Purpose – The objective of this study is to examine the relationship between defense expenditure and economic growth for Turkey and Greece in the period of 1956-2003 using yearly data. Design/methodology/approach – The Engle-Granger cointegration methodology and Granger causality test are...

Purpose – The objective of this study is to examine the relationship between defense expenditure and economic growth for Turkey and Greece in the period of 1956‐2003 using yearly data. Design/methodology/approach – The Engle‐Granger cointegration methodology and Granger causality test...

This paper uses the panel data of energy consumption (EC) and economic growth (GDP) for 51 countries from 1971 to 2005. These countries are divided into three groups: low income group, lower middle income group and upper middle income group countries. Firstly, a relationship between energy...

This paper investigates the validity of purchasing power parity (PPP) for 25 OECD countries by using a panel unit-root methodology. The procedure used here is to examine stationarity of real exchange rate. Using ADF unit-root test on single time-series, it is found that real exchange rate of all...