VIET NAM NATIONAL UNIVERSITY OF AGRICULTURE

FACULTY OF ACCOUNTING AND BUSINESS

MANAGEMENT
----------------------

TRADE AND DEVELOPMENT (KTE03043)

Title of topic “Trade and development activities of the United Kingdom after leaving the
European Union”

CLASS OF K66QTKDT

Name of student: Nguyen Hong Trang Student No.: 666679

Hanoi, 09/ 2024

 TABLE OF CONTENTS

I. INTRODUCTION ................................................................................................................... 2

1. Basic information about the United Kingdom ...................................................................... 2

2. Overview of the UK Economy after leaving the EU ............................................................ 3

3. Economic growth and international trade ............................................................................. 4

3.1. Economic growth ............................................................................................................ 4

3.2. International trade ........................................................................................................... 5

3.2.1. Import ..................................................................................................................... 5

3.2.2. Export ..................................................................................................................... 6

3.2.3. Partners ................................................................................................................... 7

II. THE TRADE POLICIES OF EACH PERIOD ................................................................... 8

III. THE ROLE OF TRADE IN SOCIO-ECONOMIC DEVELOPMENT ......................... 10

1. Promote economic growth ................................................................................................... 10

2. Promote economic structural transformation ...................................................................... 10

3. International cooperation and economic integration ........................................................... 11

IV. CONCLUSION AND LESSONS LEARNED ................................................................... 11

1. Conclusion ........................................................................................................................... 11

2. Lessons learned ................................................................................................................... 12

REFERENCES .......................................................................................................................... 13

1
I. INTRODUCTION

1. Basic information about the United Kingdom

The United Kingdom (UK) is a sovereign country located off the northwestern coast of
mainland Europe. Comprising four nations—England, Scotland, Wales, and Northern Ireland—
the UK has a population of around 67 million people, with its capital, London, being one of the
most influential cities in the world. The UK operates as a constitutional monarchy with a
parliamentary democracy, where the head of state is the monarch and the head of government is
the Prime Minister. Its rich history, dating back thousands of years, includes the rise and
influence of the British Empire, which at its height, controlled vast territories across the globe.

Economically, the UK is one of the world’s largest and most developed economies. It has a
highly diversified economy with significant contributions from sectors such as finance,
manufacturing, technology, and services. London serves as a global financial hub, attracting
businesses, investors, and skilled workers from around the world. The country’s currency is the
British pound (GBP), which is one of the oldest and most traded currencies globally. The UK
was a member of the European Union from 1973 until 2020, after which it left the EU following
the Brexit referendum.
Culturally, the UK has a profound impact on global arts, science, literature, and education.
Institutions such as Oxford and Cambridge are renowned for their academic excellence, and the
UK's influence in literature, theater, and music is felt globally, with figures like William
Shakespeare and The Beatles shaping cultural history. The country also boasts diverse
landscapes, from the rolling hills of the English countryside to the rugged Scottish Highlands,
making it a popular tourist destination. Despite its relatively small size, the UK's legacy as a
global leader in trade, culture, and diplomacy continues to shape its role on the world stage.

2
2. Overview of the UK Economy after leaving the EU
After leaving the European Union in January 2020, the United Kingdom experienced a
significant economic transition. One of the most apparent benefits was that the UK could
maintain the British pound (GBP) as an independent currency. This allowed the country to freely
adjust its monetary policy to suit domestic economic conditions, thereby enhancing its ability to
control inflation and promote economic growth. Retaining its own currency also helped the UK
maintain its global reputation as a stable and strong currency.
In addition, the UK gained benefits from its autonomy in establishing its own trade policies
and regulations. This allowed the UK government to sign independent trade agreements with
other countries to promote trade and investment. These agreements can be tailored to the
interests of the UK without being bound by the common regulations of the EU.
However, leaving the EU also led to some significant economic challenges. The UK lost its
access to the free market of the European Union, one of the largest consumer markets for its
goods and services. This has caused difficulties for many industries, particularly manufacturing,
agriculture, and financial services, where exports to the EU play a crucial role. Businesses faced
tariff barriers and new regulations, leading to increased costs and reduced competitiveness.
Moreover, disruptions in the supply chain also became a major issue for the UK after Brexit.
Many companies struggled to maintain stable supplies due to changes in shipping processes and
new documentation requirements. This not only affected production but also led to shortages of
goods in stores, especially in the context of the COVID-19 pandemic.
In addition to the economic challenges, Brexit has also had profound social and political
impacts. Many citizens are concerned about losing their freedom of movement and job
opportunities within the EU, which has affected the labor market and the ability to attract talent.

3
Furthermore, companies have had to adjust their recruitment and workforce development
strategies to adapt to these changes.
In summary, while the United Kingdom has gained some benefits from retaining the British
pound and independence in monetary policy, leaving the EU has also brought many challenges
regarding trade, production, and labor supply. Finding a way to balance economic autonomy
with restoring strong trade relationships with Europe will be an important task in the coming
years.

3. Economic growth and international trade

3.1. Economic growth
Since the UK left the European Union, the economy of the United Kingdom has faced
numerous challenges and fluctuations, affecting GDP growth, labor markets, inflation, and the
cost of living due to changes in trade and economic policies.
Year GDP Growth (%) Unemployment Rate (%) Inflation (%) Cost of Living
2020 - 9.8 5.0 0.9 Increased
2021 7.4 4.5 2.5 Increased
2022 4.0 4.3 9.1 Very high
Table 1. Economic Growth Data in the UK Post-Brexit
In 2020, the UK economy recorded a sharp decline in GDP, estimated to have decreased by
around 9.8% due to the impact of the COVID-19 pandemic. Disruptions in supply chains and a
significant drop in consumption and investment led to this decline. Sectors such as tourism,
hospitality, and restaurants were particularly hard hit. According to the Office for National
Statistics (ONS), the unemployment rate rose to 5.0% by the end of 2020, partly due to the
cessation of employment support measures amid the economic downturn.
Entering 2021, the UK economy saw a strong recovery, with GDP growing by approximately
7.4%. This recovery was primarily driven by a rapid COVID-19 vaccination program and
government stimulus measures. However, the labor market still faced challenges, with the
unemployment rate remaining at 4.5%, and labor shortages in sectors like agriculture and
construction due to new immigration regulations following Brexit. Inflation began to rise,
reaching 2.5% by the end of 2021, mainly due to increasing energy and raw material prices.
In 2022, the UK economy continued to face challenges as inflation surged to 9.1% in May. GDP
growth was only about 4.0%, lower than expected due to rising global commodity prices and
increasing living costs. The cost of living became a prominent issue as consumers faced higher
prices for food and energy. The labor market also struggled, with the unemployment rate
increasing to 4.3% by the end of the year due to changes in employment structure and labor
shortages in many sectors.
In summary, the impact of COVID-19 disrupted the global economy and led to a significant
decline in consumption and investment in the UK. New trade policies resulting from leaving the

4
EU introduced trade barriers that affected exports and imports, particularly in agriculture and
manufacturing. Additionally, rising energy and raw material prices, driven by geopolitical
tensions and global supply chain disruptions, have contributed to soaring inflation. The end of
free movement between the UK and the EU has also resulted in labor shortages across many
sectors, putting pressure on key industries. The UK economy after Brexit has experienced
numerous fluctuations with both recovery and challenges, reflecting the complexity of internal
and global factors influencing economic growth.
3.2. International trade
3.2.1. Import
After leaving the European Union (EU), the flow of imported goods into the UK has
undergone many significant and complex changes. Before Brexit, the UK was part of the
European single market, where goods were freely circulated without customs or tariff barriers.
However, since officially leaving the EU at the end of January, 2020, the UK has faced new
customs duties and control barriers. This has not only increased import costs but also caused
delays in supply chains, directly affecting businesses and consumers.
One of the biggest challenges the UK has faced is the implementation of new customs
inspection regulations and product standards for goods imported from the EU. British businesses,
especially small businesses, have had to deal with more complicated procedures to ensure that
their goods comply with the new regulations. For example, food and agricultural products have
faced considerable difficulties in being imported into the UK after Brexit. Notably, agricultural
products such as beef and milk from the EU have encountered significant challenges. The main
reason is due to stringent safety control regulations from both the EU and the UK, which have
led to paperwork issues and border inspection delays. This has slowed the import process and
increased storage costs, causing considerable damage to UK importers and businesses.
Additionally, these procedures have particularly affected perishable goods. Moreover, the labor
shortages in the UK’s transport and logistics sectors, partly due to the end of free movement of
labor between the UK and the EU, have exacerbated delays in importing goods.
Another product group facing challenges is organic agricultural products, which require strict
certification standards. Brexit has created regulatory differences between the UK and the EU
regarding what constitutes “organic,” leading to some EU organic agricultural products no longer
being certified in the UK, creating difficulties for importers.
Despite many difficulties, there are still goods that are imported heavily into the UK from the
EU due to high domestic demand. Items such as pharmaceuticals, cars, and electronic
components still account for a large proportion of imports. In particular, the pharmaceutical
sector plays an important role in ensuring supply for the UK’s healthcare system, especially in
the context of the COVID-19 pandemic. Medical products and medicines imported from the EU
continue to be maintained at high levels due to reliance on supplies from European countries
with advanced pharmaceutical industries such as Germany and France.

5
 A specific example of favorable goods flow is the importation of cars from Germany.
Germany is one of the largest suppliers of cars to the UK, and despite Brexit, consumer demand
for cars from well-known brands like BMW, Mercedes-Benz, and Volkswagen remains high.
However, the cost of importing these cars has risen due to new tariffs and controls, increasing the
retail prices of cars in the UK.
3.2.2. Export
In terms of exports, before Brexit, goods from the UK to the EU and vice versa were traded
freely, without customs duties or inspections. However, from January 2021, UK businesses
began facing new regulations regarding customs procedures, tariffs, and sanitary and
phytosanitary (SPS) standards, making the import-export process more complex and costly.
The UK has maintained its strength in certain key sectors, but not without facing difficulties.
The UK's main export products include pharmaceuticals, machinery, transport vehicles, and
financial services. The pharmaceutical sector is one of the strongest in UK exports, with an
estimated pharmaceutical export value of around £27 billion in 2022. Global demand for
pharmaceuticals, particularly during the COVID-19 pandemic, has helped the UK maintain an
important role in the international pharmaceutical supply chain. The reason pharmaceuticals have
become one of the UK's key exports is due to the country's advanced medical research and
development system, along with large global pharmaceutical companies such as
GlaxoSmithKline and AstraZeneca.
In addition to pharmaceuticals, the UK also has strength in exporting transport vehicles,
particularly luxury cars. Brands like Rolls-Royce, Bentley, and Jaguar Land Rover are not only
famous in the domestic market but also have significant appeal in international markets, from
Europe to Asia and North America. However, the automotive industry has also faced numerous
challenges post-Brexit. New regulations regarding the origin of goods, safety certificates, and
environmental standards from the EU have increased production and operational costs. This has
led to a decline in car exports from the UK to the EU, especially in the initial period following
Brexit's implementation.
Conversely, some other UK goods have faced significant challenges in exporting after Brexit.
For example, the food and beverage industry, particularly meat and seafood, has been heavily
impacted. Before Brexit, UK seafood products like salmon and lobsters could easily be exported
to EU markets without customs barriers. However, after Brexit, these products now face strict
health checks and customs procedures, leading to delays and increased shipping costs. Many
seafood producers in Scotland have reported difficulties in accessing EU markets, resulting in
decreased revenue and affecting the livelihoods of local communities.
Additionally, the UK's agricultural sector has struggled to export to the EU. SPS regulations
have made exporting agricultural products such as meat, dairy, and vegetables from the UK to
the EU more complex and costly. A specific example is the beef and lamb industry, one of the
UK's major agricultural exports. After Brexit, UK meat products must comply with strict food
hygiene regulations from the EU, reducing their competitiveness compared to similar products
from other EU countries.

6
3.2.3. Partners
After leaving the European Union (EU), the United Kingdom has made significant
adjustments to its international trade policy, seeking to strengthen its relationships with non-EU
partners. The UK's withdrawal from the EU has prompted the country to negotiate new trade
agreements and reinforce ties with major global economies to compensate for the decline in trade
with the EU.
However, there are EU counties with strong trade relations with the UK: Germany, France,
The Netherlands, Ireland.
Germany is one of the UK's largest trading partners in the EU. Trade relations between the two
countries focus on the export of cars, machinery, and other industrial products. Despite the
increased customs barriers post-Brexit, Germany and the UK continue to have strong economic
ties due to high demand for each other's engineering and technological products.
France remains an important partner for the UK, particularly in sectors such as aviation,
aerospace, and consumer goods. The two countries have a long-standing trade relationship, and
despite complications from new post-Brexit regulations, trade continues, especially through sea
routes and the Eurotunnel.
The Netherlands serves as a major trading hub in Europe and acts as a gateway for British
goods entering the EU market. Goods from the UK are often shipped through large ports like
Rotterdam. Trade relations between the two countries remain strong post-Brexit, especially in
sectors like food and agriculture.
Ireland has a very unique trading relationship with the UK, not only due to geographical
proximity but also because of their long historical connection. Cross-border trade between
Northern Ireland (part of the UK) and the Republic of Ireland has been regulated by the Northern
Ireland Protocol, which aims to avoid a hard border between the two. Trade between the two
countries retains some flexibility, allowing goods to move more freely compared to other EU
nations.
The United States is now one of the UK's largest non-EU trading partners. Trade between the
UK and the US has increased post-Brexit, and both sides are negotiating a free trade agreement
to further boost bilateral economic relations. Key products that the UK exports to the US include
pharmaceuticals, machinery, medical devices, and financial services. The UK's financial services
sector, in particular, plays a dominant role, with London remaining one of the world's top
financial hubs.
However, despite the expected growth in trade relations with the US post-Brexit, certain
issues related to trade regulations and US tax policies could pose challenges to ongoing trade
negotiations.
China has also emerged as an important trading partner for the UK post-Brexit. China is one
of the UK's largest export markets, with key exports including machinery, transport vehicles, and

7
luxury goods. Trade with China has been driven by strong consumer demand for UK technology
products and high-quality goods, particularly luxury car brands.
However, UK-China trade relations are not without challenges, especially given geopolitical
tensions and concerns over national security. The UK government has tightened regulations on
Chinese investment in sensitive sectors, such as telecommunications and technology.
The Commonwealth nations, including Canada, Australia, India, and New Zealand, are
strategic trade targets for the UK after Brexit. The UK has signed several free trade agreements
with these nations to boost exports and economic cooperation.
For example, the trade agreement with Australia is seen as a major breakthrough post-Brexit,
reducing tariffs on agricultural products and services while expanding market access for key UK
industries. However, despite several trade deals, access to Commonwealth markets has not fully
replaced the EU market.
The UK has also expressed a desire to join the Comprehensive and Progressive Agreement for
Trans-Pacific Partnership (CPTPP), a major trade bloc that includes 11 countries in the Asia-
Pacific region, such as Japan, Canada, and Singapore. Joining the CPTPP would open up wider
market opportunities for the UK, particularly in technology and financial services, where the UK
holds a competitive global advantage.

II. THE TRADE POLICIES OF EACH PERIOD

The UK's trade policies after leaving the European Union (EU) have evolved significantly to
address the new economic landscape. With the end of free movement of goods, services, capital,
and people, the UK had to develop a series of trade strategies to replace the benefits it once
enjoyed as part of the EU. Below is an analysis of the UK’s trade policies across different
periods post-Brexit:

2020 - Transition Period

EU Withdrawal Agreement: The UK officially left the EU on January 31, 2020, but trade
policies remained largely the same during the transition period, which lasted until December 31,
2020. This period allowed businesses and governments time to adjust to the impending changes.
The UK continued to follow EU trade rules and regulations during this phase, meaning no
immediate change to tariffs, customs, or border checks.

Trade Negotiations Begin: During this time, the UK entered negotiations with several non-EU
countries and started its efforts to forge independent trade deals, primarily to secure continuity
agreements for trade that had previously been covered by EU agreements.

2021 - The Early Post-Brexit Phase

8
Trade and Cooperation Agreement (TCA): On January 1, 2021, the UK implemented the
TCA with the EU. This agreement established the framework for future UK-EU trade relations,
avoiding the imposition of tariffs and quotas on goods but introducing new customs checks, rules
of origin requirements, and regulations on services. The TCA included provisions for continued
cooperation on security, transport, and energy but introduced significant friction in trade,
particularly around issues like regulatory divergence and border checks.

New Customs and Regulatory Barriers: Post-TCA, UK businesses began to face additional
customs documentation, rules of origin checks, and sanitary and phytosanitary (SPS)
requirements for exporting goods to the EU. Industries such as fisheries, agriculture, and
automotive were particularly affected, as non-tariff barriers slowed trade and increased costs.

Global Britain Strategy: With the departure from the EU, the UK government launched the
“Global Britain” strategy, aiming to reposition the UK as a major player in global trade. This
involved strengthening ties with non-EU countries and creating new trade agreements. The UK
sought to diversify its trade portfolio, focusing on markets in Asia, Africa, and the Americas.

2022 - Expanding Global Trade Networks

Bilateral Trade Agreements: In 2022, the UK continued to sign bilateral and regional trade
agreements. The UK negotiated deals with countries like Japan (UK-Japan Comprehensive
Economic Partnership Agreement), Australia, and New Zealand. These agreements emphasized
sectors like digital trade, services, and agriculture, where the UK had strategic interests.

CPTPP Negotiations: The UK began the process of joining the Comprehensive and Progressive
Agreement for Trans-Pacific Partnership (CPTPP), a trade bloc that includes countries such as
Canada, Mexico, Japan, and Australia. Joining CPTPP was part of the UK’s strategy to pivot
towards fast-growing markets in the Indo-Pacific region, a key priority of the "Global Britain"
vision.

Northern Ireland Protocol: The UK continued to navigate the complexities of the Northern
Ireland Protocol, a special trade arrangement designed to avoid a hard border between Northern
Ireland and the Republic of Ireland. The protocol effectively kept Northern Ireland aligned with
certain EU trade rules to prevent checks at the border, creating friction between different parts of
the UK’s internal market and leading to ongoing negotiations to simplify the system.

In the coming years, the United Kingdom is expected to continue adjusting its trade policies to
adapt to new global trends. The UK government is prioritizing digital trade agreements, aiming
to leverage its advantages in areas such as financial services, technology, and e-commerce.
Additionally, the UK is focusing on agreements that promote green and sustainable growth,
creating favorable trade conditions for clean technology and renewable energy sectors. In a
global context increasingly concerned with climate change, these are areas where the UK can
play a pioneering and leading role.

9
III. THE ROLE OF TRADE IN SOCIO-ECONOMIC DEVELOPMENT

1. Promote economic growth

After leaving the EU, trade has played a crucial role in driving economic growth in the UK.
The country has sought to diversify its trade relationships beyond the European market,
exploring new markets in Asia, the Americas, and Africa. By negotiating free trade agreements
(FTAs) with countries such as Japan, Australia, and New Zealand, the UK aims to reduce tariffs
and non-tariff barriers, enabling British businesses to access new customer bases and expand
their exports.
The government's focus on sectors with high export potential, such as technology,
pharmaceuticals, and financial services, has further fueled economic growth. For instance, the
UK's pharmaceutical industry remains one of the largest in the world, and post-Brexit, it has
benefited from increased demand for vaccines and healthcare products. The success of these
industries in international markets contributes to job creation, higher wages, and increased
investment in research and development, thereby promoting overall economic growth.
Moreover, the trade initiatives undertaken post-Brexit are expected to enhance the UK’s GDP
in the long term. By expanding into emerging markets, the UK can tap into new opportunities,
driving up production and consumption. The trade policy shift toward a more global focus also
allows the UK to position itself as a competitive player in international trade, encouraging
foreign direct investment (FDI) and stimulating domestic industries.
2. Promote economic structural transformation
Trade has been a catalyst for economic structural transformation in the UK since leaving the
EU. The necessity to adapt to new trade dynamics has prompted the UK to rethink its economic
strategy, focusing on sectors that can drive future growth. This shift is evident in the increasing
emphasis on high-tech industries, digital services, and green technologies.
As traditional industries, such as manufacturing, face challenges from global competition and
technological advancements, the UK government has recognized the need to foster innovation
and transition towards a knowledge-based economy. The trade policies that prioritize research
and development, education, and skills training are vital for equipping the workforce for the
demands of modern industries. For instance, the government has invested in tech hubs and
innovation centers, encouraging collaboration between universities, research institutions, and
businesses to drive technological advancements.
Furthermore, the UK's commitment to sustainability and green technologies aligns with global
trade trends. By promoting clean energy solutions and sustainable practices, the UK not only
addresses domestic environmental concerns but also positions itself as a leader in global efforts
to combat climate change. This focus on sustainability is likely to attract investment and open
new export markets, thereby facilitating the structural transformation of the economy.

10
3. International cooperation and economic integration
Post-Brexit, the UK's trade policies reflect a renewed focus on international cooperation and
economic integration. While leaving the EU marked a significant shift in the UK’s trading
environment, it has opened avenues for forging new partnerships and strengthening existing ties
with countries around the world.
The UK's participation in multilateral trade agreements and organizations, such as the World
Trade Organization (WTO) and regional partnerships in the Indo-Pacific region, demonstrates its
commitment to global economic integration. By engaging with countries outside the EU, the UK
aims to diversify its trade relationships and reduce dependency on European markets. For
example, the UK-Japan Comprehensive Economic Partnership Agreement (CEPA) represents a
significant step in establishing closer economic ties with Asia, providing British businesses with
greater access to Japanese markets.
Moreover, the UK is keen on collaborating with other countries to address global challenges,
such as climate change and public health. Trade agreements increasingly incorporate provisions
related to environmental protection and labor standards, reflecting the UK’s commitment to
sustainable development and ethical trade practices. This approach not only enhances the UK's
international standing but also fosters a cooperative global trading environment, encouraging
shared prosperity and mutual benefits.

IV. CONCLUSION AND LESSONS LEARNED

1. Conclusion
After leaving the EU, the UK has undergone significant transformations in its trade landscape,
marked by both challenges and opportunities. The transition away from the European single
market necessitated a comprehensive reevaluation of the UK’s trade policies and strategies.
While the immediate aftermath of Brexit saw disruptions and increased complexities in trade
with EU countries—particularly concerning customs procedures, tariffs, and regulatory
compliance—the UK has since sought to establish itself as a global trading nation by pursuing
new trade agreements and diversifying its economic partnerships.
One of the key strategies employed by the UK has been the negotiation of free trade
agreements with non-EU countries, which has opened up new markets for British goods and
services. Agreements with nations such as Japan, Australia, and New Zealand exemplify the
UK’s ambition to bolster its international trade relations and enhance economic growth. The
focus on high-value sectors, including technology, pharmaceuticals, and financial services,
reflects a deliberate effort to leverage the UK's competitive advantages in these industries and
position itself favorably in the global marketplace.
In conclusion, the UK's trade landscape post-Brexit presents a complex picture characterized
by both risks and opportunities. The government's proactive approach in negotiating new trade

11
agreements and promoting high-growth sectors indicates a commitment to transforming the UK
into a competitive player in the global economy. As the UK navigates this new trade reality, its
ability to adapt and innovate will be crucial in shaping its future economic prospects and
maintaining strong international partnerships.
2. Lessons learned
The trade experience of the United Kingdom after leaving the EU provides valuable lessons
for Vietnam, especially in the context of an increasingly volatile and complex global economy.
Formulating Independent Trade Policies: Brexit forced the UK to reassess and reshape its
trade policies. Vietnam should continue to develop independent and flexible trade policies to
quickly adapt to changes in the international trade environment. This includes strengthening free
trade agreements (FTAs) with various partners to minimize reliance on a single market.
Enhancing Competitiveness: The UK’s focus on high-value sectors, such as technology,
pharmaceuticals, and financial services, highlights the importance of developing core industries.
Vietnam should invest in research and development, technological innovation, and product
quality enhancement to increase its competitiveness in the global market. Areas such as
information technology, renewable energy, and food processing could be promising sectors for
growth.
Adapting to New Regulations: The UK's experience shows that changes in trade regulations
can pose significant challenges. Vietnam needs to prepare to adapt to international standards and
regulations, including those related to food safety, the environment, and product quality.
Strengthening the capacity of businesses to understand and comply with these regulations will
help mitigate risks and seize export opportunities.
Investing in International Relationships: Brexit demonstrates the importance of maintaining
and developing international relationships to ensure economic stability and growth. Vietnam
should actively participate in international trade forums and expand diplomatic relations with
countries and regional and global economic organizations to create new trade and investment
opportunities.
Developing Sustainable Strategies: Finally, the UK’s emphasis on green and sustainable trade
agreements reflects the necessity of considering environmental factors in economic development
strategies. Vietnam should also consider developing clean and sustainable industries to protect
the environment while meeting the increasing demand from international markets for eco-
friendly products.

12
REFERENCES

Meredith Crowley (3 August 2021), Faculties and departments Economics - University of

Cambridge - Trade Policy Post-Brexit.

John Van Reenen, Thomas Sampson, Hanwei Huang, Gianmarco Ottaviano, Swati Dhingra (4
Apr 2016). The consequences of Brexit for UK trade and living standards, Trade and
Growth’, Quarterly Journal of Economics 131(1): 315-80, 131(1): 315-380.

Dhingra, S., H. Huang, G. Ottaviano, J.P. Pessoa, T. Sampson and J. Van Reenen (2016a) ‘The
Costs and Benefits of Leaving the EU: Trade Effects’, Centre for Economic Performance
Technical Report.

Portes, J. and Springford, J., “The Impact of the Post-Brexit Migration System on the UK Labour
Market”, Discussion Paper Series, No 15883, IZA Institute of Labor Economics, January 2023.

M., Forde, C., Alberti, G. and Walsh, P.W.(2020), “How is the End of Free Movement Affecting
the Low-wage Labour Force in the UK?”,

Monetary Policy Report”, Bank of England, February 2023.

Pisani, M. and Vergara Caffarelli, F., “What will Brexit mean for the British and euro-area
economies? A model-based assessment of trade regimes”, Temi di Discussione (Working
Papers), No 1163, Banca d’Italia, January 2018.

13