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Brexit impact on European Union's destructuration and its contribution to a new economic crisis: A new modelling approach
Author(s) -
Ionescu RomeoVictor,
Zlati Monica Laura,
Antohi Valentin Marian
Publication year - 2021
Publication title -
international journal of finance and economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.505
H-Index - 39
eISSN - 1099-1158
pISSN - 1076-9307
DOI - 10.1002/ijfe.1865
Subject(s) - brexit , european union , economics , dimension (graph theory) , point (geometry) , economy , macroeconomics , international economics , mathematics , geometry , pure mathematics
Abstract The basic economics considers that Brexit will have a great impact on EUs economy after its finalization. This study introduces a new model (RIV‐2) and a new mathematical approach to quantify and measure the Brexit's impact on EU and UK. Five representative economic indicators were put into analysis during a specific time period. The analysis in the paper points out the elements and the dimension of the economic destructuration in UK and EU economies due to the Brexit. Moreover, the forecasting procedures applied in the paper lead to the same economic conclusions. The correlated analyses realized in connection to UK and EU economies point out the future better economic performance of the EU economy compared to UK economy on short and medium terms.