THE IMPACT OF THE CHANGE IN EXPORT TARIFFS DUE TO BREXIT ON THE BRITISH ECONOMY


Oktayer A. , Kandemir S. A.

Innovation and Global Issues V, Ankara, Türkiye, 2 - 04 Mayıs 2019, ss.140-151

  • Basıldığı Şehir: Ankara
  • Basıldığı Ülke: Türkiye
  • Sayfa Sayıları: ss.140-151

Özet

After the Brexit negotiations between the United Kingdom and the European Union are

completed, the United Kingdom has various trade options to choose, with the European Union.

In this study, we consider three most possible trade options one of which is Norway option, the

other one is Swiss option and the final one is World Trade Organization option. Considering

these three trade options, we use the computable general equilibrium model to predict the

effects of increasing tariff rates on the United Kingdom’s gross domestic product and its

components. Our results suggest that among these options, Norway option offers the least

negative impact or the best economic outcome while World Trade Organization option offers

the most negative impact or the worst economic outcome.