Karagol, Erdal; Palaz, Serap - In: Defence and Peace Economics 15 (2004) 3, pp. 289-298
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...