Total views : 61
Mapping the Potential Impact of Brexit on Indian Economy
Bold move of Britain to step out of the European Union came at a time when the global economy was actually in a bad shape and growth predictions for 2016 had been marked down. 'Brexit' resulted in weakness, fragility and uncertainty disturbing the markets. Even though Britain will remain a full member of EU for at least more than two years but exit negotiations with the European Commission has started soon. Question addressed in the present study is how these developments are likely to affect the Indian economy. In India, while Brexit is likely to cause slow growth, economic prospects remain relatively doubtful due to the affect of factors like strong monsoon, effect of pay hikes and higher public capex. India is strongly committed for factors like economic stability, while its basics were sound with "a very comfortable external position, a rock-solid commitment to fiscal discipline and declining inflation.
Brexit, European Union, FDI, Indian Economy, Trade, Uncertainty.
- Dhingra, S., Ottaviano, G., Sampson, T. & Van Reenen, J. (2016a). The consequences of Brexit for UK trade and living standards, Centre for Economic Performance (CEP), London School of Economics and Political Science (LSE)
- Dhingra, S., Ottaviano. G., Sampson, T. & Van Reenen, J. (2016b). The impact of Brexit on foreign investment in the UK, Centre for Economic Performance (CEP), London School of Economics and Political Science (LSE).
- Economists for Brexit (2016b) ‘The Treasury Report on Brexit: A Critique’(https://issuu.com/efbkl/docs/economists_ for_brexit_-_the_treasur).
- Egert, B., & Gal, P. (2016). The quantification of structural reforms: A new Framework, OECD Economics Department Working Papers, forthcoming.
- Fournier, J.-M. (2015). The Negative Effect of Regulatory Divergence on Foreign Direct Investment. OECD Economics Department Working Papers, No. 1268, OECD Publishing.
- Harari, D., & Thompson, G. (2013). The economic impact of EU membership on the UK. Commons library standard note, Commons Library.
- OECD (2016). OECD Economic Surveys: European Union 2016, OECD Publishing, Paris, forthcoming.
- OECD (2015). METRO version 1 model documentation, Trade and Agriculture Directorate, OECD.
- Dee, P., Francois, J., Manchin, M., Norberg, H., Kyvik Nordaas, H., & van Tongeren, F. (2011). The Impact of Trade Liberalisation on Jobs and Growth: Technical Note, Paris, OECD Trade Policy Working Papers, 107. http://dx.doi.org/10.1787/5kgj4jfj1nq2-en
- Petri, P., & Plummer, M. (2016). The Economic Effects of the Trans-Pacific Partnership: New Estimates, The Peterson Institute, working paper no. 16-2; Capital Economics (2016), The economic impact of ‘Brexit. February 2016.
- PwC (2016), Leaving the EU: Implications for the UK economy, PricewaterhouseCoopers (PwC) report commissioned by The Confederation of British Industry (CBI).
- There are currently no refbacks.