Short-term impact of Brexit on the United Kingdom's export of goods

Hiau Looi Kee, Alessandro Nicita, Hiau Looi Kee and Alessandro Nicita
Authors registered in the RePEc Author Service: Hiau Looi Kee () and Alessandro Nicita

No 8195, Policy Research Working Paper Series from The World Bank

Abstract: 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.

Keywords: International Trade and Trade Rules; Rules of Origin; Trade and Multilateral Issues; Trade Policy; Transport and Trade Logistics (search for similar items in EconPapers)
Date: 2017-09-13
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Persistent link: https://EconPapers.repec.org/RePEc:wbk:wbrwps:8195

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