Koumparoulis, Dimitrios N. - In: Annals of the University of Petrosani, Economics 11 (2011) 2, pp. 155-166
The recent Greek economic crisis calls for severe spending cuts with defence expenditure reduction being a primary target for both the local authorities and the IMF/ECB/EC. The aim of this paper is to show that the results of such a policy recipe may not be as fruitful as policymakers want the...