MILITARIZATION, ECONOMIC GROWTH AND PETROLEUM CONSUMPTION IN BRAZIL, RUSSIAN, INDIA, CHINA, TURKEY, SOUTH AFRICA AND MEXICO

BİLDİRİCİ M. E.

ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, cilt.51, sa.2, ss.249-266, 2017 (SCI-Expanded) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 51 Sayı: 2
  • Basım Tarihi: 2017
  • Dergi Adı: ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH
  • Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Social Sciences Citation Index (SSCI), Scopus
  • Sayfa Sayıları: ss.249-266
  • Anahtar Kelimeler: Petroleum Consumption, Defence Industry, Militarization, Economic Growth, ARDL, Variance Decomposition, Granger Causality, ENVIRONMENTAL IMPACTS, DESTRUCTION, TREADMILL, WORLD
  • Yıldız Teknik Üniversitesi Adresli: Evet

Özet

This paper aimed to test the dynamic relationship between economic growth, petroleum consumption and militarization in Brazil, Russian, India, China, Turkey, South Africa and Mexico for the period 1987-2013. It was used to the bounds test approach and it was determined whether there was a short and a long-run relationship among militarization, petroleum consumption and economic growth. ARDL test found that militarization and petroleum consumption has a positive and a statistically significant impact on economic growth. Further, it was applied the Granger causality and determined the evidence of hi-directional causal relation between variables. Lastly, the forecast-error variance approach corrected the obtained results