The United Kingdom and Brexit: Implications, Consequences and Opportunities
Journal Title: Global Economics Rview - Year 2018, Vol 3, Issue 0
Abstract
Presently, Brexit and its implications for the United Kingdom (UK), European Union and rest of the world, are regarded as major concerns across the globe. The present study is an attempt to estimate the shock that the UKs economy will likely receive as a consequence of Brexit. It also seeks to find an answer to the question whether costs incurred as a consequence of Brexit are repairable or otherwise for the UK. By applying a vector autoregressive (VAR) model on annual time series data of four important economic variables, i.e. gross domestic product (GDP), imports, exports and foreign direct investment, ranging from 1970-2016, an interdependence relation was found to hold among variables. The result concludes that through Brexit, the UKs economy will face some fluctuations which wont last any longer than 12 to 15 years. In return, it will grant UK sovereignty in the different vital segments of the country like economic policies and political decisions.
Authors and Affiliations
Ilhamah Qiamy, Fahim Nawaz, Syed Umair Jalal
Keywords
Related Articles
- EP ID EP668981
- DOI -
- Views 229
- Downloads 0
The Economy of Projects: Analyzing Project Management Resilience, Stress Management and Project Sustainability
The due economy of projects is a catchword nowadays in the world. Advancement in project sustainability has reshaped the banking across the globe forcing companies to perform tasks and activities in the form of projects;...
China's Belt and Road Initiative (BRI): Debt Quagmire or a Ridge Rope for Struggling Economies
China is an emerging superpower expanding its influence all over the world. But Chinas rise is a peaceful one and will be beneficial for the countries that are being involved in the process of development through the BRI...
European Union and Liberalism
Complex interdependence is the crucial concept of liberalism. If Liberalism believes in democracy, cooperation, mutual benefits, and human rights, then complex interdependence helps the states to achieve these ideals. Mo...
China, Pakistan Extended Relation: An Overview of CPEC Opportunities, Expectations and Fear of Balochistan
Since the beginning of diplomatic ties in 1951, China-Pakistan has enjoyed long-lasting, stable and friendly relations and considered to be an irreplaceable “all-weather friend” as well. In any hard and troubled time, bo...
A Statistical Investigation of Business Cycles Characteristics in Pakistan
This study investigates the business cycle characteristics for Pakistan using three sets of variables namely expenditure components of GDP, nominal variables and real variables. The findings reveal that the volatility of...