Feridun, Mete (2014) Foreign aid fungibility and military spending: the case of North Cyprus. Defence and Peace Economics, 25 (5). pp. 499-508. ISSN 1024-2694 (Print), 1476-8267 (Online) (doi:https://doi.org/10.1080/10242694.2013.763628)

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Abstract

The present article examines if the foreign aid to North Cyprus is fungible and if it is in a long-run equilibrium relationship with military spending using the Autoregressive Distributed Lag bounds testing procedure from 1977 to 2007. The results suggest that neither tax revenues nor public expenditures are in a long-run equilibrium relationship with foreign aid. However, strong evidence emerges that defence expenditures are in a long-run equilibrium relationship with foreign aid, and that the latter seem to cause the former.

Item Type:	Article
Uncontrolled Keywords:	fungibility, foreign aid, military spending, North Cyprus
Subjects:	H Social Sciences > H Social Sciences (General)
Faculty / School / Research Centre / Research Group:	Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) > Greenwich Political Economy Research Centre (GPERC) Faculty of Business > Department of International Business & Economics
Related URLs:	Publisher Publisher Organisation
Last Modified:	04 Aug 2021 16:32
URI:	http://gala.gre.ac.uk/id/eprint/9549

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