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Terrorist Attacks and The Effect of Defense Expenditure on Growth: Analysis of Turkey

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  • Kubilay Çağrı Yılmaz

    (Celal Bayar University)

Abstract

The shares allocated by the states to defense expenditures from their budgets have a significant weight in the budget. Within the scope of this study, the effects of terrorist attacks and defense expenditures, which must be prevented in Turkey, on growth have been examined and thus, the economic damage of terrorism through the budget channel has been revealed. According to the boundary test analysis, while increases in terrorist attacks affect growth negatively in the short run, they are ineffective in the long run. Positive shocks (increases) in defense expenditures have negative impact on growth both in the short and long term.

Suggested Citation

  • Kubilay Çağrı Yılmaz, 2022. "Terrorist Attacks and The Effect of Defense Expenditure on Growth: Analysis of Turkey," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 37(117), pages 115-134, April.
  • Handle: RePEc:acc:malfin:v:37:y:2022:i:117:p:115-134
    DOI: https://doi.org/10.33203/mfy.1049937
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    More about this item

    Keywords

    Defence Expenditure; Bütçe; Growth; Terror;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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