Examination of the Relationship Between Defense Expenditures and Development: Panel Data Analysis
DOI:
https://doi.org/10.62844/jerf.3Keywords:
Military Expenditures, Development, Military Keynesian Approach, Human Development Index, Panel Data Analysis.Abstract
When developed countries are examined, it is seen that they have completed their industrialization phase. Industrialized countries correspond to developed countries today. The defense industry occupies an important position in the entire industry. The defense industry, which is a branch of the industry, constitutes the most important layer. Within the framework of the Military Keynesian approach, it contributes to economic development by the fact that defense expenditures cause economic growth and spread to the civilian sector by creating positive externalities. Unlike the studies in the literature, the relationship between development and defense expenditures has been studied with a broad perspective on the Human Development Index. From this point of view, the relationship between defense expenditures and development of 11 NATO member countries selected for the period of 1990-2018 has been examined econometrically. In the study in which panel data analysis was applied, while the coefficients of military expenditures, arms exports and R&D were statistically positive and significant; The coefficient of the armed forces turned out to be negative but statistically significant. Therefore, it can be said that there is a significant and positive relationship between defense expenditures and development.
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