Short-Term Impact of Brexit on the United Kingdom's Export of Goods

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...

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Bibliographic Details
Main Authors: Kee, Hiau Looi, Nicita, Alessandro
Format: Working Paper
Language:English
en_US
Published: World Bank, Washington, DC 2017
Subjects:
EXPORTS
BREXIT
OVERALL TRADE RESTRICTIVENESS INDEX
MOST FAVORED NATION
NONTARIFF MEASURES
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
id okr-10986-28373
recordtype oai_dc
spelling okr-10986-283732021-06-14T10:08:35Z Short-Term Impact of Brexit on the United Kingdom's Export of Goods Kee, Hiau Looi Nicita, Alessandro EXPORTS BREXIT OVERALL TRADE RESTRICTIVENESS INDEX MOST FAVORED NATION NONTARIFF MEASURES 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. 2017-09-21T20:47:41Z 2017-09-21T20:47:41Z 2017-09 Working Paper 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 English en_US Policy Research Working Paper;No. 8195 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper United Kingdom
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic EXPORTS
BREXIT
OVERALL TRADE RESTRICTIVENESS INDEX
MOST FAVORED NATION
NONTARIFF MEASURES
spellingShingle EXPORTS
BREXIT
OVERALL TRADE RESTRICTIVENESS INDEX
MOST FAVORED NATION
NONTARIFF MEASURES
Kee, Hiau Looi
Nicita, Alessandro
Short-Term Impact of Brexit on the United Kingdom's Export of Goods
geographic_facet United Kingdom
relation Policy Research Working Paper;No. 8195
description 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.
format Working Paper
author Kee, Hiau Looi
Nicita, Alessandro
author_facet Kee, Hiau Looi
Nicita, Alessandro
author_sort Kee, Hiau Looi
title Short-Term Impact of Brexit on the United Kingdom's Export of Goods
title_short Short-Term Impact of Brexit on the United Kingdom's Export of Goods
title_full Short-Term Impact of Brexit on the United Kingdom's Export of Goods
title_fullStr Short-Term Impact of Brexit on the United Kingdom's Export of Goods
title_full_unstemmed Short-Term Impact of Brexit on the United Kingdom's Export of Goods
title_sort short-term impact of brexit on the united kingdom's export of goods
publisher World Bank, Washington, DC
publishDate 2017
url 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
_version_ 1764466738052726784

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