Abstract
This paper is another attempt to be a link between studies on political stability and growth and studies on military expenditures and growth. However, despite the other two studies in that concept, this paper takes military expenditures as a tool of a democratic government to achieve economic stability and growth. For that purpose, the paper takes political economics and defense literature arguments together and provides and empirical analyzes of the relations between political stability, economic growth and military expenditures. Based on the theoretical model developed by Blomberg (1996), the vector autoregression analyzes for Turkey, a democratic country open to all kinds of terrorism, indicates the positive impact of military expenditures on private sector investment decisions and so on economic growth.
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