@article{ref1,
title="Does defence expenditure deter economic growth in Turkey? A cointegration analysis",
journal="Defence and peace economics",
year="2004",
author="Karagol, Erdal and Palaz, Serap",
volume="15",
number="3",
pages="289-298",
abstract="This paper investigates a series of unit root, cointegration and causality tests to ascertain the direction of causality between the growth of GNP and defence expenditure in Turkey for the years 1955-2000. The main conclusion is that there is a long-run equilibrium relationship between GNP and defence expenditures. Furthermore, the short run causality test indicates that there is a unidirectional causality between variables, from defence expenditure to economic growth. In order to see the effect of a shock, we employed impulse response analyses. The results show that GNP decreased during the period then output finally recovered from the initial shock to defence expenditures.<p />",
language="",
issn="1024-2694",
doi="10.1080/10242690320001608908",
url="http://dx.doi.org/10.1080/10242690320001608908"
}