Short-Term Impact of Brexit on the United Kingdom's Export of Goods
The short-term impact of Brexit on goods exports is assessed using the Overall Trade Restrictiveness Index of the United Kingdom's major trading partners. The analysis shows that in the short run, leaving the European Union may cause the Unite...
| Main Authors: | , |
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/164821505330746382/Short-term-impact-of-Brexit-on-the-United-Kingdoms-export-of-goods http://hdl.handle.net/10986/28373 |
| Summary: | The short-term impact of Brexit on goods
exports is assessed using the Overall Trade Restrictiveness
Index of the United Kingdom's major trading partners.
The analysis shows that in the short run, leaving the
European Union may cause the United Kingdom's exports
to the European Union to decrease by 2 percent, and the
prospect of a major trade collapse post-Brexit is unlikely.
This is because the European Union's Most Favored
Nation (MFN) tariffs are higher on products that are less
responsive to tariffs, and lower on products that are more
responsive to tariffs. The study assumes that there are no
further compliance costs associated with the existing
nontariff measures facing firms in the United Kingdom,
should the United Kingdom leave the European Union. |
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