TY  - JOUR
PY  - 2004//
TI  - Does defence expenditure deter economic growth in Turkey? A cointegration analysis
JO  - Defence and peace economics
A1  - Karagol, Erdal
A1  - Palaz, Serap
SP  - 289
EP  - 298
VL  - 15
IS  - 3
N2  - 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 /> 
LA  - 
SN  - 1024-2694
UR  - http://dx.doi.org/10.1080/10242690320001608908
ID  - ref1
ER  -