Munich Personal RePEc Archive

Financial vs human resources in the Greek-Turkish arms race 10 years on

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.

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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.

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