期刊名称：South-Eastern Europe Journal of Economics (SEEJE)
印刷版ISSN：1109-8597
电子版ISSN：1792-3115
出版年度：2016
卷号：14
期号：2
页码：175-186
出版社：Association of Economic Universities of South and Eastern Europe and the Black Sea Region
摘要：This paper investigates the causal relationship between military expenditure,economicgrowth, and real capital stock in BRICS (Brazil, Russia, India, China, andSouth Africa) and MIST (Mexico, Indonesia, South Korea, and Turkey) countries.For this purpose, the period from 1990 to 2013 is examined using with the bootstrappanel Granger causality method. Results show that there is cross-sectionaldependencyand country-specific heterogeneity across BRICS and MIST countries. Itis also concluded that a positive unidirectional causality from military expenditureto economic growth exists in China. By contrast, there is negative unidirectionalcausality from military expenditures to economic growth in Turkey. In addition,the feedback hypothesis is confirmed for Russia and the neutrality hypothesisis supported by the data from Brazil, India, Indonesia, South Korea, Mexico andSouth Africa
关键词：Military expenditure; Economic Growth; Cross-Sectional Dependency;BRICS and MIST Countries
