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Development dynamics: Pre and Post Brexit analysis of United Kingdom

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Abstract

The main prospective of this research is to analysis the industrial development (IDV) nexus for a sample of Pre Brexit Polling and After Brexit Polling in the economy of United Kingdom. The prevalence of structural, political and institutional instabilities in the region under study makes it important to study from a policy perspective. The specific objective of the current study is to check the nature of relationship between capital account openness, trade openness, equity openness and IDV for Pre Brexit Polling and After Brexit Polling in United Kingdom. The current study utilized time series data set for Pre-Brexit analysis data from May 1, 2014 to June 23, 2016 and Post-Brexit analysis data from June 24, 2016 to May 1, 2018. Initially multiple regression methods was applied and in next step VAR, Impulse response function and Variance decomposition has been applied for describing shocks, quantifying shocks and explaining intra and inter dependencies respectively. Results showed that Financial openness policies and macroeconomic policies should be totally reformulated and redesigned as the previously followed policies does not contributed in IDV in Pre Brexit Polling and Post Brexit Polling in United Kingdom.

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Funding

Funding was provided by Schlumberger Foundation.

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Authors and Affiliations

  1. Department of Economics, University of York, York, UK

    Muhammad Jawad

  2. Department of Leadership and Management Studies, National Defence University, Islamabad, Pakistan

    Zaib Maroof

  3. Department of Mathematics, University of York, York, UK

    Munazza Naz

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  1. Muhammad Jawad
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  2. Zaib Maroof
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  3. Munazza Naz
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Correspondence to Muhammad Jawad.

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Jawad, M., Maroof, Z. & Naz, M. Development dynamics: Pre and Post Brexit analysis of United Kingdom. Qual Quant 53, 791–811 (2019). https://doi.org/10.1007/s11135-018-0789-3

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