Is Geopolitical Risk a Reason or Excuse for Bigger Military Expenditures?
Yazarlar (2)
Doç. Dr. Asiye TÜTÜNCÜ Kastamonu Üniversitesi, Türkiye
Yaşar Bayraktar
Birmingham City Business School, Türkiye
Birmingham City Business School, Türkiye
| Makale Türü | Özgün Makale (ESCI dergilerinde yayınlanan tam makale) | ||
| Dergi Adı | Peace Economics Peace Science and Public Policy | ||
| Dergi ISSN | 1079-2457 Wos Dergi Scopus Dergi | ||
| Dergi Tarandığı Indeksler | Scopus | ||
| Makale Dili | Türkçe | Basım Tarihi | 10-2024 |
| Cilt / Sayı / Sayfa | 30 / 4 / 455–476 | DOI | 10.1515/peps-2024-0027 |
| Makale Linki | https://doi.org/10.1515/peps-2024-0027 | ||
| Özet |
| This study aims to investigate the relationship between military expenditures and geopolitical risk using the Panel Fourier Toda-Yamamoto Causality test over the 1993–2020 period. Considering structural changes, the findings reveal that geopolitical risk fluctuations in Colombia, India, South Korea, Russia, Saudi Arabia, Ukraine, and the USA affect military expenditures. Conversely, the results point out that for Chile, Israel, Russia, Taiwan, and the UK, military expenditures appear to cause geopolitical risk. This highlights that changes in military spending across nations trigger an arms race due to the perception of increased threat by neighbours and/or interest groups. In a nutshell, the results show a complex interplay between military expenditures and geopolitical risk, where changes in one can affect the other. Based upon this, policymakers must prioritize diplomacy, utilize international mediation/peacekeeping … |
| Anahtar Kelimeler |
| arms race | geopolitical risk | Keynesian theory | military expenditures | panel Fourier Toda-Yamamoto causality |
BM Sürdürülebilir Kalkınma Amaçları
| Atıf Sayıları | |
| Scopus | 4 |
| Google Scholar | 7 |