BREXIT: IS POLITICAL SOVEREIGNTY WORTH THE ECONOMIC LOSSES?

Аннотация:

This article examines the economic consequences of the UK’s decision to leave the European Union in 2016, after over 4 decades of integration. Although the UK remains highly ranked in terms of HDI and GDP indices, Brexit has caused significant economic and political challenges. This article makes firm-level microanalysis, comparisons of the UK with similar developed countries before and after Brexit using reliable macroeconomic data provided by NBER. While the UK gained a political sovereignty and control, the article argues that Brexit’s economic costs outweigh these benefits. Additionally, this study highlights how British citizens’ opinions about Brexit changed over the years and how this decision will shape the UK’s economic trajectory in the upcoming years.