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Panel Cointegration Analysis of Military Expenditure and Economic Growth in the Selected Balkan Countries
| Content Provider | Scilit |
|---|---|
| Author | Kalaš, Branimir Mirović, Vera Milenković, Nada |
| Copyright Year | 2021 |
| Abstract | The issue of security and safety i s a fundamental condition for stable economic trends. Military expenditure can be a very powerful tool for a rapid economic growth. The paper examines the long-run relationship between military expenditure and economic growth in the selected Balkan countries, such as Albania, Bosnia and Herzegovina, Croatia, Montenegro, North Macedonia, Serbia and Slovenia for the period 2004-2018. The analysis implies a panel unit root test, a panel cointegration test, as well as a panel Granger causality test. The results have identified a long-run relationship between military expenditure and economic growth in the Balkan countries based on panel data analysis. Also, empirical findings have confirmed that shock experience in one of the countries’ military expenditure and economic growth have effect on other countries. Finally, the results have determined unidirectional causality from military expenditure to economic growth in these countries and not vice versa. |
| Related Links | https://www.sciendo.com/pdf/10.2478/ethemes-2021-0021 |
| Ending Page | 390 |
| Page Count | 16 |
| Starting Page | 375 |
| e-ISSN | 22173668 |
| DOI | 10.2478/ethemes-2021-0021 |
| Journal | Economic Themes |
| Issue Number | 3 |
| Volume Number | 59 |
| Language | English |
| Publisher | Walter de Gruyter GmbH |
| Publisher Date | 2021-09-01 |
| Access Restriction | Open |
| Subject Keyword | Economic Themes Panel Military Expenditure Economic Growth Balkan Countries Expenditure and Economic Safety Cointegration Causality Journal: Economic Themes, Vol- 59 |
| Content Type | Text |
| Resource Type | Article |
