Business as usual?: Unraveling the impact of Brexit on UK‐EU business links

Zovanga Kone; Feicheng Wang; Zheng Wang; Zhuo Zhou

doi:10.1111/coep.12662

Business as usual? Unraveling the impact of Brexit on UK‐EU business links

Zovanga Kone
, Feicheng Wang
, Zheng Wang (Lead / Corresponding author)
, Zhuo Zhou

Business Office

Research output: Contribution to journal › Article › peer-review

1 Citation (Scopus)

164 Downloads (Pure)

Abstract

We present the first systematic evidence on the impact of Brexit on the business links between the United Kingdom (UK) and the European Union (EU) through the lens of international visits. We find important asymmetry in the direction of changes in business visits between the two regions following the referendum. Specifically, we observe a significant drop in EU-to-UK trips, while UK-to-EU trips increased noticeably after the vote. These results support the claim that Brexit has made the UK less attractive to EU businesses, but also reveal that UK businesses are investing more in their relationships with EU partners to offset the uncertainty.

Original language	English
Pages (from-to)	623-641
Number of pages	19
Journal	Contemporary Economic Policy
Volume	42
Issue number	4
Early online date	30 Jul 2024
DOIs	https://doi.org/10.1111/coep.12662
Publication status	Published - Oct 2024

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 16 Peace, Justice and Strong Institutions
SDG 17 Partnerships for the Goals

Keywords

Brexit
business travel
international visits
uncertainty

ASJC Scopus subject areas

Economics, Econometrics and Finance(all)

Access to Document

10.1111/coep.12662Licence: CC BY

Final Published Version Final published version, 2.05 MBLicence: CC BY

Cite this

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title = "Business as usual?: Unraveling the impact of Brexit on UK‐EU business links",

abstract = "We present the first systematic evidence on the impact of Brexit on the business links between the United Kingdom (UK) and the European Union (EU) through the lens of international visits. We find important asymmetry in the direction of changes in business visits between the two regions following the referendum. Specifically, we observe a significant drop in EU-to-UK trips, while UK-to-EU trips increased noticeably after the vote. These results support the claim that Brexit has made the UK less attractive to EU businesses, but also reveal that UK businesses are investing more in their relationships with EU partners to offset the uncertainty. ",

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author = "Zovanga Kone and Feicheng Wang and Zheng Wang and Zhuo Zhou",

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PY - 2024/10

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AB - We present the first systematic evidence on the impact of Brexit on the business links between the United Kingdom (UK) and the European Union (EU) through the lens of international visits. We find important asymmetry in the direction of changes in business visits between the two regions following the referendum. Specifically, we observe a significant drop in EU-to-UK trips, while UK-to-EU trips increased noticeably after the vote. These results support the claim that Brexit has made the UK less attractive to EU businesses, but also reveal that UK businesses are investing more in their relationships with EU partners to offset the uncertainty.

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KW - business travel

KW - international visits

KW - uncertainty

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JF - Contemporary Economic Policy

IS - 4

ER -

Business as usual? Unraveling the impact of Brexit on UK‐EU business links

Abstract

UN SDGs

Keywords

ASJC Scopus subject areas

Access to Document

Other files and links

Fingerprint

British Academy Small Research Grant

UK-EU Business Links measured by international visits

Cite this

Business as usual? Unraveling the impact of Brexit on UK‐EU business links

Abstract

UN SDGs

Keywords

ASJC Scopus subject areas

Access to Document

Other files and links

Fingerprint

Activities

British Academy Small Research Grant

Datasets

UK-EU Business Links measured by international visits

Cite this