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
Authors
Betül İsmiç
*
0009-0009-9945-6393
Türkiye
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