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Making sense of the costs and benefits of Brexit: challenges for economists

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  • Begg, Iain

Abstract

The UK’s decision to leave the European Union will have a wide-ranging effect on the British economy, but the scale and sequencing of the likely effects are hard to gauge. The uncertainties surrounding how a country separates itself from a regional economic bloc have posed challenges to the economics profession about how best to analyse the many consequences. The paper discusses the main lines of relevant economic argumentation, and reviews the evidence from studies of the likely effects of “Brexit”. It then considers how the UK’s economic linkages with the EU might evolve and examines some of the ensuing political economy challenges. The concluding section ponders the role of economists in so contentious a political development.

Suggested Citation

  • Begg, Iain, 2017. "Making sense of the costs and benefits of Brexit: challenges for economists," LSE Research Online Documents on Economics 83587, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:83587
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    File URL: https://researchonline.lse.ac.uk/id/eprint/83587/
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    References listed on IDEAS

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    1. Begg, Iain, 2016. "The EU budget and UK contribution," LSE Research Online Documents on Economics 67030, London School of Economics and Political Science, LSE Library.
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    Cited by:

    1. Campos, Nauro F., 2019. "B for Brexit: A Survey of the Economics Academic Literature," IZA Discussion Papers 12134, IZA Network @ LISER.
    2. Andrei HREBENCIUC, 2017. "The costs of Brexit for UK economy," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(611), S), pages 319-327, Summer.
    3. Begg Iain, 2019. "No Longer “The Economy Stupid”: How Muddled Economics Contributed to a Chaotic Brexit," The Economists' Voice, De Gruyter, vol. 16(1), pages 1-14, December.
    4. Petros E. Ioannatos, 2021. "Brexit or Euro for the UK? Evidence from Panel Data," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 63(1), pages 117-138, March.
    5. Portuese, Aurelien, . "Towards a Meta Cost-benefit Analysis: The Case of Brexit," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 19(01).
    6. Latorre, María C. & Olekseyuk, Zoryana & Yonezawa, Hidemichi & Robinson, Sherman, 2020. "Making sense of Brexit losses: An in-depth review of macroeconomic studies," Economic Modelling, Elsevier, vol. 89(C), pages 72-87.
    7. Andrikopoulos, Athanasios & Dassiou, Xeni & Zheng, Min, 2020. "Exchange-rate exposure and Brexit: The case of FTSE, DAX and IBEX," International Review of Financial Analysis, Elsevier, vol. 68(C).

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    JEL classification:

    • N0 - Economic History - - General

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