Brexit Related Uncertainty for United Kingdom Economy
Journal Title: Acta Scientiarum Polonorum. Oeconomia - Year 2016, Vol 15, Issue 4
Abstract
The aim of research is to present economic and financial uncertainty related to Britain's exit from the European Union (EU). Paper discusses and analyses the pre-referendum characteristics of Brexit, the problem of growing uncertainty and its impact on British financial markets and the economy of the United Kingdom (UK), and possible scenarios of future UK-EU relationship. Post-referendum Economic Policy Uncertainty Index (EPU) levels indicate growing uncertainty in British economy. The most evident pro-Brexit voting effect was a substantial depreciation of British pound (GBP). Economic forecasts indicate negative impact of Britain's withdrawing from the EU on gross domestic product (GDP) growth rate in 2016-2020. The most likely scenario for post-Brexit UK-EU relationship is going to be a "hard Brexit".
Authors and Affiliations
Michał Wielechowski, Katarzyna Czech
Keywords
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