Title
Concerns on the issue of defence expenditure in the post-crisis Greece
Authors
[ 1 ] Department of Economics, The American College of Greece
Year of publication
2019
Published in
Article type
scientific article
Publication language
english
Keywords
EN
- Defence expenditure
- Economic growth
- Arms races
Abstract
EN The paper aims to tackle a controversial issue, namely the anticipated developments regarding defence expenditure once the Greek economy returns to growth. Such a comeback is expected to occur following a prolonged recessionary period during which defence spending cuts were a top priority, as recommended by the IMF, the ECB and the EC, members of the so-called “Troika”. The paper uses both conventional econometrics as well as neural networks to consider and evaluate the hierarchy’s ordering of the determinants used in such a demand for defence expenditure based on their explanatory power. While the role of property resources is certainly pronounced, as expected, human resources variables also seem to be able to explain defence spending developments, especially in the recent past. A forecasting investigation based on this background points to a number of interesting conclusions on the anticipated developments concerning defence spending in the future as well as on the determinants of such developments which might represent a threat to NATO cohesion.
Date of online publication
28.01.2019
Pages (from - to)
177 - 201
License type
CC BY-NC-ND (attribution - noncommercial - no derivatives)
Open Access Mode
open journal
Open Access Text Version
final published version
Release date
28.01.2019
Date of Open Access to the publication
at the time of publication
Ministry points / journal
20
Ministry points / journal in years 2017-2021
70
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