Relationship between oil price volatility and military expenditures in GCC countries

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dc.authorscopusid56625634400
dc.authorscopusid26653963900
dc.authorscopusid57091681300
dc.contributor.authorErdoğan, Serkan
dc.contributor.authorÇevik, Emrah İsmail
dc.contributor.authorGedikli, Ayfer
dc.date.accessioned2022-05-11T14:04:46Z
dc.date.available2022-05-11T14:04:46Z
dc.date.issued2020
dc.departmentFakülteler, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü
dc.description.abstractNatural resource-rich countries transfer more sources to military expenditures due to extreme security concerns. As public revenues have declined due to the decline in oil prices, military expenditures have been cut in many countries. Nevertheless, this is not valid for all countries. Even in some countries, despite the decrease in oil prices and volatility, military expenditures increase. The aim of this study is to investigate the relationship between volatility in oil prices and military expenditures in GCC countries (United Arab Emirates, Bahrain, Qatar, Kuwait, Saudi Arabia, and Oman). The analysis period was determined differently for each country depending on the availability of data. UAE and Qatar were excluded from the analysis as the defense expenditures data of these countries could not be provided regularly. ARDL model was preferred for the research. According to the bound test results, there is a cointegration relationship between the variables in all countries. Besides, the long-term results showed that the volatility in oil prices in all countries, except for Bahrain, positively affects military expenditures. The error correction model indicated that there is a reverse relationship between oil price volatility and military expenditures. These findings indicated that despite the volatility in oil prices, military expenditures in GCC countries are not reduced. © 2020, Springer-Verlag GmbH Germany, part of Springer Nature.
dc.identifier.doi10.1007/s11356-020-08215-3
dc.identifier.endpage17084
dc.identifier.issn0944-1344
dc.identifier.issue14en_US
dc.identifier.pmid32146662
dc.identifier.scopus2-s2.0-85081687524
dc.identifier.scopusqualityQ1
dc.identifier.startpage17072
dc.identifier.urihttps://doi.org/10.1007/s11356-020-08215-3
dc.identifier.urihttps://hdl.handle.net/20.500.11776/4766
dc.identifier.volume27
dc.identifier.wosWOS:000534219700095
dc.identifier.wosqualityQ2
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.indekslendigikaynakPubMed
dc.institutionauthorÇevik, Emrah İsmail
dc.language.isoen
dc.publisherSpringer
dc.relation.ispartofEnvironmental Science and Pollution Research
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.subjectARDL model
dc.subjectE32
dc.subjectE62
dc.subjectGCC countries
dc.subjectH56
dc.subjectMilitary expenditures
dc.subjectOil price volatility
dc.subjecterror correction
dc.subjectexpenditure
dc.subjectnatural resource
dc.subjectprice determination
dc.subjectprice dynamics
dc.subjectMiddle East
dc.subjectBahrain
dc.subjecthealth care cost
dc.subjecthuman
dc.subjectKuwait
dc.subjectmilitary personnel
dc.subjectOman
dc.subjectQatar
dc.subjectSaudi Arabia
dc.subjectUnited Arab Emirates
dc.subjectvolatilization
dc.subjectBahrain
dc.subjectHealth Expenditures
dc.subjectHumans
dc.subjectKuwait
dc.subjectMilitary Personnel
dc.subjectOman
dc.subjectQatar
dc.subjectSaudi Arabia
dc.subjectUnited Arab Emirates
dc.subjectVolatilization
dc.titleRelationship between oil price volatility and military expenditures in GCC countries
dc.typeArticle

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