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Brexit, the City of London, and the prospects for portfolio investment

Author

Listed:
  • Barry Eichengreen

    (University of California)

  • William Jungerman

    (University of Minnesota)

  • Mingyang Liu

    (University of Southern California)

Abstract

This paper examines the international financial consequences of Brexit. It first provides a survey of the still limited literature on EU membership and international capital flows. It then provides new estimates of the impact of Brexit on cross-border investment utilizing data from the IMF’s Consolidated Portfolio Investment Survey. It lastly provides a comparative analysis of these same issues using data on crossborder capital flows from the BIS. The conclusion is that the impact on cross-border capital flows to and from the UK is likely to be substantial.

Suggested Citation

  • Barry Eichengreen & William Jungerman & Mingyang Liu, 2020. "Brexit, the City of London, and the prospects for portfolio investment," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 47(1), pages 1-16, February.
    • Handle: RePEc:kap:empiri:v:47:y:2020:i:1:d:10.1007_s10663-019-09447-4
    DOI: 10.1007/s10663-019-09447-4
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    References listed on IDEAS

    as
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