Author: Jurgen Brauer
Publisher/Publication: Defense and Peace Economics
Volume/Issue: 13 (2)
DOI/ISBN: 10.1080/10242690210969
Abstract: The author in this article executes a critical review of the literature on the economics of military affairs in Greece and Turkey, covering themes such as arms race models; models of the demand for military expenditure; models measuring the economic impact of military expenditure; and literature and issues related to indigenous arms production. Essentially the author considers the econometric analysis approach to the issue as saturated and of diminishing returns. He calls for more focus on theory development. Part of the econometric school of study of the post-1945 Greek-Turkish military expenditure and possible arms racing.