An empirical study of the immediate effect of the brexit referendum on greenfield foreign direct investment in the uk

Daniel Bembennek () and Michael Frenkel ()
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Daniel Bembennek: WHU - Otto Beisheim School of Management
Michael Frenkel: WHU - Otto Beisheim School of Management

Economics Bulletin, 2024, vol. 44, issue 1, 57 - 63

Abstract: We investigate the impact of the Brexit referendum on greenfield foreign direct investment (GFDI) inflows to the UK in the years before an agreement with the EU was reached. The study is motivated by the question of whether the signal of the policy change was already strong enough to influence long-term investment decisions. We find robust evidence of a negative impact on greenfield investment inflows to the UK from 2016 to 2019.

Keywords: Brexit; FDI; Greenfield; Investment; Referendum; PPML; RTA; EU; EEA; EFTA; UK; Public Policy; Gravity Model; Trade (search for similar items in EconPapers)
JEL-codes: F2 F5 (search for similar items in EconPapers)
Date: 2024-03-30
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