1. Concerns on the issue of defence expenditure in the post-crisis Greece
- Author:
- Odysseus Katsaitis, Konstantine Kondylis, and George Andrew Zombanakis
- Publication Date:
- 06-2019
- Content Type:
- Journal Article
- Journal:
- Security and Defence Quarterly
- Institution:
- War Studies University
- Abstract:
- The paper aims to tackle a controversial issue, namely the anticipated developments regarding defence expenditure once the Greek economy returns to growth. Such a comeback is expected to occur following a prolonged recessionary period during which defence spending cuts were a top priority, as recommended by the IMF, the ECB and the EC, members of the so-called “Troika”. The paper uses both conventional econometrics as well as neural networks to consider and evaluate the hierarchy’s ordering of the determinants used in such a demand for defence expenditure based on their explanatory power. While the role of property resources is certainly pronounced, as expected, human resources variables also seem to be able to explain defence spending developments, especially in the recent past. A forecasting investigation based on this background points to a number of interesting conclusions on the anticipated developments concerning defence spending in the future as well as on the determinants of such developments which might represent a threat to NATO cohesion.
- Topic:
- Security, Crisis Management, Economic Security, Arms Race, Defense Spending, and Military
- Political Geography:
- Europe and Greece