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The international financial implications of Brexit

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  • Barry Eichengreen

    () (University of California, Berkeley)

Abstract

Abstract This paper analyzes the international monetary and financial implications of the UK's potential exit from the European Union, focusing on the impact on cross-border capital flows, on London's status as an international financial center, on the roles of sterling and the euro as international and reserve currencies, and on the roles of the UK and EU in the institutions of global governance (the International Monetary Fund, World Bank, Group of Seven, Group of Twenty, and Financial Stability Board. All such conclusions are necessarily speculative at this stage, but the implications are potentially farreaching.

Suggested Citation

  • Barry Eichengreen, 2019. "The international financial implications of Brexit," International Economics and Economic Policy, Springer, vol. 16(1), pages 37-50, March.
  • Handle: RePEc:kap:iecepo:v:16:y:2019:i:1:d:10.1007_s10368-018-0422-x
    DOI: 10.1007/s10368-018-0422-x
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    References listed on IDEAS

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    1. Kalemli-Ozcan, Sebnem & Papaioannou, Elias & Peydró, José-Luis, 2010. "What lies beneath the euro's effect on financial integration? Currency risk, legal harmonization, or trade?," Journal of International Economics, Elsevier, vol. 81(1), pages 75-88, May.
    2. Eichengreen, Barry & Livia, Chitu & Mehl, Arnaud, 2014. "Stability or upheaval? The currency composition of international reserves in the long run," Globalization Institute Working Papers 201, Federal Reserve Bank of Dallas.
    3. Bas Straathof & Gert Jan Linders & Arjan Lejour & Jan Möhlmann, 2008. "The internal market and the Dutch economy: implications for trade and economic growth," CPB Document 168, CPB Netherlands Bureau for Economic Policy Analysis.
    4. Sampson, Thomas, 2017. "Brexit: The Economics of International Disintegration," CEPR Discussion Papers 12301, C.E.P.R. Discussion Papers.
    5. Thomas Sampson, 2017. "Brexit: The Economics of International Disintegration," CESifo Working Paper Series 6668, CESifo Group Munich.
    6. Gehrig, Thomas, 1998. "Cities and the Geography of Financial Centres," CEPR Discussion Papers 1894, C.E.P.R. Discussion Papers.
    7. Thomas Sampson, 2017. "Brexit: The Economics of International Disintegration," CEP Discussion Papers dp1499, Centre for Economic Performance, LSE.
    8. Barry J. Eichengreen & Donald J Mathieson, 2000. "The Currency Composition of Foreign Exchange Reserves; Retrospect and Prospect," IMF Working Papers 00/131, International Monetary Fund.
    9. repec:gam:jijfss:v:6:y:2018:i:2:p:46-:d:143042 is not listed on IDEAS
    10. André Sapir & Dirk Schoenmaker & Nicolas Véron, 2017. "Making the best of Brexit for the EU27 financial system," Policy Briefs 18927, Bruegel.
    11. repec:aea:jecper:v:31:y:2017:i:4:p:163-84 is not listed on IDEAS
    12. Sampson, Thomas, 2017. "Brexit: the economics of international disintegration," LSE Research Online Documents on Economics 86591, London School of Economics and Political Science, LSE Library.
    13. Lorenzo Bini Smaghi, 2004. "A Single EU Seat in the IMF?," Journal of Common Market Studies, Wiley Blackwell, vol. 42(2), pages 229-248, June.
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