Brexit and its possible implications for the UK economy and its regions: A post-Keynesian perspective
| Autor: | Marta Spreafico, John McCombie |
|---|---|
| Rok vydání: | 2017 |
| Předmět: |
Macroeconomic forecasts
Majesty 05 social sciences Geography Planning and Development Perspective (graphical) 0211 other engineering and technologies 021107 urban & regional planning Balance-of-payments constrained growth model 02 engineering and technology Growth model Post-Keynesian economics Environmental Science (miscellaneous) Settore SECS-P/01 - ECONOMIA POLITICA North-South divide Treasury UK regions Brexit Economy 0502 economics and business Business Research Economics Settore SECS-P/02 - politica economica 050207 economics North–South divide |
| Zdroj: | Papers in Regional Science. 97:133-149 |
| ISSN: | 1056-8190 |
| DOI: | 10.1111/pirs.12338 |
| Popis: | This paper discusses the implications of Brexit for both the UK and its regions, as the latter depends on the former. We concentrate on the forecasts by Her Majesty's Treasury (HMT), the Cambridge Centre for Business Research and the Economists for Brexit. It is argued that the estimates of HMT of the loss of GDP are likely to be overstated, but, nevertheless, there will probably be a fall in output. Given this, the effect on the UK regions is analysed using the regional balance-of-payments constrained growth model. This suggests that Brexit will cause regional disparities to widen. |
| Databáze: | OpenAIRE |
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