Brexit spillovers through international trade and foreign investment: Empirical evidence from EU-27 and the UK
This study examines the Brexit spillovers upon the European Union Member States (MS) (EU-27) and the UK through two fundamental freedoms of regional integration: goods and services (international trade), and capital (foreign investment, FDI). We have applied cluster analysis and structural equation...
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| Format: | Article |
| Language: | English |
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Economists' Association of Vojvodina
2021-01-01
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| Series: | Panoeconomicus |
| Subjects: | |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/1452-595X/2021/1452-595X2000008N.pdf |
| _version_ | 1818332590389592064 |
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| author | Noja Graţiela G. Cristea Mirela S. Yüksel Atila |
| author_facet | Noja Graţiela G. Cristea Mirela S. Yüksel Atila |
| author_sort | Noja Graţiela G. |
| collection | DOAJ |
| description | This study examines the Brexit spillovers upon the European Union Member States (MS) (EU-27) and the UK through two fundamental freedoms of regional integration: goods and services (international trade), and capital (foreign investment, FDI). We have applied cluster analysis and structural equation modelling on a strongly balanced panel of EU-27 and the UK. Both techniques explore two scenarios that focus on the performances achieved by the EU-MS in terms of GDP per capita and GDP growth, under the impact of trade and FDI, before and after the Brexit (1995-2019 and 2020-2025 periods). Our results show that the UK’s economy will be affected both related to GDP growth and GDP per capita levels, particularly on the short-run. The EU-27 impact largely differs across countries and types of international activities, being decisively influenced through the FDI relations. Overall, the spillovers induced by international flows are positive, but significantly diminished after the Brexit. |
| first_indexed | 2024-12-13T13:38:10Z |
| format | Article |
| id | doaj.art-e1cee848f60a4ddaa795da11f6b59068 |
| institution | Directory Open Access Journal |
| issn | 1452-595X 2217-2386 |
| language | English |
| last_indexed | 2024-12-13T13:38:10Z |
| publishDate | 2021-01-01 |
| publisher | Economists' Association of Vojvodina |
| record_format | Article |
| series | Panoeconomicus |
| spelling | doaj.art-e1cee848f60a4ddaa795da11f6b590682022-12-21T23:43:41ZengEconomists' Association of VojvodinaPanoeconomicus1452-595X2217-23862021-01-0168565368010.2298/PAN171229008N1452-595X2000008NBrexit spillovers through international trade and foreign investment: Empirical evidence from EU-27 and the UKNoja Graţiela G.0Cristea Mirela S.1Yüksel Atila2West University of Timişoara, East European Center for Research in Economics and Business, Timişoara, RomaniaUniversity of Craiova, Center for Banking and Financial Research, Craiova, RomaniaAdnan Menderes University, Kusadasi Aydin, TurkeyThis study examines the Brexit spillovers upon the European Union Member States (MS) (EU-27) and the UK through two fundamental freedoms of regional integration: goods and services (international trade), and capital (foreign investment, FDI). We have applied cluster analysis and structural equation modelling on a strongly balanced panel of EU-27 and the UK. Both techniques explore two scenarios that focus on the performances achieved by the EU-MS in terms of GDP per capita and GDP growth, under the impact of trade and FDI, before and after the Brexit (1995-2019 and 2020-2025 periods). Our results show that the UK’s economy will be affected both related to GDP growth and GDP per capita levels, particularly on the short-run. The EU-27 impact largely differs across countries and types of international activities, being decisively influenced through the FDI relations. Overall, the spillovers induced by international flows are positive, but significantly diminished after the Brexit.http://www.doiserbia.nb.rs/img/doi/1452-595X/2021/1452-595X2000008N.pdfbrexittradeforeign direct investmenteconometric procedureseuropean union |
| spellingShingle | Noja Graţiela G. Cristea Mirela S. Yüksel Atila Brexit spillovers through international trade and foreign investment: Empirical evidence from EU-27 and the UK Panoeconomicus brexit trade foreign direct investment econometric procedures european union |
| title | Brexit spillovers through international trade and foreign investment: Empirical evidence from EU-27 and the UK |
| title_full | Brexit spillovers through international trade and foreign investment: Empirical evidence from EU-27 and the UK |
| title_fullStr | Brexit spillovers through international trade and foreign investment: Empirical evidence from EU-27 and the UK |
| title_full_unstemmed | Brexit spillovers through international trade and foreign investment: Empirical evidence from EU-27 and the UK |
| title_short | Brexit spillovers through international trade and foreign investment: Empirical evidence from EU-27 and the UK |
| title_sort | brexit spillovers through international trade and foreign investment empirical evidence from eu 27 and the uk |
| topic | brexit trade foreign direct investment econometric procedures european union |
| url | http://www.doiserbia.nb.rs/img/doi/1452-595X/2021/1452-595X2000008N.pdf |
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