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GTAP Resource #5229

"Impact of TTIP: Taking Brexit into account (updated title: Trade and FDI-related impacts of Brexit) "
by Latorre, Maria, Zoryana Olekseyuk and Hidemichi Yonezawa

We offer a general equilibrium analysis of Brexit incorporating the state-of-the-art differences in productivity and firms’ selection within manufacturing sectors à la Melitz (2003) and multinationals in services. Trade, output and average productivity diminish across most sectors in the UK and the Rest of the European Union (REU), as well as GDP, welfare, wages and capital remuneration. However, the UK loses more due to the missing preferential access to the huge EU market. Emergence of barriers against multinationals explains approximately one third of the negative effect in both the UK and REU. Other regions remain nearly unaffected.

Resource Details (Export Citation) GTAP Keywords
Category: 2017 Conference Paper
Status: Published
By/In: Presented at the 20th Annual Conference on Global Economic Analysis, West Lafayette, IN, USA
Date: 2017
Created: Latorre, M. (4/10/2017)
Updated: Latorre, M. (6/10/2018)
Visits: 2,637
- Economic growth
- Foreign direct investment
- Multilateral trade negotiations
- Non-Tariff barriers
- Preferential trading arrangements
- Trade in services
- European Union

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