Munich Personal RePEc Archive

Political Decisions, Defence and Growth

Erdogdu, Oya Safinaz (2006): Political Decisions, Defence and Growth.

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Considering the importance of military expenditures on political and economical success of a government, this empirical study analyzes the relations between political stability, economic growth and military expenditures. Based on the theoretical model developed by Blomberg (1996), the vector autoregression analyzes results for a democratic country indicates the significance of military expenditures on political stability and private sector investment decisions.

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