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1. Defence expenditure and public debt in Greece: A non-linear relationship

Author:
Ioanna Bardakas, Dimitris Doulos, and George Andrew Zombanakis
Publication Date:
03-2023
Content Type:
Journal Article
Journal:
Security and Defence Quarterly
Institution:
War Studies University
Abstract:
The aim of this paper is to consider and evaluate the widely–used argument attributing the growth of the public debt of Greece in recent decades to the country’s defence expenditure. We employ a two-equation model that focuses on the determinants of the military debt and how this has affected the public debt. The source of our military debt data is the Hellenic General Accounting Office, an option taken to cope with confidentiality issues. Finally, we insist on focusing on the expenditure on defence equipment imports rather than the total defence spending that the literature mostly covers, for reasons extensively analysed. Our methodology firstly assumes a linear relationship between military debt and public debt. We solve the system using 3SLS to obtain consistent and efficient estimates to derive interesting policy implications. The employment of a non-linear quadratic form not previously adopted proves to be superior in terms of performance and reveals the complexity of the above relationship. These point to the conclusion that the defence equipment purchases made since the beginning of the eighties have not had a decisive impact on the public debt of Greece. The defence equipment purchases made since the beginning of the eighties represent a very low percentage of the total public debt of Greece. Moreover, these are considered to be an investment activity rather than consumer spending, which has been acknowledged in the literature as the primary cause of Greece’s high indebtedness and the ensuing economic crisis.
Topic:
Security, Public Debt, Public Spending, Economic Security, Defense Spending, and Military
Political Geography:
Europe and Greece

2. The Hellenic air – space violations by Turkish aircraft: A statistical assessment and a forecast

Author:
Vasileios Symeonidis and George Andrew Zombanakis
Publication Date:
12-2020
Content Type:
Journal Article
Journal:
Security and Defence Quarterly
Institution:
War Studies University
Abstract:
This paper aims to assess the extent to which repeated attacks against sovereign Hellenic air space by Turkey along with the inevitably ensuing engagements between aircraft of the two sides follow a certain predetermined pattern of behaviour that can be detected based on a given statistical model, and if so, to what extent this pattern is predictable in terms of its intensity and the frequency of incidents. To this end, we use the Weibull statistical distribution as an appropriate tool for interpreting and quantifying the pattern of aggressive Turkish behaviour and calculating probabilities of occurrences. Based on this choice, we then proceed with a forecast of this behaviour in the near future. We provide specific mathematical formulae that can be readily used to calculate probabilities and forecast air space violations and engagements. Our models, based on historical data, assume that both Hellenic air space violations and engagement incidents will keep increasing but will inevitably reach a monthly maximum, constrained by the availability of property and human resources on the Turkish side. The conclusions drawn point to the fact that Turkey will at some point in the near future reach its capacity limits in terms of property and human resources used in such offensive exercises, and that there is very little that can be done to enhance the margins of such activities given the room provided by the Turkish economy, which seem to be prohibitive
Topic:
Security, Military Affairs, Airspace, and Military Exercises
Political Geography:
Turkey, Greece, and Mediterranean

3. 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