An Empirical Assessment of UK Economic Performance in the Context of Brexit: An EU Wide Comparison

Authors : Murat PÜTÜN, Semin PAKSOY

Pages : 137-151

Doi:10.21121/eab.729513

View : 89 | Download : 15

Publication Date : 2020-04-30

Article Type : Research Paper

Abstract :This paper investigates overall well-being of the UK economy in comparison with other EU member countries-prior to 2015 referendum. The results will help to comprehend the very nature of the exit decision in this light. This work to a certain extent expected to help establish whether the decision taken at the referendum was more reflection of a political nature that accommodated partisan bias- or- rather it was based on the public concerns stemming from economic considerations. This empirical research employs PROMETHEE method which is one of the best known multi criteria methods. The alternatives in the comparison matrix are comprised of 28 EU member countries and the criteria are comprised of nine criteria. The overall performance is the combination of fundamental indicators most of which-one way or another-were related to the political debate on the eve of referendum.
Keywords : PROMETHEE method, European economic integration, Brexit referendum, UK economy, Financial crisis, Single market

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