THE IMPACT OF SELECTED SOCIO ECONOMIC FACTORS ON DEFENSE EXPENDITURES IN SOUTHEASTERN EUROPEAN COUNTRIES
DOI: 10.5937/etp2402001S
Keywords:
Southeastern Europe, political stability, defense expenditures, education expenditures, revenues from taxes on goods and servicesAbstract
This research explores the influence of certain socio-
economic factors on defense expenditures in Southeastern European
countries. The research was conducted for the period from 2005 to
2021. The aim of the research is to examine the impact of political
stability, budgetary allocations for education, and revenues from taxes
on goods and services, as independent variables, on defense
expenditures as a dependent variable using the STATA software
package. By applying the chosen model, the extent to which variations
in defense expenditures can be explained by the independent variables
used in the model was determined. The conclusion of the research is
that the variables used in the model have a significant impact on
defense expenditures and provide insight into the complex interactions between social and economic factors and defense expenditures in
Southeastern European countries.
References
Alptekin, A. (2009). Military expenditure and economic growth literature: a meta-analysis, Discussion Papers in Economics, 2(9), 3- 39.
Avdiemtaj, K. (2019). Structure of public debt in the Western Balkan Countries, Academic Journal of Business, Administration, Law and Social Sciences, 5(2), 51-58.
Azam, M. & Feng Y. (2017). Does military expenditure increase external debt? Evidence from Asia, Defence and Peace Economics, 28(05), 550-567.
Bellos, S. (2017). The relationship between military expenditure and certain growth and development related variables in transition ecocnomies: A panel data naliysis, Economics and Finance, 4(5), 31- 44.
Caruso, R. (2014). Military spending and budget deficits: The impact of US military spending on public debt in Europe (1988- 2013), Applied Economics Letters, 23(4), 302–305.
Durucan, A. & Yeşil, E. (2022). The Impact of Defence Expenditures on Government Debt, Budget Deficit, and Current Account Deficit: Evidence from Developed and Developing Countries, Eskişehir Osmangazi Üniversitesi İİBF Dergisi, 17(3), 686-701.
Esner, S. & Ipek, E. (2015). Expanding Effects of Military Expenditures on External Debt in Developing Countries, Journal of Business, Economics & Finance, 4(4), 617-632.
Giray, F. & Taşdelen, S. (2023). The crowding –Out Relationship Between Defense Expenditures and Public Education Expenditures: NATO Countries Analysis, Turkish Studies - Economy, 18(1), 189-205.
Janačković, M. i Janačković T. (2019). Uticaj političkog rizika na strane direktne investicije, Ekonomski signali, 2019, 14(2), 15-30.
Kalaš, B., Mirović V. i Milenković N. (2021). Panel cointegration analysis of military expenditure and economic growth in the selected Balcan countries. Economic themes 59(3), 375-390.
Karateev, A. (2019). Stability and economic freedom in the countries of Central and Eastern Europe: Quantitative analysis, Eastern review, T-8, 149-159.
Pađen, M. i Ćutić, D. (2023). Contribution of defense industy of the national economy Ministry of defence of the Republic Croatia, Interdisciplinary management research, XVII, 321-343.
Petković, D. i Prole, Lj. (2021). The efficiency of public expenditure and economic growth in the countries of the west Balkans, Ekonomski signali, 16(1), 81-93.
Stanojević, N. (2020). Export potential of Serbia’s defense industry, Ekonomika preduzeća, LXVIII (7-8), 510-521.
Stiglitz Joseph E. (2004). Ekonomija javnog sektora, Beograd, Ekonomski fakultet.
Stojković, D. (2018). Osnovne determinante izdataka za odbranu Republike Srbije, XLV Simpozijum o operacionim istraživanjima, 331-336, Zlatibor, Ekonomski fakultet Beograd.
Stojković, D. i Glišić, M. (2018). Serbia’s military neutrality: Is it economically beneficial? Defence and Peace Economics, 31(5), 583- 599.
Syafril, K. & Saputro, G. (2023). Realation between defense budget, purchasing power party, foreign exchange, and external debt with military strength: Evidence from Asean countries, Journal Darma Agung, 31(3), 349-362.
Mladenović, Z., Petrović P. (2007). Uvod u ekonometriju, Beograd, Ekonomski fakultet.
Balkanski monitor odbrane (2024, februar 08), Preuzeto sa: https://balkandefencemonitor.com/
International monetary fund (2023, oktobar 28), Preuzeto sa: https://www.imf.org/ external/datamapper/GGXWDG_NGDP@WEO/OEMD /ADVEC/W EOWORLD/HRV/BIH/SRB.
SIPRI (2024, febrar 06), Preuzeto sa : SIPRI-Milex-data-1949- 2022.xlsx (live.com).
World Bank Group (2024, februar 08), Preuzeto sa: http://data.worldbank.org/country.
