The main purpose of this paper is to empirically investigate the impacts of defence expenditure on external debt by the use of data related to 1971-2012 period of Turkish economy. The empirical results, that are obtained through bound test procedure and ARDL approach, indicate that defence expenditures of Turkey create positive effects on its external debt both in short and long run.
机构:
Getulio Vargas Fdn, Sao Paulo Sch Econ, Sao Paulo, Brazil
Conselho Nacl Desenvolvimento Cient & Tecnol, Sao Paulo, BrazilGetulio Vargas Fdn, Sao Paulo Sch Econ, Sao Paulo, Brazil
机构:
Univ Utara Malaysia, Sch Econ Finance & Banking, Coll Business, Sintok, MalaysiaUniv Utara Malaysia, Sch Econ Finance & Banking, Coll Business, Sintok, Malaysia
Azam, Muhammad
Feng, Yi
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机构:
Claremont Grad Univ, Sch Social Sci Policy & Evaluat, Div Polit & Econ, Claremont, CA 91711 USAUniv Utara Malaysia, Sch Econ Finance & Banking, Coll Business, Sintok, Malaysia