Following Brexit, major changes are expected in the UK, the EU, and the relationship between the two, with far-reaching strategic effects on international politics that may develop truly unexpected aspects.Beyond the ...Following Brexit, major changes are expected in the UK, the EU, and the relationship between the two, with far-reaching strategic effects on international politics that may develop truly unexpected aspects.Beyond the near-term challenges, the UK is likely to face new developmental opportunities in the long run. The internal power balance in the EU will undergo major changes, possibly leading to progress in diplomacy and defense but with increased internal suspicions, leading to a series of new contradictions. Regardless of its success, Brexit will long trouble the EU. A troubled UK may come to resent the EU, but it is also possible that a well-developed UK will create a development model that is different from those of the EU member states, setting an example for other members considering revaluating their relationship to the EU. The resulting instability may even change it to a free trade area. The UK is an important country, with global influence. Changes in UK-EU relations will have profound geopolitical consequences, and we can expect great changes in UK-American, European-American, UK-Russian, and European-Russian relations and larger relations between East and West. The competition and cooperation among major countries will gain complexity. Due to its close relationships with the UK and the EU, China will also be extensively and profoundly affected.展开更多
After a long period of obsolescence,the Irish border issue has reemerged in the context of Brexit,and any solution will affect not only the UK’s national unity,but also the Northern Ireland peace process and UK-EU ec...After a long period of obsolescence,the Irish border issue has reemerged in the context of Brexit,and any solution will affect not only the UK’s national unity,but also the Northern Ireland peace process and UK-EU economic and trade relations.Back-and-forth negotiations brought about the Draft Withdrawal Agreement,which included the"backstop"arrangement for the Irish border.This agreement soon suffered strong opposition in the UK Parliament,while the EU refused to make any substantive concessions.Trapping Brexit into the"Britain-drag",the Irish border issue has become Brexit’s bottleneck.While the border issue carries sensitivity and complexity in itself,another even more important reason that is so significant is that it has become clear that the UK and the EU are not on the same track when it comes to interest defining and policy selection,never mind the tangled mentalities of Brexit.The Brexit dilemma,when combined with the Irish border issue,has cast a spotlight on the West’s political and social fragmentation,as well as the dysfunction of its parliamentary democracy.No matter how the withdrawal deal is settled in the future,the UK and the EU are likely to be persecuted by the Irish border issue for a long time to come.展开更多
AFTER one referendum,two general elections,changes of prime ministers,and several rounds of negotiations,the United Kingdom(U.K.)finally bade farewell to its 47-year-old EU membership on January 31,2019.It also made h...AFTER one referendum,two general elections,changes of prime ministers,and several rounds of negotiations,the United Kingdom(U.K.)finally bade farewell to its 47-year-old EU membership on January 31,2019.It also made history as the first country to withdraw from the EU."This is not an end,but a beginning,"British Prime Minister Boris Johnson quoted the maxim from former British Prime Minister Winston Churchill when addressing the British people on the Brexit day.展开更多
Brexit has a profound effect on the UK,the EU,even the whole world.The reference of Xin Bin’s specific intertextuality framework is used as a proper approach to analyzing Brexit speeches delivered by David Cameron,Th...Brexit has a profound effect on the UK,the EU,even the whole world.The reference of Xin Bin’s specific intertextuality framework is used as a proper approach to analyzing Brexit speeches delivered by David Cameron,Theresa May,and Boris Johnson-the predecessors and the present UK Prime Minister.Through analyzing,it is identified that the Prime Ministers share a similar attitude to the value proposition of Brexit,but have both similarities and differences in their thoughts of Brexit policies and future directions after Brexit.The research takes an integral analysis of Brexit,and hence provides a new perspective.展开更多
The UK is the most important partner of the EU in terms of economic and other fields due to the geographical proximity.It was one of the largest economies in the EU and its per capita income is higher than the EU aver...The UK is the most important partner of the EU in terms of economic and other fields due to the geographical proximity.It was one of the largest economies in the EU and its per capita income is higher than the EU average,so it is a net contributor to the EU.With UKs membership of the EU ended on 31 January 2019,there are concerns that the Brexit may have a significant impact on the EU,resulting in social,economic,political,and institutional changes,etc.in EU.While the impact of Brexit on the UK has always been the subject of considerable scholarly interest in recent years,there is relatively little literature on the impact of Brexit on the EU.This paper focuses on the evaluation of the impact of Brexit on the EU economy and other relevant aspects along three dimensions:GDP,PPP,Quarterly GDP growth.Employing powerful quantitative analysis technology that includes vector autoregression model,multivariate time series model with intervention variables,and autoregression integrated moving average,this paper obtains the important and novel evidence about the potential impact of Brexit on the EU economy,pointing out that Brexit is of far-reaching significance to the EU.This analysis uses several statistical models to screen out several key influencing factors,which can be used to predict the total GDP of EU in the next five years.The results show that EU economy will react negatively to"no-deal"Brexit,and its growth rate of economy will slow down significantly in next 5 years.Finally,we put forward relevant policy suggestions on how to deal with the negative impact of Brexit on EU.展开更多
This paper firstly analyzes the Brexit’s impact on the US stock market using a novel interval methodology. The interval-valued dummy variables are proposed to measure the direction and magnitudes of the changes in th...This paper firstly analyzes the Brexit’s impact on the US stock market using a novel interval methodology. The interval-valued dummy variables are proposed to measure the direction and magnitudes of the changes in the inter-day trend and the intra-day volatility of S&P500 returns simultaneously. It is found that both the trend and the volatility of S&P500 returns increased before the Brexit. Besides, the Brexit negatively affected S&P500 returns’ trend in the short term after the event,while its impact on market volatility was positive, which slowly decayed across time. Furthermore, a new interesting finding is that there are both short-term momentum effects(i.e., positive autocorrelation of trends) and volatility clustering in stock markets.展开更多
On 23 June 2016,the citizens of the United Kingdom(UK)took part in one of the most iconic votes in modern economic history as they voted in favour of the UK leaving the European Union(EU).This has resulted in great un...On 23 June 2016,the citizens of the United Kingdom(UK)took part in one of the most iconic votes in modern economic history as they voted in favour of the UK leaving the European Union(EU).This has resulted in great uncertainty around the future of the economy of the UK as well as the world economy.There were obvious and immediate effects around the time of the vote,such as the decrease in business and consumer confidence,depreciation in the value of the pound which will ultimately lead to inflation,and there are also many effects which we will only see come to fruition as the Brexit(Britain exiting from the EU)scenario plays out over the coming two-to three-year horizon.This allows us to conduct a scenario analysis of the various methods that the UK may utilise to withdraw from the EU and the effects that these methods will have on the economy of the UK and these effects will come through many channels.Our analysis shows how the Bank of England can use monetary policy to limit the effects of Brexit through trying to achieve its 2%inflation target.展开更多
During the period of different changes in the global situation,the stock indexes of China,the United States,and the United Kingdom all showed different trends.Overall,during the outbreak of the epidemic,they all recei...During the period of different changes in the global situation,the stock indexes of China,the United States,and the United Kingdom all showed different trends.Overall,during the outbreak of the epidemic,they all received a huge impact,and due to the different policies and coping strategies of various countries,the follow-up performance also varies greatly.Brexit has only had a slight impact on the British domestic market in a short period time,and China and the United States have prepared for investment in the new market after Brexit,which has also caused the corresponding market index to perform better before the follow-up.Due to the differences in the main market targets and the differences in the geographical location of countries,the negative impact on the British market was more obvious during the Russia-Ukraine conflict,while the stock indexes of China and the United States were relatively stable and even showed an upward trend.It can be seen from the data analysis that the markets in different countries are affected by time differently.With the growing correlation between the markets of various countries,investors should pay more attention to the global situation and the policy orientation of different countries.Considering risk diversification while taking policy dividends helps to obtain stable returns.展开更多
文摘Following Brexit, major changes are expected in the UK, the EU, and the relationship between the two, with far-reaching strategic effects on international politics that may develop truly unexpected aspects.Beyond the near-term challenges, the UK is likely to face new developmental opportunities in the long run. The internal power balance in the EU will undergo major changes, possibly leading to progress in diplomacy and defense but with increased internal suspicions, leading to a series of new contradictions. Regardless of its success, Brexit will long trouble the EU. A troubled UK may come to resent the EU, but it is also possible that a well-developed UK will create a development model that is different from those of the EU member states, setting an example for other members considering revaluating their relationship to the EU. The resulting instability may even change it to a free trade area. The UK is an important country, with global influence. Changes in UK-EU relations will have profound geopolitical consequences, and we can expect great changes in UK-American, European-American, UK-Russian, and European-Russian relations and larger relations between East and West. The competition and cooperation among major countries will gain complexity. Due to its close relationships with the UK and the EU, China will also be extensively and profoundly affected.
文摘After a long period of obsolescence,the Irish border issue has reemerged in the context of Brexit,and any solution will affect not only the UK’s national unity,but also the Northern Ireland peace process and UK-EU economic and trade relations.Back-and-forth negotiations brought about the Draft Withdrawal Agreement,which included the"backstop"arrangement for the Irish border.This agreement soon suffered strong opposition in the UK Parliament,while the EU refused to make any substantive concessions.Trapping Brexit into the"Britain-drag",the Irish border issue has become Brexit’s bottleneck.While the border issue carries sensitivity and complexity in itself,another even more important reason that is so significant is that it has become clear that the UK and the EU are not on the same track when it comes to interest defining and policy selection,never mind the tangled mentalities of Brexit.The Brexit dilemma,when combined with the Irish border issue,has cast a spotlight on the West’s political and social fragmentation,as well as the dysfunction of its parliamentary democracy.No matter how the withdrawal deal is settled in the future,the UK and the EU are likely to be persecuted by the Irish border issue for a long time to come.
文摘AFTER one referendum,two general elections,changes of prime ministers,and several rounds of negotiations,the United Kingdom(U.K.)finally bade farewell to its 47-year-old EU membership on January 31,2019.It also made history as the first country to withdraw from the EU."This is not an end,but a beginning,"British Prime Minister Boris Johnson quoted the maxim from former British Prime Minister Winston Churchill when addressing the British people on the Brexit day.
文摘Brexit has a profound effect on the UK,the EU,even the whole world.The reference of Xin Bin’s specific intertextuality framework is used as a proper approach to analyzing Brexit speeches delivered by David Cameron,Theresa May,and Boris Johnson-the predecessors and the present UK Prime Minister.Through analyzing,it is identified that the Prime Ministers share a similar attitude to the value proposition of Brexit,but have both similarities and differences in their thoughts of Brexit policies and future directions after Brexit.The research takes an integral analysis of Brexit,and hence provides a new perspective.
基金by the National Natural Science Foundation of China(No.11861042)the China Statistical Research Project(No.2020LZ25).
文摘The UK is the most important partner of the EU in terms of economic and other fields due to the geographical proximity.It was one of the largest economies in the EU and its per capita income is higher than the EU average,so it is a net contributor to the EU.With UKs membership of the EU ended on 31 January 2019,there are concerns that the Brexit may have a significant impact on the EU,resulting in social,economic,political,and institutional changes,etc.in EU.While the impact of Brexit on the UK has always been the subject of considerable scholarly interest in recent years,there is relatively little literature on the impact of Brexit on the EU.This paper focuses on the evaluation of the impact of Brexit on the EU economy and other relevant aspects along three dimensions:GDP,PPP,Quarterly GDP growth.Employing powerful quantitative analysis technology that includes vector autoregression model,multivariate time series model with intervention variables,and autoregression integrated moving average,this paper obtains the important and novel evidence about the potential impact of Brexit on the EU economy,pointing out that Brexit is of far-reaching significance to the EU.This analysis uses several statistical models to screen out several key influencing factors,which can be used to predict the total GDP of EU in the next five years.The results show that EU economy will react negatively to"no-deal"Brexit,and its growth rate of economy will slow down significantly in next 5 years.Finally,we put forward relevant policy suggestions on how to deal with the negative impact of Brexit on EU.
基金partially supported by the National Natural Science Foundation of China under Grant Nos.71703156, 71701199, 71988101, 72073126Fujian Provincial Key Laboratory of Statistics (Xiamen University) under Grant No. 201601。
文摘This paper firstly analyzes the Brexit’s impact on the US stock market using a novel interval methodology. The interval-valued dummy variables are proposed to measure the direction and magnitudes of the changes in the inter-day trend and the intra-day volatility of S&P500 returns simultaneously. It is found that both the trend and the volatility of S&P500 returns increased before the Brexit. Besides, the Brexit negatively affected S&P500 returns’ trend in the short term after the event,while its impact on market volatility was positive, which slowly decayed across time. Furthermore, a new interesting finding is that there are both short-term momentum effects(i.e., positive autocorrelation of trends) and volatility clustering in stock markets.
基金supported by the Fundamental Research Funds for the Central Universities(China)[Grant number 15XNI001].
文摘On 23 June 2016,the citizens of the United Kingdom(UK)took part in one of the most iconic votes in modern economic history as they voted in favour of the UK leaving the European Union(EU).This has resulted in great uncertainty around the future of the economy of the UK as well as the world economy.There were obvious and immediate effects around the time of the vote,such as the decrease in business and consumer confidence,depreciation in the value of the pound which will ultimately lead to inflation,and there are also many effects which we will only see come to fruition as the Brexit(Britain exiting from the EU)scenario plays out over the coming two-to three-year horizon.This allows us to conduct a scenario analysis of the various methods that the UK may utilise to withdraw from the EU and the effects that these methods will have on the economy of the UK and these effects will come through many channels.Our analysis shows how the Bank of England can use monetary policy to limit the effects of Brexit through trying to achieve its 2%inflation target.
文摘During the period of different changes in the global situation,the stock indexes of China,the United States,and the United Kingdom all showed different trends.Overall,during the outbreak of the epidemic,they all received a huge impact,and due to the different policies and coping strategies of various countries,the follow-up performance also varies greatly.Brexit has only had a slight impact on the British domestic market in a short period time,and China and the United States have prepared for investment in the new market after Brexit,which has also caused the corresponding market index to perform better before the follow-up.Due to the differences in the main market targets and the differences in the geographical location of countries,the negative impact on the British market was more obvious during the Russia-Ukraine conflict,while the stock indexes of China and the United States were relatively stable and even showed an upward trend.It can be seen from the data analysis that the markets in different countries are affected by time differently.With the growing correlation between the markets of various countries,investors should pay more attention to the global situation and the policy orientation of different countries.Considering risk diversification while taking policy dividends helps to obtain stable returns.