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Military Expenditures and Economic Growth in Middle East and North African Countries

Abstract
The Middle East and North Africa (MENA), an economically diverse region, is characterized by countries with a common heritage, which are at various stages of economic development, and home to extremely different natural resources. Majority of the countries in the region have experienced military or civil conflicts. These were conflicts that resulted in extreme human suffering, economic displacement, and the nations of the region had wasted several opportunities of development. Thus, a significant share of national budgets are utilized for military spending. Military expenditures create both costs and benefits for the economy.
In this study, the relationship between military expenditures and economic growth in MENA Countires using panel econometric models for 1990-2017 period. In this study a negative and highly significant effect of infrastructure on economic growth is exist. The coefficient is -0.068 which means a one point increase military expenditure leads to approximately 0.06 point decrease in economic growth.

Keywords: Military Expenditures, MENA, Economic Growth, Panel Data Analysis, Dynamic Panel Data

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