10.1080/10242690500070045"
}