Andreou, Andreas S. and Zombanakis, George A. (2010): Financial vs human resources in the Greek-Turkish arms race 10 years on. Published in: Defence and Peace Economics , Vol. Vol. 2, No. No. 4, 2011 : pp. 1-11.
Download (371kB) | Preview
This paper looks into the Greek – Turkish arms race a decade after an earlier contribution on the issue that relied heavily on Artificial Neural Networks. The time period between the two papers contributes to the reliability of the results derived, not just by increasing the number of observations, but mainly by incorporating the progress made in the realm of Artificial Intelligence. The focus on the case of both counties unlike the paper mentioned above which dealt with just the Greek side provides ample room for comparative purposes regarding the determinants of defence spending on both sides. The results derived in terms of input significance estimation support the findings of earlier research as indicated above, pointing to the leading role of the demographic preponderance of Turkey over Greece. The paper also points to the fact that ten years later, Turkey continues to set the arms race rules against its rival by determining the defence expenditure of Greece while the role of the latter in affecting the military spending of Turkey is non-existent.
|Item Type:||MPRA Paper|
|Original Title:||Financial vs human resources in the Greek-Turkish arms race 10 years on|
|Keywords:||Greece; Turkey; Arms Race; Neural Networks|
|Subjects:||C - Mathematical and Quantitative Methods > C4 - Econometric and Statistical Methods: Special Topics > C45 - Neural Networks and Related Topics
H - Public Economics > H5 - National Government Expenditures and Related Policies > H56 - National Security and War
|Depositing User:||Zombanakis A. George|
|Date Deposited:||01. May 2012 20:40|
|Last Modified:||28. Aug 2015 07:11|
Andreou. A. S. and Zombanakis, G. A. (2000) Financial versus Human Resources in the Greek - Turkish Arms Rice. A Forecasting Investigation Using Artificial Neural Networks. Defence and Peace Economics. 11(4), 403 426.
Andreou, A. S., Parsopoulos, K., Vrahatis, M. and Zombanakis, G. A. (2002) Optimal Versus Required Defence Expenditure: The Case of the Greek – Turkish Arms Race. Defence and Peace Economics 13(4), 329 – 347.
Andreou, A. S. and Zombanakis. G. A. (2006) The Arms Race between Greece and Turkey: Commenting on a Major Unresolved Issue. Peace Economics, Peace Science and Public Policy 12(1), Article 2, (online).
Athanassiou, E. and Kollias, C. (2002) Modeling the Effects of Military Tension on Foreign Trade; Some Preliminary Empirical Findings From the Greek – Turkish Rivalry. Defence and Peace Economics 13(5), 417-427.
Azoff, E. M. (1994) Neural Network Time Series Forecasting of Financial Markets. John Wiley & Sons, N.Y.
Brauer, J. (2002) Survey and Review of the Defense Economics Literature on Greece and Turkey: What Have We Learned? Defence and Peace Economics 13(2), 85-107.
Brauer, J. (2003) Greece and Turkey: A Comprehensive, Critical Review of the Defense Economics Literature. In the Greece and Turkey in the 21st Century: Conflict or Cooperation – The Political Economy Perspective, edited by Kollias C. and Gόnlόk - Senesen G., 193-242, Nova Science Publishers, New York.
Dunne, J. P., Nikolaidou, E. and Smith, R. P. (2005) Is There an Arms Race between Greece and Turkey? Peace Economics, Peace Science and Public Policy, 11(2), article 1, http://www.bepress.com/peps/vol11/iss2/1/
Haykin, S. (1999). Neural Networks: A Comprehensive Foundation,Prentice Hall, Upper Saddle River, New Jersey.
Hendry, D. F. and Ericsson, N. R. (1991) An Econometric Analysis of UK Money Demand in Monetary Trends in the US and the UK by M. Friedman and A. Schwartz, American Economic Review 81, 8-38.
Kollias, C. and Paleologou, S.M. (2002) Is There a Greek – Turkish Arms Race? Some Further Empirical Results from Causality Tests. Defence and Peace Economics 13(4), 321-328.
Kollias, C. and Paleologou, S.M. (2003) Domestic Political and External Security Determinants of the Demand for Greek Military Expenditure. Defence and Peace Economics 14(6), 437-445.
Kollias, C. and Paleologou, S.M. (2004) An Empirical Examination of the Arms Race between Greece and Turkey ( 1950-1999 ) ( In Greek with English Summary ) Review of Economic Sciences 5, 65-88.
Kollias, C. and Sirakoulis, K. (2002) Arms Racing and the Costs of Arms Imports. Defence and Peace Economics 13(2), 137-143.
Kuo, C. and Reitsch, A. (1995) Neural Networks vs. Conventional Methods of Forecasting. The Journal of Business Forecasting, Winter 1995-1996, 17-22.
McCulloch, W.S. and Pitts, W. (1943) A Logical Calculus of the Ideas Immanent in Nervous Activity, Bulletin of Mathematical Biology 5(4), 115-133.
Öcal, N. (2002). Asymmetric Effects of Military Expenditure between Turkey and Greece. Defence and Peace Economics 13(5), 405-416.
Refenes, A.N., Kollias, C. and Zarpanis A. (1995) External Security Determinants of Greek Military Expenditure: An Empirical Investigation Using Neural Networks. Defence and Peace Economics 6, 27-41.
Rumelhart, D.E. and McLelland, J. (1986) Parallel Distributed Processing. Cambridge, MA, MIT Press.
Sahin, H. and Ozsoy, O. (2008) Arms Race Betwen Greece and Turkey: A Markov Switching Approach, Defence and Peace Economics, 19(3), 209-216.
Smith, R.P., Sola, M. and Spagniolo, F. (2000) The Prisoner’s Dilemma and Regime – Switching in the Greek – Turkish Arms Race. Journal of Peace Research 37(6), 737-750.