This book provides a comprehensive examination of the impact of defense expenditures on foreign trade in the countries bordering the Black Sea (Turkey, Russia, Ukraine, Romania, Georgia, Bulgaria, and Moldova). Using 24 years of data from 1999 to 2022, the analysis in the final chapter reveals important findings regarding how defense spending affects the trade volume of these nations. The research, conducted using the panel data analysis method, offers a theoretical and empirical framework for understanding the economic and trade implications of defense expenditures.

In the book, trade volume is used as a representative of foreign trade, and the effects of defense spending on the import and export performance of these countries are examined in detail. Additionally, key economic indicators such as per capita gross domestic product (GDP), foreign direct investment, and exchange rates are included in the analysis, with their impact on foreign trade evaluated.

The results of the study indicate that defense expenditures have a negative impact on foreign trade volume. This finding suggests that large allocations to defense budgets reduce trade activities, thereby negatively affecting the economy. Specifically, it was found that increasing defense expenditures shrink trade volume by decreasing imports and exports.

The book serves as a guide for policymakers seeking to better understand the relationship between defense spending and trade. It emphasizes that in periods of high defense spending, trade relations may contract, potentially having adverse effects on economic growth. Furthermore, it highlights the importance of considering both trade and economic outcomes when shaping national defense policies.

In conclusion, this book provides valuable analysis of the effects of defense spending on foreign trade, shedding light on how the defense policies of Black Sea countries impact trade and economic conditions. It offers important insights for researchers and policymakers interested in understanding the dynamics between defense and trade.