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BREXIT and Bangladesh: An Exploratory Study on Likely Economic Implications

Author

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  • Mustafizur Rahman
  • Towfiqul Islam Khan

Abstract

UK’s EU-referendum held on 23 June 2016, and the verdict of the British electorate to leave the EU (popularly known as Brexit), have important implications not only for the UK, but also for its major trading and economic partners, both within and outside of the EU region. This paper aims to capture the possible short- and mediumterm implications of Brexit for the economy of Bangladesh. The paper makes an attempt to anticipate the terms of Brexit, and what these could mean for Bangladesh’s bilateral economic relationship with the UK in a diverse range of areas. With the help of a gravity model exercise, the paper tries to capture the likely fallouts of Brexit on exports of Bangladesh to the UK. The paper argues that Bangladesh’s exports, remittances, FDI and aid could be significantly affected by Brexit. The paper comes up with a number of recommendations to address the likely challenges facing the Bangladesh economy arising out of Brexit.

Suggested Citation

  • Mustafizur Rahman & Towfiqul Islam Khan, 2018. "BREXIT and Bangladesh: An Exploratory Study on Likely Economic Implications," CPD Working Paper 121, Centre for Policy Dialogue (CPD).
    • Handle: RePEc:pdb:opaper:121
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    References listed on IDEAS

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    1. Dhingra, Swati & Ottaviano, Gianmarco I. P. & Sampson, Thomas & Reenen, John Van, 2016. "The consequences of Brexit for UK trade and living standards," LSE Research Online Documents on Economics 66144, London School of Economics and Political Science, LSE Library.
    2. 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.
    3. Rabeya Khatoon & Mohammad Mahbubur Rahman, 2009. "Assessing the Existence of the J?Cure Effect in Bangladesh," Bangladesh Development Studies, Bangladesh Institute of Development Studies (BIDS), vol. 32(2), pages 79-100.
    4. World Bank, 2017. "World Development Indicators 2017," World Bank Publications - Books, The World Bank Group, number 26447, April.
    5. Jean-Marc Fournier & Aurore Domps & Yaëlle Gorin & Xavier Guillet & Délia Morchoisne, 2015. "Implicit Regulatory Barriers in the EU Single Market: New Empirical Evidence from Gravity Models," OECD Economics Department Working Papers 1181, OECD Publishing.
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