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Brexit Had No Measurable Effect on Irish Exporters

Author

Listed:
  • Elsner, Benjamin

    (University College Dublin)

  • Flaherty, Eoin T.

    (University College Dublin)

  • Haller, Stefanie

    (University College Dublin)

Abstract

We study the impact of the Brexit referendum on Irish exporters to the UK. The referendum triggered a sharp devaluation of the British pound vis-a-vis the euro and led to considerable uncertainty about future trade relations between the UK and the EU. Using administrative data on the universe of Irish exporters, we compare exporters with different levels of exposure to the UK market before the referendum. Our findings do not point to a significant effect of the referendum on Irish exporters. Over the period 2015-2021, the firms least exposed to the UK - but most internationalised otherwise - had considerably higher exit rates from exporting to the UK and from the market overall. They also saw greater declines in employment and sales compared to more exposed firms. We do not find significant differences for export volumes to the UK or elsewhere or for average wages. These findings are robust to controlling for a variety of firm characteristics.

Suggested Citation

  • Elsner, Benjamin & Flaherty, Eoin T. & Haller, Stefanie, 2024. "Brexit Had No Measurable Effect on Irish Exporters," IZA Discussion Papers 17229, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp17229
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    File URL: https://docs.iza.org/dp17229.pdf
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    More about this item

    Keywords

    Brexit; firm performance; trade; wages; employment;
    All these keywords.

    JEL classification:

    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General

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