ECONOMIC IMPLICATIONS OF BREXIT: WINNERS AND LOSERS OF “EUROPEAN DIVORCE”
ECONOMIC IMPLICATIONS OF BREXIT: WINNERS AND LOSERS OF “EUROPEAN DIVORCE”

Summary/Abstract: Our paper focuses on the economic implications of the first and unprecedented “European divorce”, a situation when a European Union Member State has for the first time decided to leave the EU. The outcomes and the results of the so-called “Brexit” might be numerous and it might be difficult to assess them now, when the information is limited and the future scenarios are uncertain. However, it is already clear that Brexit is going to have a whole range of implications for the EU-Britain trade relations, labour markets, and international migration issues. We are discussing the possible economic outcomes of Brexit and highlight both the pros and cons for the British and EU economies. Our results show that although the UK is going to lose some of its economic advantages in trading with the EU, the economic advantages, for instance, on the financial markets might overweight the negative outcomes for the British economy.

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