Skip to main content
padlock icon - secure page this page is secure

Military expenditure and government debt in greece: Some preliminary empirical findings

Buy Article:

$54.00 + tax (Refund Policy)

Greece has over the years allocated substantial human and material resources to defence. Its defence burden (i.e. military expenditure as a share of GDP) has invariably been substantially higher than the EU and NATO averages. Furthermore, during the post-bipolar period, when the defence budgets of most countries shrunk, Greek defence spending grew in real terms. This paper contributes to the existing literature on Greek defence spending and its effects by empirically estimating the impact of such expenditures on the country's fiscal situation during the period 1960-2001 something that has largely been ignored in the relevant literature. In particular, it focuses on the effects of military spending on government debt and its two components: internal and external debt. The empirical findings reported here suggest that central government debt and, in particular, external debt has been adversely influenced by military expenditure but also by the domestic political cycle.
No Reference information available - sign in for access.
No Citation information available - sign in for access.
No Supplementary Data.
No Article Media
No Metrics

Keywords: Greece; H56, H63; JEL Classification; military expenditure; public debt

Document Type: Research Article

Affiliations: 1: Department of Business Administration TEI of Larissa Greece 2: Directorate General for Economic Policy Ministry of Economy & Finance Greece 3: Council of Economic Advisers Ministry of Economy & Finance Greece

Publication date: April 1, 2004

More about this publication?
  • Access Key
  • Free content
  • Partial Free content
  • New content
  • Open access content
  • Partial Open access content
  • Subscribed content
  • Partial Subscribed content
  • Free trial content
Cookie Policy
Cookie Policy
Ingenta Connect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more