Araştırma Makalesi
BibTex RIS Kaynak Göster

Yıl 2025, Sayı: 40, 178 - 196, 25.10.2025
https://doi.org/10.15182/diclesosbed.1655613

Öz

Kaynakça

  • Abbas, S., & Wizarat, S. (2018). Military Expenditure and External Debt in South Asia: A Panel Data Analysis. Peace Economics, Peace Science and Public Policy, 24(3). https://doi.org/10.1515/peps-2017-0045
  • Alesina, A., & Weder, B. (1999). Do Corrupt Governments Receive Less Foreign Aid? https://doi.org/10.3386/w7108
  • Asongu, S. A., Le Roux, S., & Singh, P. (2021). Fighting terrorism in Africa: Complementarity between inclusive development, military expenditure and political stability. Journal of Policy Modeling, 43(5), 897–922. https://doi.org/10.1016/j.jpolmod.2020.01.014
  • Bai, J., & Ng, S. (2004). A Panic Attack on Unit Roots and Cointegration. Econometrica, 72(4), 1127–1177. https://doi.org/10.1111/j.1468-0262.2004.00528.x
  • Balan, F. (2015). The Nexus between Political Instability, Defence Spending and Economic Growth in the Middle East Countries: Bootstrap Panel Granger Causality Analysis. In Economic Insights-Trends and Challenges: Vol. IV (Issue 4).
  • Benoit, E. (1973). Defense and economic growth in developing countries. Lexington Books. https://cir.nii.ac.jp/crid/1130000798278374144.bib?lang=ja
  • Buzdagli, Ö., & Ozdemir, D. (2021). Jeopolitik Risk Endeksinin Askeri Harcamalar Üzerindeki Etkisi. Süleyman Demirel Üniversitesi Vizyoner Dergisi, 12(29), 188–203. https://doi.org/10.21076/vizyoner.761633
  • Caldara, D., & Iacoviello, M. (2022). Measuring Geopolitical Risk. American Economic Review, 112(4), 1194–1225. https://doi.org/10.1257/aer.20191823
  • Capra James R. (1981). The National Defense Budget and Its Economic Effects. Federal Reserve Bank of New York Quarter, 6, 21–31.
  • Demirci, O., & Ayyildiz, F. V. (2023). The Relationship of Geopolitical Risks and Defense Expenditures with Economic Growth: The Example of MIST Countries. Fiscaoeconomia, 7(3), 1929–1947. https://doi.org/10.25295/fsecon.1277050
  • Dudzeviciute, G., Peleckis, K., & Peleckiene, V. (2016). Tendencies and Relations of Defense Spending and Economic Growth in the EU Countries. Engineering Economics, 27(3). https://doi.org/10.5755/j01.ee.27.3.15395
  • Efe, E., & Aydin, Ü. (2023). The Effect of Macroeconomic Variables and Geopolitical Risk Index on Defence Expenditures. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi, 24(3), 692–707. https://doi.org/10.17494/ogusbd.1317847
  • Esener, S. Ç., & İpek, E. (2016). Expanding Effects Of Military Expenditures On External Debt In Developing Countries. Journal of Business Economics and Finance, 4(4).
  • Gül, E., & Torusdağ, M. (2019). Analysis of the Effects of Defense Expenditures on Income Distribution and Economic Development with Panel Asymmetric Causality Test: Brics Countries and Turkey Case. International Journal of Contemporary Economics and Administrative Sciences, 9(1), 1–24. https://doi.org/10.5281/zenodo.3262188
  • Hadri, K. (2000). Testing for stationarity in heterogeneous panel data. The Econometrics Journal, 3(2), 148–161. https://doi.org/10.1111/1368-423X.00043
  • Hausman, J. A. (1978). Specification Tests in Econometrics. Econometrica, 46(6), 1251. https://doi.org/10.2307/1913827
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115(1), 53–74. https://doi.org/10.1016/S0304-4076(03)00092-7
  • Khan, K., Su, C.-W., & Rizvi, S. K. A. (2022). Guns and Blood: A Review of Geopolitical Risk and Defence Expenditures. Defence and Peace Economics, 33(1), 42–58. https://doi.org/10.1080/10242694.2020.1802836
  • Levin, A., Lin, C.-F., & James Chu, C.-S. (2002). Unit root tests in panel data: asymptotic and finite-sample properties. Journal of Econometrics, 108(1), 1–24. https://doi.org/10.1016/S0304-4076(01)00098-7
  • Maher, M., & Zhao, Y. (2022). Do Political Instability and Military Expenditure Undermine Economic Growth in Egypt? Evidence from the ARDL Approach. Defence and Peace Economics, 33(8), 956–979. https://doi.org/10.1080/10242694.2021.1943625
  • Moon, H. R., & Perron, B. (2004). Testing for a unit root in panels with dynamic factors. Journal of Econometrics, 122(1), 81–126. https://doi.org/10.1016/j.jeconom.2003.10.020
  • Murat, Ö. (2020). Türkiye ve BRICS Ülkelerinde Savunma Harcamalarının Dış Ticaret Dengesine Etkisi. https://acikbilim.yok.gov.tr/handle/20.500.12812/95463
  • Njamen Kengdo, A. A., Nchofoung, T. N., & Kos A Mougnol, A. (2023). Determinants of Military Spending in Africa: Do Institutions Matter? Peace Economics, Peace Science and Public Policy, 29(4), 401–440. https://doi.org/10.1515/peps-2023-0014
  • Odehnal, J., & Neubauer, J. (2020). Economic, Security, and Political Determinants of Military Spending in NATO Countries. Defence and Peace Economics, 31(5), 517–531. https://doi.org/10.1080/10242694.2018.1544440
  • Pesaran, M. H. (2004). General Diagnostic Tests for Cross Section Dependence in Panels. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.572504
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of Applied Econometrics, 22(2), 265–312. https://doi.org/10.1002/jae.951
  • Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289–326. https://doi.org/10.1002/jae.616
  • Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled Mean Group Estimation of Dynamic Heterogeneous Panels. Journal of the American Statistical Association, 94(446), 621–634. https://doi.org/10.1080/01621459.1999.10474156
  • PRS Group. (2022). The International Country Risk Guide (ICRG) Methodology. https://www.prsgroup.com/wp-content/uploads/2022/04/ICRG-Method.pdf
  • Senturk Suat H. (2020). The Relation of External Debt and Military Expenditures: An Econometric Study on Selected Middle East Countries. www.maliyearastirmalari.com
  • Surucu, L., Eminer, F., & Sagbas, M. (2022). The Relationship of Defense Expenditures and Economic Growth Examples of Turkey and China (2000-2020). Güvenlik Stratejileri Dergisi, 18(41), 171–199. https://doi.org/10.17752/guvenlikstrtj.1026084
  • Topal, M., Unver, M., & Türedi, S. (2022). The military expenditures and economic growth nexus: Panel bootstrap granger causality evidence from NATO countries. Panoeconomicus, 69(4), 555–578. https://doi.org/10.2298/PAN170914002T
  • World Bank. (2023). World Development Indicators | DataBank. World Bank. https://databank.worldbank.org/source/world-development-indicators.
  • Xu, Y., Su, C. W., & Tao, R. (2020). Is Defense Spending Inflationary? Time–frequency Evidence from China. Defence and Peace Economics, 31(3), 361–375. https://doi.org/10.1080/10242694.2018.1457197
  • Zhong, M., Chang, T., Goswami, S., Gupta, R., & Lou, T.-W. (2017). The nexus between military expenditures and economic growth in the BRICS and the US: an empirical note. Defence and Peace Economics, 28(5), 609–620. https://doi.org/10.1080/10242694.2016.1144897

Yıl 2025, Sayı: 40, 178 - 196, 25.10.2025
https://doi.org/10.15182/diclesosbed.1655613

Öz

Kaynakça

  • Abbas, S., & Wizarat, S. (2018). Military Expenditure and External Debt in South Asia: A Panel Data Analysis. Peace Economics, Peace Science and Public Policy, 24(3). https://doi.org/10.1515/peps-2017-0045
  • Alesina, A., & Weder, B. (1999). Do Corrupt Governments Receive Less Foreign Aid? https://doi.org/10.3386/w7108
  • Asongu, S. A., Le Roux, S., & Singh, P. (2021). Fighting terrorism in Africa: Complementarity between inclusive development, military expenditure and political stability. Journal of Policy Modeling, 43(5), 897–922. https://doi.org/10.1016/j.jpolmod.2020.01.014
  • Bai, J., & Ng, S. (2004). A Panic Attack on Unit Roots and Cointegration. Econometrica, 72(4), 1127–1177. https://doi.org/10.1111/j.1468-0262.2004.00528.x
  • Balan, F. (2015). The Nexus between Political Instability, Defence Spending and Economic Growth in the Middle East Countries: Bootstrap Panel Granger Causality Analysis. In Economic Insights-Trends and Challenges: Vol. IV (Issue 4).
  • Benoit, E. (1973). Defense and economic growth in developing countries. Lexington Books. https://cir.nii.ac.jp/crid/1130000798278374144.bib?lang=ja
  • Buzdagli, Ö., & Ozdemir, D. (2021). Jeopolitik Risk Endeksinin Askeri Harcamalar Üzerindeki Etkisi. Süleyman Demirel Üniversitesi Vizyoner Dergisi, 12(29), 188–203. https://doi.org/10.21076/vizyoner.761633
  • Caldara, D., & Iacoviello, M. (2022). Measuring Geopolitical Risk. American Economic Review, 112(4), 1194–1225. https://doi.org/10.1257/aer.20191823
  • Capra James R. (1981). The National Defense Budget and Its Economic Effects. Federal Reserve Bank of New York Quarter, 6, 21–31.
  • Demirci, O., & Ayyildiz, F. V. (2023). The Relationship of Geopolitical Risks and Defense Expenditures with Economic Growth: The Example of MIST Countries. Fiscaoeconomia, 7(3), 1929–1947. https://doi.org/10.25295/fsecon.1277050
  • Dudzeviciute, G., Peleckis, K., & Peleckiene, V. (2016). Tendencies and Relations of Defense Spending and Economic Growth in the EU Countries. Engineering Economics, 27(3). https://doi.org/10.5755/j01.ee.27.3.15395
  • Efe, E., & Aydin, Ü. (2023). The Effect of Macroeconomic Variables and Geopolitical Risk Index on Defence Expenditures. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi, 24(3), 692–707. https://doi.org/10.17494/ogusbd.1317847
  • Esener, S. Ç., & İpek, E. (2016). Expanding Effects Of Military Expenditures On External Debt In Developing Countries. Journal of Business Economics and Finance, 4(4).
  • Gül, E., & Torusdağ, M. (2019). Analysis of the Effects of Defense Expenditures on Income Distribution and Economic Development with Panel Asymmetric Causality Test: Brics Countries and Turkey Case. International Journal of Contemporary Economics and Administrative Sciences, 9(1), 1–24. https://doi.org/10.5281/zenodo.3262188
  • Hadri, K. (2000). Testing for stationarity in heterogeneous panel data. The Econometrics Journal, 3(2), 148–161. https://doi.org/10.1111/1368-423X.00043
  • Hausman, J. A. (1978). Specification Tests in Econometrics. Econometrica, 46(6), 1251. https://doi.org/10.2307/1913827
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115(1), 53–74. https://doi.org/10.1016/S0304-4076(03)00092-7
  • Khan, K., Su, C.-W., & Rizvi, S. K. A. (2022). Guns and Blood: A Review of Geopolitical Risk and Defence Expenditures. Defence and Peace Economics, 33(1), 42–58. https://doi.org/10.1080/10242694.2020.1802836
  • Levin, A., Lin, C.-F., & James Chu, C.-S. (2002). Unit root tests in panel data: asymptotic and finite-sample properties. Journal of Econometrics, 108(1), 1–24. https://doi.org/10.1016/S0304-4076(01)00098-7
  • Maher, M., & Zhao, Y. (2022). Do Political Instability and Military Expenditure Undermine Economic Growth in Egypt? Evidence from the ARDL Approach. Defence and Peace Economics, 33(8), 956–979. https://doi.org/10.1080/10242694.2021.1943625
  • Moon, H. R., & Perron, B. (2004). Testing for a unit root in panels with dynamic factors. Journal of Econometrics, 122(1), 81–126. https://doi.org/10.1016/j.jeconom.2003.10.020
  • Murat, Ö. (2020). Türkiye ve BRICS Ülkelerinde Savunma Harcamalarının Dış Ticaret Dengesine Etkisi. https://acikbilim.yok.gov.tr/handle/20.500.12812/95463
  • Njamen Kengdo, A. A., Nchofoung, T. N., & Kos A Mougnol, A. (2023). Determinants of Military Spending in Africa: Do Institutions Matter? Peace Economics, Peace Science and Public Policy, 29(4), 401–440. https://doi.org/10.1515/peps-2023-0014
  • Odehnal, J., & Neubauer, J. (2020). Economic, Security, and Political Determinants of Military Spending in NATO Countries. Defence and Peace Economics, 31(5), 517–531. https://doi.org/10.1080/10242694.2018.1544440
  • Pesaran, M. H. (2004). General Diagnostic Tests for Cross Section Dependence in Panels. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.572504
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of Applied Econometrics, 22(2), 265–312. https://doi.org/10.1002/jae.951
  • Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289–326. https://doi.org/10.1002/jae.616
  • Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled Mean Group Estimation of Dynamic Heterogeneous Panels. Journal of the American Statistical Association, 94(446), 621–634. https://doi.org/10.1080/01621459.1999.10474156
  • PRS Group. (2022). The International Country Risk Guide (ICRG) Methodology. https://www.prsgroup.com/wp-content/uploads/2022/04/ICRG-Method.pdf
  • Senturk Suat H. (2020). The Relation of External Debt and Military Expenditures: An Econometric Study on Selected Middle East Countries. www.maliyearastirmalari.com
  • Surucu, L., Eminer, F., & Sagbas, M. (2022). The Relationship of Defense Expenditures and Economic Growth Examples of Turkey and China (2000-2020). Güvenlik Stratejileri Dergisi, 18(41), 171–199. https://doi.org/10.17752/guvenlikstrtj.1026084
  • Topal, M., Unver, M., & Türedi, S. (2022). The military expenditures and economic growth nexus: Panel bootstrap granger causality evidence from NATO countries. Panoeconomicus, 69(4), 555–578. https://doi.org/10.2298/PAN170914002T
  • World Bank. (2023). World Development Indicators | DataBank. World Bank. https://databank.worldbank.org/source/world-development-indicators.
  • Xu, Y., Su, C. W., & Tao, R. (2020). Is Defense Spending Inflationary? Time–frequency Evidence from China. Defence and Peace Economics, 31(3), 361–375. https://doi.org/10.1080/10242694.2018.1457197
  • Zhong, M., Chang, T., Goswami, S., Gupta, R., & Lou, T.-W. (2017). The nexus between military expenditures and economic growth in the BRICS and the US: an empirical note. Defence and Peace Economics, 28(5), 609–620. https://doi.org/10.1080/10242694.2016.1144897

Politik İstikrar, Jeopolitik Risk Endeksi Ve Makroekonomik Göstergelerin Askeri Harcamalara Etkisi

Yıl 2025, Sayı: 40, 178 - 196, 25.10.2025
https://doi.org/10.15182/diclesosbed.1655613

Öz

Askeri harcamalar, dünya genelinde konjonktüre bağlı olarak her dönemde var olan ve ülkelerin kamu harcamaları içerisinde önemli bir pay alan bir unsurdur. Bu çalışmada BRICS-T kapsamında askeri harcamaların enflasyon, dış ticaret dengesi, gayri safi yurtiçi hasıla, jeopolitik risk endeksi ve politik istikrar endeksi göstergelerinden etkilenip etkilenmediği araştırılmıştır. Seçilen göstergelerin askeri harcamalar üzerindeki etkisi Panel ARDL/PMG analizi ile incelenmiştir. Askeri harcamalar ile politik istikrar endeksi ve enflasyon arasında uzun dönemli negatif yönlü nedensellik ilişkisi, jeopolitik risk endeksi ve gayri safi yurtiçi hasıla arasında ise pozitif yönlü nedensellik ilişkisi bulunmuştur. Dış ticaret dengesi ile askeri harcamalar arasında anlamlı bir ilişki tespit edilememiştir.

Kaynakça

  • Abbas, S., & Wizarat, S. (2018). Military Expenditure and External Debt in South Asia: A Panel Data Analysis. Peace Economics, Peace Science and Public Policy, 24(3). https://doi.org/10.1515/peps-2017-0045
  • Alesina, A., & Weder, B. (1999). Do Corrupt Governments Receive Less Foreign Aid? https://doi.org/10.3386/w7108
  • Asongu, S. A., Le Roux, S., & Singh, P. (2021). Fighting terrorism in Africa: Complementarity between inclusive development, military expenditure and political stability. Journal of Policy Modeling, 43(5), 897–922. https://doi.org/10.1016/j.jpolmod.2020.01.014
  • Bai, J., & Ng, S. (2004). A Panic Attack on Unit Roots and Cointegration. Econometrica, 72(4), 1127–1177. https://doi.org/10.1111/j.1468-0262.2004.00528.x
  • Balan, F. (2015). The Nexus between Political Instability, Defence Spending and Economic Growth in the Middle East Countries: Bootstrap Panel Granger Causality Analysis. In Economic Insights-Trends and Challenges: Vol. IV (Issue 4).
  • Benoit, E. (1973). Defense and economic growth in developing countries. Lexington Books. https://cir.nii.ac.jp/crid/1130000798278374144.bib?lang=ja
  • Buzdagli, Ö., & Ozdemir, D. (2021). Jeopolitik Risk Endeksinin Askeri Harcamalar Üzerindeki Etkisi. Süleyman Demirel Üniversitesi Vizyoner Dergisi, 12(29), 188–203. https://doi.org/10.21076/vizyoner.761633
  • Caldara, D., & Iacoviello, M. (2022). Measuring Geopolitical Risk. American Economic Review, 112(4), 1194–1225. https://doi.org/10.1257/aer.20191823
  • Capra James R. (1981). The National Defense Budget and Its Economic Effects. Federal Reserve Bank of New York Quarter, 6, 21–31.
  • Demirci, O., & Ayyildiz, F. V. (2023). The Relationship of Geopolitical Risks and Defense Expenditures with Economic Growth: The Example of MIST Countries. Fiscaoeconomia, 7(3), 1929–1947. https://doi.org/10.25295/fsecon.1277050
  • Dudzeviciute, G., Peleckis, K., & Peleckiene, V. (2016). Tendencies and Relations of Defense Spending and Economic Growth in the EU Countries. Engineering Economics, 27(3). https://doi.org/10.5755/j01.ee.27.3.15395
  • Efe, E., & Aydin, Ü. (2023). The Effect of Macroeconomic Variables and Geopolitical Risk Index on Defence Expenditures. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi, 24(3), 692–707. https://doi.org/10.17494/ogusbd.1317847
  • Esener, S. Ç., & İpek, E. (2016). Expanding Effects Of Military Expenditures On External Debt In Developing Countries. Journal of Business Economics and Finance, 4(4).
  • Gül, E., & Torusdağ, M. (2019). Analysis of the Effects of Defense Expenditures on Income Distribution and Economic Development with Panel Asymmetric Causality Test: Brics Countries and Turkey Case. International Journal of Contemporary Economics and Administrative Sciences, 9(1), 1–24. https://doi.org/10.5281/zenodo.3262188
  • Hadri, K. (2000). Testing for stationarity in heterogeneous panel data. The Econometrics Journal, 3(2), 148–161. https://doi.org/10.1111/1368-423X.00043
  • Hausman, J. A. (1978). Specification Tests in Econometrics. Econometrica, 46(6), 1251. https://doi.org/10.2307/1913827
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115(1), 53–74. https://doi.org/10.1016/S0304-4076(03)00092-7
  • Khan, K., Su, C.-W., & Rizvi, S. K. A. (2022). Guns and Blood: A Review of Geopolitical Risk and Defence Expenditures. Defence and Peace Economics, 33(1), 42–58. https://doi.org/10.1080/10242694.2020.1802836
  • Levin, A., Lin, C.-F., & James Chu, C.-S. (2002). Unit root tests in panel data: asymptotic and finite-sample properties. Journal of Econometrics, 108(1), 1–24. https://doi.org/10.1016/S0304-4076(01)00098-7
  • Maher, M., & Zhao, Y. (2022). Do Political Instability and Military Expenditure Undermine Economic Growth in Egypt? Evidence from the ARDL Approach. Defence and Peace Economics, 33(8), 956–979. https://doi.org/10.1080/10242694.2021.1943625
  • Moon, H. R., & Perron, B. (2004). Testing for a unit root in panels with dynamic factors. Journal of Econometrics, 122(1), 81–126. https://doi.org/10.1016/j.jeconom.2003.10.020
  • Murat, Ö. (2020). Türkiye ve BRICS Ülkelerinde Savunma Harcamalarının Dış Ticaret Dengesine Etkisi. https://acikbilim.yok.gov.tr/handle/20.500.12812/95463
  • Njamen Kengdo, A. A., Nchofoung, T. N., & Kos A Mougnol, A. (2023). Determinants of Military Spending in Africa: Do Institutions Matter? Peace Economics, Peace Science and Public Policy, 29(4), 401–440. https://doi.org/10.1515/peps-2023-0014
  • Odehnal, J., & Neubauer, J. (2020). Economic, Security, and Political Determinants of Military Spending in NATO Countries. Defence and Peace Economics, 31(5), 517–531. https://doi.org/10.1080/10242694.2018.1544440
  • Pesaran, M. H. (2004). General Diagnostic Tests for Cross Section Dependence in Panels. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.572504
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of Applied Econometrics, 22(2), 265–312. https://doi.org/10.1002/jae.951
  • Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289–326. https://doi.org/10.1002/jae.616
  • Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled Mean Group Estimation of Dynamic Heterogeneous Panels. Journal of the American Statistical Association, 94(446), 621–634. https://doi.org/10.1080/01621459.1999.10474156
  • PRS Group. (2022). The International Country Risk Guide (ICRG) Methodology. https://www.prsgroup.com/wp-content/uploads/2022/04/ICRG-Method.pdf
  • Senturk Suat H. (2020). The Relation of External Debt and Military Expenditures: An Econometric Study on Selected Middle East Countries. www.maliyearastirmalari.com
  • Surucu, L., Eminer, F., & Sagbas, M. (2022). The Relationship of Defense Expenditures and Economic Growth Examples of Turkey and China (2000-2020). Güvenlik Stratejileri Dergisi, 18(41), 171–199. https://doi.org/10.17752/guvenlikstrtj.1026084
  • Topal, M., Unver, M., & Türedi, S. (2022). The military expenditures and economic growth nexus: Panel bootstrap granger causality evidence from NATO countries. Panoeconomicus, 69(4), 555–578. https://doi.org/10.2298/PAN170914002T
  • World Bank. (2023). World Development Indicators | DataBank. World Bank. https://databank.worldbank.org/source/world-development-indicators.
  • Xu, Y., Su, C. W., & Tao, R. (2020). Is Defense Spending Inflationary? Time–frequency Evidence from China. Defence and Peace Economics, 31(3), 361–375. https://doi.org/10.1080/10242694.2018.1457197
  • Zhong, M., Chang, T., Goswami, S., Gupta, R., & Lou, T.-W. (2017). The nexus between military expenditures and economic growth in the BRICS and the US: an empirical note. Defence and Peace Economics, 28(5), 609–620. https://doi.org/10.1080/10242694.2016.1144897

The Effect of Macroeconomic Indicators, Geopolitical Risk And Political Stability Index on Military Expenditures

Yıl 2025, Sayı: 40, 178 - 196, 25.10.2025
https://doi.org/10.15182/diclesosbed.1655613

Öz

Military expenditures are an element that exists in every period depending on the global dynamics and take a significant share of the public spending of countries. In this study, it was investigated whether military expenditures within the scope of BRICS-T were affected by inflation, balance of trade, gross domestic product, geopolitical risk index, and political stability index indicators. The impact of selected indicators on military expenditures was examined with panel ARDL/PMG analysis. A long-term negative causal relationship has been identified between military expenditures and both the political stability index and inflation, whereas a positive causal relationship has been found between military expenditures and both the geopolitical risk index and gross domestic product. No significant relationship was found between balance of trade and military expenditures.

Kaynakça

  • Abbas, S., & Wizarat, S. (2018). Military Expenditure and External Debt in South Asia: A Panel Data Analysis. Peace Economics, Peace Science and Public Policy, 24(3). https://doi.org/10.1515/peps-2017-0045
  • Alesina, A., & Weder, B. (1999). Do Corrupt Governments Receive Less Foreign Aid? https://doi.org/10.3386/w7108
  • Asongu, S. A., Le Roux, S., & Singh, P. (2021). Fighting terrorism in Africa: Complementarity between inclusive development, military expenditure and political stability. Journal of Policy Modeling, 43(5), 897–922. https://doi.org/10.1016/j.jpolmod.2020.01.014
  • Bai, J., & Ng, S. (2004). A Panic Attack on Unit Roots and Cointegration. Econometrica, 72(4), 1127–1177. https://doi.org/10.1111/j.1468-0262.2004.00528.x
  • Balan, F. (2015). The Nexus between Political Instability, Defence Spending and Economic Growth in the Middle East Countries: Bootstrap Panel Granger Causality Analysis. In Economic Insights-Trends and Challenges: Vol. IV (Issue 4).
  • Benoit, E. (1973). Defense and economic growth in developing countries. Lexington Books. https://cir.nii.ac.jp/crid/1130000798278374144.bib?lang=ja
  • Buzdagli, Ö., & Ozdemir, D. (2021). Jeopolitik Risk Endeksinin Askeri Harcamalar Üzerindeki Etkisi. Süleyman Demirel Üniversitesi Vizyoner Dergisi, 12(29), 188–203. https://doi.org/10.21076/vizyoner.761633
  • Caldara, D., & Iacoviello, M. (2022). Measuring Geopolitical Risk. American Economic Review, 112(4), 1194–1225. https://doi.org/10.1257/aer.20191823
  • Capra James R. (1981). The National Defense Budget and Its Economic Effects. Federal Reserve Bank of New York Quarter, 6, 21–31.
  • Demirci, O., & Ayyildiz, F. V. (2023). The Relationship of Geopolitical Risks and Defense Expenditures with Economic Growth: The Example of MIST Countries. Fiscaoeconomia, 7(3), 1929–1947. https://doi.org/10.25295/fsecon.1277050
  • Dudzeviciute, G., Peleckis, K., & Peleckiene, V. (2016). Tendencies and Relations of Defense Spending and Economic Growth in the EU Countries. Engineering Economics, 27(3). https://doi.org/10.5755/j01.ee.27.3.15395
  • Efe, E., & Aydin, Ü. (2023). The Effect of Macroeconomic Variables and Geopolitical Risk Index on Defence Expenditures. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi, 24(3), 692–707. https://doi.org/10.17494/ogusbd.1317847
  • Esener, S. Ç., & İpek, E. (2016). Expanding Effects Of Military Expenditures On External Debt In Developing Countries. Journal of Business Economics and Finance, 4(4).
  • Gül, E., & Torusdağ, M. (2019). Analysis of the Effects of Defense Expenditures on Income Distribution and Economic Development with Panel Asymmetric Causality Test: Brics Countries and Turkey Case. International Journal of Contemporary Economics and Administrative Sciences, 9(1), 1–24. https://doi.org/10.5281/zenodo.3262188
  • Hadri, K. (2000). Testing for stationarity in heterogeneous panel data. The Econometrics Journal, 3(2), 148–161. https://doi.org/10.1111/1368-423X.00043
  • Hausman, J. A. (1978). Specification Tests in Econometrics. Econometrica, 46(6), 1251. https://doi.org/10.2307/1913827
  • Im, K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115(1), 53–74. https://doi.org/10.1016/S0304-4076(03)00092-7
  • Khan, K., Su, C.-W., & Rizvi, S. K. A. (2022). Guns and Blood: A Review of Geopolitical Risk and Defence Expenditures. Defence and Peace Economics, 33(1), 42–58. https://doi.org/10.1080/10242694.2020.1802836
  • Levin, A., Lin, C.-F., & James Chu, C.-S. (2002). Unit root tests in panel data: asymptotic and finite-sample properties. Journal of Econometrics, 108(1), 1–24. https://doi.org/10.1016/S0304-4076(01)00098-7
  • Maher, M., & Zhao, Y. (2022). Do Political Instability and Military Expenditure Undermine Economic Growth in Egypt? Evidence from the ARDL Approach. Defence and Peace Economics, 33(8), 956–979. https://doi.org/10.1080/10242694.2021.1943625
  • Moon, H. R., & Perron, B. (2004). Testing for a unit root in panels with dynamic factors. Journal of Econometrics, 122(1), 81–126. https://doi.org/10.1016/j.jeconom.2003.10.020
  • Murat, Ö. (2020). Türkiye ve BRICS Ülkelerinde Savunma Harcamalarının Dış Ticaret Dengesine Etkisi. https://acikbilim.yok.gov.tr/handle/20.500.12812/95463
  • Njamen Kengdo, A. A., Nchofoung, T. N., & Kos A Mougnol, A. (2023). Determinants of Military Spending in Africa: Do Institutions Matter? Peace Economics, Peace Science and Public Policy, 29(4), 401–440. https://doi.org/10.1515/peps-2023-0014
  • Odehnal, J., & Neubauer, J. (2020). Economic, Security, and Political Determinants of Military Spending in NATO Countries. Defence and Peace Economics, 31(5), 517–531. https://doi.org/10.1080/10242694.2018.1544440
  • Pesaran, M. H. (2004). General Diagnostic Tests for Cross Section Dependence in Panels. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.572504
  • Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross‐section dependence. Journal of Applied Econometrics, 22(2), 265–312. https://doi.org/10.1002/jae.951
  • Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289–326. https://doi.org/10.1002/jae.616
  • Pesaran, M. H., Shin, Y., & Smith, R. P. (1999). Pooled Mean Group Estimation of Dynamic Heterogeneous Panels. Journal of the American Statistical Association, 94(446), 621–634. https://doi.org/10.1080/01621459.1999.10474156
  • PRS Group. (2022). The International Country Risk Guide (ICRG) Methodology. https://www.prsgroup.com/wp-content/uploads/2022/04/ICRG-Method.pdf
  • Senturk Suat H. (2020). The Relation of External Debt and Military Expenditures: An Econometric Study on Selected Middle East Countries. www.maliyearastirmalari.com
  • Surucu, L., Eminer, F., & Sagbas, M. (2022). The Relationship of Defense Expenditures and Economic Growth Examples of Turkey and China (2000-2020). Güvenlik Stratejileri Dergisi, 18(41), 171–199. https://doi.org/10.17752/guvenlikstrtj.1026084
  • Topal, M., Unver, M., & Türedi, S. (2022). The military expenditures and economic growth nexus: Panel bootstrap granger causality evidence from NATO countries. Panoeconomicus, 69(4), 555–578. https://doi.org/10.2298/PAN170914002T
  • World Bank. (2023). World Development Indicators | DataBank. World Bank. https://databank.worldbank.org/source/world-development-indicators.
  • Xu, Y., Su, C. W., & Tao, R. (2020). Is Defense Spending Inflationary? Time–frequency Evidence from China. Defence and Peace Economics, 31(3), 361–375. https://doi.org/10.1080/10242694.2018.1457197
  • Zhong, M., Chang, T., Goswami, S., Gupta, R., & Lou, T.-W. (2017). The nexus between military expenditures and economic growth in the BRICS and the US: an empirical note. Defence and Peace Economics, 28(5), 609–620. https://doi.org/10.1080/10242694.2016.1144897
Toplam 35 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Makro İktisat (Diğer)
Bölüm Araştırma Makaleleri
Yazarlar

Elif Efe 0000-0002-0281-6949

Üzeyir Aydın 0000-0003-2777-6450

Erken Görünüm Tarihi 25 Ekim 2025
Yayımlanma Tarihi 25 Ekim 2025
Gönderilme Tarihi 11 Mart 2025
Kabul Tarihi 10 Haziran 2025
Yayımlandığı Sayı Yıl 2025 Sayı: 40

Kaynak Göster

APA Efe, E., & Aydın, Ü. (2025). The Effect of Macroeconomic Indicators, Geopolitical Risk And Political Stability Index on Military Expenditures. Dicle Üniversitesi Sosyal Bilimler Enstitüsü Dergisi(40), 178-196. https://doi.org/10.15182/diclesosbed.1655613