Abstract
PurposeThe objective of this study is to examine the relationship between defense expenditure and economic growth for Turkey and Greece in the period of 1956‐2003 using yearly data.Design/methodology/approachThe Engle‐Granger cointegration methodology and Granger causality test are used.FindingsIt is found that these two variables are cointegrated for both countries studied. Unidirectional causality running from economic growth to defense expenditure is only found for Turkey.Originality/valueThe paper ınvestigates the long‐run relationship between defense expenditure and economic growth by conducting cointegration and causality tests in the context of Turkey and Greece over the period 1956‐2003.
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