Research Article

Guns, Growth, and Stability: Macroeconomic Impacts of Defense Spending in the Western Balkans and Their Relevance for Türkiye

Volume: 81 Number: 2 March 23, 2026
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Guns, Growth, and Stability: Macroeconomic Impacts of Defense Spending in the Western Balkans and Their Relevance for Türkiye

Abstract

The effects of defense spending on macroeconomic indicators in Balkan countries are significant at both academic and political levels. This study uses econometric methods to evaluate how the issue affects Turkiye's regional security and economic interests, highlighting its strategic and economic implications. The relationship between defense spending and economic growth in five Western Balkan countries—Albania, Bosnia and Herzegovina, Croatia, North Macedonia, and Serbia—was examined using data from 2007 to 2024. Estimates made using Swamy's Random Coefficients Model and Seemingly Unrelated Regression (SUR) models concluded that defense spending has a negative effect on economic gro

Keywords

References

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Details

Primary Language

English

Subjects

Macroeconomic Theory

Journal Section

Research Article

Early Pub Date

March 18, 2026

Publication Date

March 23, 2026

Submission Date

October 1, 2025

Acceptance Date

December 29, 2025

Published in Issue

Year 2026 Volume: 81 Number: 2

APA
İsmiç, B. (2026). Guns, Growth, and Stability: Macroeconomic Impacts of Defense Spending in the Western Balkans and Their Relevance for Türkiye. Ankara Üniversitesi SBF Dergisi, 81(2), 389-407. https://doi.org/10.33630/ausbf.1794254
AMA
1.İsmiç B. Guns, Growth, and Stability: Macroeconomic Impacts of Defense Spending in the Western Balkans and Their Relevance for Türkiye. SBF Dergisi. 2026;81(2):389-407. doi:10.33630/ausbf.1794254
Chicago
İsmiç, Betül. 2026. “Guns, Growth, and Stability: Macroeconomic Impacts of Defense Spending in the Western Balkans and Their Relevance for Türkiye”. Ankara Üniversitesi SBF Dergisi 81 (2): 389-407. https://doi.org/10.33630/ausbf.1794254.
EndNote
İsmiç B (June 1, 2026) Guns, Growth, and Stability: Macroeconomic Impacts of Defense Spending in the Western Balkans and Their Relevance for Türkiye. Ankara Üniversitesi SBF Dergisi 81 2 389–407.
IEEE
[1]B. İsmiç, “Guns, Growth, and Stability: Macroeconomic Impacts of Defense Spending in the Western Balkans and Their Relevance for Türkiye”, SBF Dergisi, vol. 81, no. 2, pp. 389–407, June 2026, doi: 10.33630/ausbf.1794254.
ISNAD
İsmiç, Betül. “Guns, Growth, and Stability: Macroeconomic Impacts of Defense Spending in the Western Balkans and Their Relevance for Türkiye”. Ankara Üniversitesi SBF Dergisi 81/2 (June 1, 2026): 389-407. https://doi.org/10.33630/ausbf.1794254.
JAMA
1.İsmiç B. Guns, Growth, and Stability: Macroeconomic Impacts of Defense Spending in the Western Balkans and Their Relevance for Türkiye. SBF Dergisi. 2026;81:389–407.
MLA
İsmiç, Betül. “Guns, Growth, and Stability: Macroeconomic Impacts of Defense Spending in the Western Balkans and Their Relevance for Türkiye”. Ankara Üniversitesi SBF Dergisi, vol. 81, no. 2, June 2026, pp. 389-07, doi:10.33630/ausbf.1794254.
Vancouver
1.Betül İsmiç. Guns, Growth, and Stability: Macroeconomic Impacts of Defense Spending in the Western Balkans and Their Relevance for Türkiye. SBF Dergisi. 2026 Jun. 1;81(2):389-407. doi:10.33630/ausbf.1794254