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Should Britain Leave the EU?: An Economic Analysis of a Troubled Relationship

Should Britain Leave the EU?: An Economic Analysis of a Troubled Relationship

Author: Patrick Minford, Vidya Mahambre; Sakshi Gupta
Publisher: Edward Elgar Publishing
ISBN: 9781785360343

Published In: December 2015
Format: Paperback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only
Hardback Edition ISBN: 9781785360329

List Price: HKD 493.35

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Description
Contents

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Placed in the context of the upcoming referendum, this second edition brings up to date a thorough review of all economic aspects of the UK's membership of the EU. It notes the intention of the EU to move to 'ever closer union' and the nature of the regulatory and general economic philosophy of its dominant members, whose position is enforced by qualified majority voting.

The book highlights the UK's dilemma that, while extending free markets to its local region is attractive, this European philosophy and closer union are substantially at odds with the UK's traditions of free markets and freedom under the common law.

This comprehensive examination of the economic costs and benefits of membership uses state of the art modeling methods and includes estimates of its net costs as a percentage of GDP. The book explains how the decision to leave would follow from a judgement on the political economy of the EU as compared with that of the UK.

It details the misconceptions involved in much of the debate about trade with the EU, and argues that the key issue is not access to markets but rather the prices at which trade takes place. Covered in careful detail is the economics of the UK's trade with the EU in the key sectors of agriculture, manufacturing, and services.

Written in non-technical language accessible to the interested layman, this timely second edition is essential reading ahead of the upcoming referendum on EU membership in the UK.

Contents

PART I UK COSTS AND BENEFITS OF EU MEMBERSHIP

1. Introduction, The UK's Relationship to the EU, The Aim of this Book and Policy Conclusions

2. The Costs of EU Regulation

3. The Cost of the Euro

4. The Cost of EU Trade Policies for the UK

APPENDIX A: Price Comparison to Calculate Protection

APPENDIX B: The Computable General Equilibrium Model for Trade

PART II RECENT TRADE DEVELOPMENTS- FACTS AND ANALYSIS

5. Agriculture

6. Manufactures

7. Services