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Brexit One Month On

It is a month since the UK's historic vote to exit the EU. The more that I reflect on Brexit, the more that I'm convinced that it is not one of the major economic headwinds facing the UK. There are at least five other major problems facing the UK economy which concern me - economic inequality, a dysfunctional financial system, declining labour productivity, a decline in growth-enhancing innovation, and China's ability to become a high-income economy. Brexit will impose an economic cost on the UK economy, but these five headwinds will ultimately determine the future of the UK economy. Indeed, several of these (particularly inequality) may even have contributed to the Brexit vote.

Several of my colleagues at Queen's Management School have been doing some analysis of the result and vote. Alan Fernihough's piece can be found hereChris Colvin's can be found here, and Sergey Popov's can be found here.

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