Implications of Brexit

  • Brendan Vickers
Part of the Palgrave Handbooks in IPE book series (PHIPE)


On 29 March 2019, the UK will cease to be a member of the EU. After more than four decades in the EU, Brexit will have wide-ranging implications for the UK, the EU, and third countries around the world. Uncertainty about the future EU-UK economic partnership and brinkmanship in the Brexit negotiations has started to impact the UK’s economic performance, while its post-Brexit geopolitical role and influence have come under scrutiny. But there may also be opportunities for the UK to reposition and rebrand ‘Global Britain’ in the world, including within the Commonwealth, and pursue its own independent trade policy. This chapter examines some of the key International Political Economy (IPE) implications of Brexit for the UK, the EU, and the wider global economy, including the world’s poorest nations.


  1. Baldwin, Richard, Paul Collier, and Anthony Venables. 2017. Post-Brexit Trade and Development Policy. Policy Insight No 88, March. London: Centre for Economic Policy Research.Google Scholar
  2. Bandele, Olayinka, and Rashmi Banga. 2017. Brexit: Challenges and Opportunities for Jamaica and Other CARIFORUM Countries. Trade Competitiveness Briefing Paper 3. London: Commonwealth Secretariat.Google Scholar
  3. Carney, Mark. 2017. [De]Globalisation and Inflation. Speech given by the Governor of the Bank of England to the 2017 IMF Michel Camdessus Central Banking Lecture, September 18. At: Accessed 26 Mar 2018.
  4. Commonwealth Secretariat. 2016a. Brexit: Its Implications and Potential for the Commonwealth. Commonwealth Discussion Note. London: Commonwealth Secretariat.Google Scholar
  5. ———. 2016b. Brexit and Commonwealth trade. Commonwealth Trade Policy Briefing, November. London: Commonwealth Secretariat.Google Scholar
  6. ———. 2018. Strengthening the Commonwealth Advantage. Trade, Technology, Governance. London: Commonwealth Secretariat.Google Scholar
  7. Department for International Development (DFID). 2017. Economic Development Strategy: Prosperity, Poverty and Meeting Global Challenges. London: DFID.Google Scholar
  8. Department for International Trade (DIT). 2017. Preparing for our Future UK Trade Policy. London: UK Government.Google Scholar
  9. Dhingra, Swati, and Nikhil Datta. 2017. How Not to Do Trade Deals. London Review of Books 39 (18), September. At: Accessed 18 Mar 2018.
  10. Dhingra, Swati, Gianmarco Ottaviano, Thomas Sampson, and John Van Reenen. 2016. The Consequences of Brexit for UK Trade and Living Standards. London: Centre for Economic Performance.Google Scholar
  11. Ebell, Monique. 2016. Assessing the Impact of Trade Agreements on Trade. National Institute Economic Review 238: R31–R42.CrossRefGoogle Scholar
  12. Fraser, Simon. 2017. Global Britain. Bracing Ourselves for Brexit. The World Today, April and May. London: Royal Institute of International Affairs.Google Scholar
  13. Global News Matters Caribbean Research. 2016. Brexit Implications for the Caribbean – An Interview with Leading Caribbean Economist Marla Durkharan, June 30. At: Accessed 18 Mar 2018.
  14. Grey, Christopher. 2018. A Preview of the Geo-political Costs of Brexit. The Brexit Blog, March 16. At: Accessed 25 Apr 2018.
  15. Holmes, Peter, and Michael Gasiorek. 2017. Grandfathering Free Trade Agreements and Rules of Origin: What Might Appear Bilateral Is in Fact Trilateral! UK Trade Policy Observatory, September 27. At: Accessed 19 Feb 2018.
  16. Hove, Seedwell, and Jeremy Wakeford. 2016. Potential Implications of Brexit for African Economies. Opinion Paper 2016/02.Google Scholar
  17. Jones, Emily, and Conrad Copeland, eds. 2017. Making UK Trade Work for Development post-Brexit. Workshop report. At: Accessed 19 Feb 2018.
  18. Lewis, Grant, and Samuel Lowe. 2017. Can Global Britain Defy Gravity? At: Accessed 19 Feb 2018.
  19. McClean, Paul. 2017. After Brexit: The UK Will Need to Renegotiate at Least 759 Treaties. Financial Times, May 30. At: Accessed 30 Sept 2017.
  20. Mendez-Parra, M., and Dirk Willem te Velde. 2017. Aid, Exports and Employment in the UK. ODI Briefing Note, May. At: Accessed 18 Mar 2018.
  21. Mendez-Parra, Max, P. Papadavid, and Dirk Willem te Velde. 2016a. Brexit and Development: How Will Developing Countries Be Affected? Briefing Paper, July. London: ODI. At: Accessed 30 Sept 2017.
  22. Mendez-Parra, Max, Dirk Willem te Velde, and L. Alan Winters, eds. 2016b. The Impact of the UK’s post-Brexit Trade Policy on Development. An Essay Series. London: ODI.Google Scholar
  23. Mendez-Parra, Max, Dirk Willem te Velde and Jane Kennan. 2017. Post-Brexit Trade Policy and Development. Current Developments; New Directions? ODI Policy Briefing. London: ODI.Google Scholar
  24. Narlikar, Amrita. 2018. A Trade War on the Poor. How a Collapse of the WTO Would Hurt the Worst Off. Foreign Affairs, March 5. At: Accessed 26 Mar 2018.
  25. Open Britain. 2018. New Research – Trade Deals with Five Key Countries Could Take 26 Years to Negotiate, April 3. At: Accessed 4 Apr 2018.
  26. Organisation for Economic Cooperation and Development (OECD). 2017. OECD Economic Surveys: United Kingdom. Paris: OECD.Google Scholar
  27. Sapir, André, Dirk Schoenmaker, and Nicolas Véron. 2017. Making the Best of Brexit for the EU27 Financial System. Policy Brief 2017/01, Bruegel.Google Scholar
  28. Stevens, Christopher, and Jane Kennan. 2016. Trade Implications of Brexit for Commonwealth Developing Countries. Commonwealth Trade Hot Topic Issue 133, August. London: Commonwealth Secretariat.Google Scholar
  29. Traidcraft Exchange. 2017. How Should the UK Trade with Developing Countries After Brexit? Traidcraft in Depth Blog, February. London: Traidcraft Exchange. At: Accessed 22 Mar 2018.
  30. Vickers, Brendan. 2017. A Handbook on Regional Integration in Africa: Towards Agenda 2063. London: Commonwealth Secretariat.Google Scholar
  31. Vickers, Brendan, and Sangeeta Khorana, eds. 2018. Navigating Uncertainty. Towards a post-Brexit Trade and Development Agenda. Economic Paper 97. London: Commonwealth Secretariat.Google Scholar
  32. Whyman, Philip, and Alina Petrescu. 2017. The Economics of Brexit: A Cost-Benefit Analysis of the UK’s Economic Relationship with the EU. Cham: Palgrave Macmillan.CrossRefGoogle Scholar
  33. World Bank. 2016. Trade and Investment Implications of Brexit. Washington, DC: World Bank Group.CrossRefGoogle Scholar
  34. Z/Yen. 2018. The Global Financial Centres Index 23. London. At: Accessed 23 Apr 2018.

Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Brendan Vickers
    • 1
  1. 1.Commonwealth SecretariatLondonUK

Personalised recommendations