Investigating the relation between Military Expenditures and Economic Growth: Panel Data Approach in Selected Countries

In this study the relation between military expenditures and economic growth has been investigated. Considering conflicting results of other studies on this issue, we have tried to use different parameters and models. In direction with this issue, military expenditures is represented by share of military expenditures of GDP and government expenditures and  economic growth is represented by GDP and GDP per capita growth rate. The analysis is settled for the years 2000 to 2015 and selected countries. Results show that increasing military expenditures increases economic growth.