The paper examines empirically the relationship between government revenues and expenditures in four European countries: Greece, Spain, Ireland, and Portugal. In relative terms all four may be considered as the poorest members of the European Union. Yet, they present a fairly diverse picture as...

Greece and Turkey are both members of NATO and are two of the principal players in the Balkan region. Their respective defence burdens (i.e. the share of military expenditure to GDP) are the highest in NATO. Their bilateral relations are marred by serious friction and conflict of interest and...

The causal relationship between economic growth and defence spending has attracted considerable attention and has been the subject of many empirical studies. This paper investigates the existence of a causal link between military expenditure and economic growth in the case of Greece for the...

This paper investigates whether the sequence of current account deficits experienced in Greece over the 1950-1995 period have been excessive. The degree of excessiveness is gauged by comparing the actual current account series to an optimal current account measure derived from an intertemporal...