| Description |
1 online resource (xxxv, 390 pages) |
| Contents |
Intro -- Preface -- Acknowledgements -- Contents -- Abbreviations -- List of Figures -- List of Tables -- Introduction -- Chapter 1: The Elusive Economic Consensus over Brexit -- Different Methodologies, Different Conclusions -- Historical and Counterfactual Analysis -- Macroeconomic Models -- CGE Simulations -- Reduced-Form Evidence Using Gravity Modelling -- Influential 'Consensus' Studies -- Choice of Models and Their Micro-Foundations Influences Results -- The Crucial Role of Assumptions in Economic Models -- Drivers of Brexit Impact -- Dissenting Studies |
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The Need for More Comprehensive Analysis -- References -- Chapter 2: The Fiscal Impact of Brexit -- Composition and Size of the EU Budget -- Financial Management and Fraud -- UK Contributions to the EU Budget -- The UK Rebate -- Gross Versus Net Contributions -- Misuse of Statistics -- The Uncertainty of Future Budgetary Developments -- References -- Chapter 3: Brexit and Trade -- The Economic Theory of Trade -- Theoretical Effects of Trade Integration -- Trends in Trade Development -- UK Trade Development -- Deficit -- The EU-A Declining Market for UK Trade -- European Trade Integration |
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Empirical Studies-Initial Impact of EU Membership -- Empirical Studies-Medium-Term Impact of EU Membership -- The Predicted Trade-Related Impact from Brexit -- Tariffs Under the 'WTO Option' -- Economic Models-Trade Predictions -- The Loss of Future Trade Benefits from EU Membership -- Conclusions -- References -- Chapter 4: Foreign Direct Investment (FDI) After Brexit -- Definition-What Is FDI? -- Theoretical Impact-Why Is FDI Important? -- Determinants of FDI -- FDI and the UK Economy -- Magnitude of FDI -- Origin of FDI -- Composition of FDI -- FDI and the UK Economy |
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The Potential Impact of Brexit upon FDI -- Limitations of Economic Estimates -- Attitude Surveys-International Investors -- Policy Response -- Case Study: Brexit and the Car Industry -- Conclusion -- References -- Chapter 5: Regulation -- Regulation-Benefit or Burden? -- What Proportion of UK Laws Derive from the EU? -- Can Brexit Deliver a Regulatory Benefit? -- Most UK Businesses Do Not Export into the SIM -- The Estimated Costs and Benefits of EU Regulations -- Are National Regulations More Beneficial to the UK Economy? -- Regulation After Brexit -- 'Singapore on Thames' |
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Modest but Significant Potential Regulatory Gain -- Regulatory Divergence or Level Playing Field -- Conclusion -- References -- Chapter 6: Migration -- Insights into Understanding Migration, Its Motivations and Impact -- What Is Migration, How Is It Analysed and Why This Matters -- Neo-classical Theory to Understand the Labour Market and Migration -- Extensions of Neo-classical Theories Make Predictions More Real -- The Importance of Migration-Creating Efficiency and a Wage Leveller? -- Explaining the (Mis)match Between Migration Model Predictions and Reality |
| Summary |
The Economics of Brexit - Revisited builds upon and extends the analysis contained within the authors' previous book, The Economics of Brexit: A Cost-Benefit Analysis of the UK's Economic Relationship with the EU, which arguably represented the most comprehensive and systematic evaluation of the UK's economic relationship with the EU. The Economics of Brexit - Revisited continues where the previous volume left off, given that the UK has now formally withdrawn from the EU, and therefore the focus of the evidence presented concerns the potential economic implications arising from Brexit and considering the options available to those negotiating the UK's future economic relationship both regionally and globally. The Economics of Brexit - Revisited seeks to provide greater clarity to a range of issues that have been hotly debated over the past few years, ranging from the trade and fiscal implications of Brexit, to the economic impact of regulation and migration. The significance of different Brexit options are discussed in detail, including the significance of demands for regulatory harmonisation (the 'level playing field'), along with their implications for UK trade with the EU and the rest of the world. A wide range of economic analyses are evaluated to determine their relative methodological strengths and weaknesses, and ultimately whether their conclusions are sufficiently robust to engender confidence. Finally, noting that a key determinant of the effectiveness of any post-Brexit economic strategy depends upon the degree of flexibility created for economic policy, the book provides an extended examination of the potential relating to different economic policy options available to the UK government, depending upon the form of final trade settlement that is agreed with the EU. These policy options include more active forms of macroeconomic management, combined with industrial and procurement policy. The Economics of Brexit - Revisited therefore seeks to combine evaluation of the available evidence indicating the economic impact of Brexit, together with consideration of policy trade-offs that lie at the heart of the choices surrounding Brexit, and how these might be resolved. The Economics of Brexit - Revisited therefore maintains its position as the most comprehensive analysis of the economics of Brexit in the market today |
| Bibliography |
Includes bibliographical references and indexes |
| Notes |
Online resource; title from digital title page (viewed on February 15, 2021) |
| Subject |
European Union -- Great Britain.
|
| SUBJECT |
European Union fast |
| Subject |
Economic forecasting -- Great Britain
|
|
Economic forecasting
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|
Economic history -- Forecasting
|
| SUBJECT |
Great Britain -- Economic conditions -- 21st century -- Forecasting
|
| Subject |
Great Britain
|
| Form |
Electronic book
|
| Author |
Petrescu, Alina Ileana, author.
|
| ISBN |
3030559483 |
|
9783030559489 |
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