IDEAS home Printed from https://ideas.repec.org/a/oup/oxford/v33y2017isuppl_1ps22-s30..html
   My bibliography  Save this article

A hitch-hiker’s guide to post-Brexit trade negotiations: options and principles

Author

Listed:
  • Swati Dhingra
  • Gianmarco Ottaviano
  • Thomas Sampson

Abstract

Brexit will require the UK to negotiate new trade arrangements with the EU. After summarizing the main options for future UK–EU trade relations, this article reviews the purpose of trade agreements. We highlight that trade negotiations are a bargaining game between countries seeking to reap the gains from international coordination while conceding as little as possible to their negotiating partners. This leads us to propose four principles the UK should adopt to guide its trade negotiating strategy: (i) you get what you give; (ii) where negotiations start from matters; (iii) bargain from a position of power; and (iv) invest in negotiating capacity.

Suggested Citation

  • Swati Dhingra & Gianmarco Ottaviano & Thomas Sampson, 2017. "A hitch-hiker’s guide to post-Brexit trade negotiations: options and principles," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 33(suppl_1), pages 22-30.
  • Handle: RePEc:oup:oxford:v:33:y:2017:i:suppl_1:p:s22-s30.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1093/oxrep/grx005
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Dhingra, Swati & Ottaviano, Gianmarco I. P. & Sampson, Thomas & Reenen, John Van, 2016. "The consequences of Brexit for UK trade and living standards," LSE Research Online Documents on Economics 66144, London School of Economics and Political Science, LSE Library.
    2. Swati Dhingra & Thomas Sampson, 2016. "Life after Brexit : What are the UK’s options outside the European Union?," CEP Brexit Analysis Papers 01, Centre for Economic Performance, LSE.
    3. Kyle Bagwell & Robert W. Staiger, 2001. "Domestic Policies, National Sovereignty, and International Economic Institutions," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 116(2), pages 519-562.
    4. Thomas Sampson, 2016. "Four principles for the UK's Brexit trade negotiations," CentrePiece - The magazine for economic performance 489, Centre for Economic Performance, LSE.
    5. Swati Dhingra & Gianmarco Ottaviano & Thomas Sampson & John Van Reenen, 2016. "The impact of Brexit on foreign investment in the UK," CEP Brexit Analysis Papers 03, Centre for Economic Performance, LSE.
    6. Grossman, Gene, 2016. "The Purpose of Trade Agreements," CEPR Discussion Papers 11151, C.E.P.R. Discussion Papers.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Swati Dhingra & Gianmarco Ottaviano & Veronica Rappoport & Thomas Sampson & Catherine Thomas, 2018. "UK trade and FDI: A post‐Brexit perspective," Papers in Regional Science, Wiley Blackwell, vol. 97(1), pages 9-24, March.
    2. Philip Mayer & Christopher Stephen Ball & Stefan Vögele & Wilhelm Kuckshinrichs & Dirk Rübbelke, 2019. "Analyzing Brexit: Implications for the Electricity System of Great Britain," Energies, MDPI, vol. 12(17), pages 1-27, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Patrick Bisciari, 2019. "A survey of the long-term impact of Brexit on the UK and the EU27 economies," Working Paper Research 366, National Bank of Belgium.
    2. International Monetary Fund, 2016. "United Kingdom: Selected Issues," IMF Staff Country Reports 2016/169, International Monetary Fund.
    3. Thomas Sampson, 2017. "Brexit: The Economics of International Disintegration," Journal of Economic Perspectives, American Economic Association, vol. 31(4), pages 163-184, Fall.
    4. Halmai, Péter, 2020. "A dezintegráció gazdaságtana. A brexit esete [The economics of disintegration. The case of Brexit]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 837-877.
    5. Jane Falkingham & Corrado Giulietti & Jackline Wahba & Chuhong Wang, 2021. "The impact of Brexit on international students’ return intentions," Manchester School, University of Manchester, vol. 89(2), pages 139-171, March.
    6. Dhingra, Swati & Machin, Stephen & Overman, Henry, 2017. "Local Economic Effects of Brexit," National Institute Economic Review, National Institute of Economic and Social Research, vol. 242, pages 24-36, November.
    7. Davies, Ronald B. & Studnicka, Zuzanna, 2018. "The heterogeneous impact of Brexit: Early indications from the FTSE," European Economic Review, Elsevier, vol. 110(C), pages 1-17.
    8. Steinberg, Joseph B., 2019. "Brexit and the macroeconomic impact of trade policy uncertainty," Journal of International Economics, Elsevier, vol. 117(C), pages 175-195.
    9. Vincent Rebeyrol, 2023. "Protection Without Discrimination," The Economic Journal, Royal Economic Society, vol. 133(655), pages 2807-2827.
    10. Hatzigeorgiou, Andreas & Lodefalk, Magnus, 2016. "The Brexit Trade Disruption Revisited," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 17(1), pages 1-18.
    11. Samitas, Aristeidis & Polyzos, Stathis & Siriopoulos, Costas, 2018. "Brexit and financial stability: An agent-based simulation," Economic Modelling, Elsevier, vol. 69(C), pages 181-192.
    12. Amelia U. Santos‐Paulino & Alisa DiCaprio & Maria V. Sokolova, 2019. "The development trinity: How regional integration impacts growth, inequality and poverty," The World Economy, Wiley Blackwell, vol. 42(7), pages 1961-1993, July.
    13. Maxime Delabarre, 2021. "Interdependence Between States and Economies," Working Papers hal-03334550, HAL.
    14. Maxime Delabarre, 2021. "Interdependence Between States and Economies," SciencePo Working papers Main hal-03334550, HAL.
    15. Sae Won Chung & Yongmin Kim, 2019. "The Truth behind the Brexit Vote: Clearing away Illusion after Two Years of Confusion," Sustainability, MDPI, vol. 11(19), pages 1-16, September.
    16. Fernandes, Ana P. & Winters, L. Alan, 2021. "Exporters and shocks: The impact of the Brexit vote shock on bilateral exports to the UK," Journal of International Economics, Elsevier, vol. 131(C).
    17. Giovanni Maggi & Ralph Ossa, 2020. "Are Trade Agreements Good For You?," NBER Working Papers 27252, National Bureau of Economic Research, Inc.
    18. Ellalee, Haider & Alali, Walid Y., 2018. "FDI, Industrial Policy and Employment Impacts on Brexit," MPRA Paper 117507, University Library of Munich, Germany, revised 20 Oct 2018.
    19. Breinlich, Holger & Leromain, Elsa & Novy, Dennis & Sampson, Thomas, 2020. "Voting with their money: Brexit and outward investment by UK firms," European Economic Review, Elsevier, vol. 124(C).
    20. John Whalley, 2008. "Globalisation and Values," The World Economy, Wiley Blackwell, vol. 31(11), pages 1503-1524, November.

    More about this item

    Keywords

    Brexit; trade negotiations;

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:oxford:v:33:y:2017:i:suppl_1:p:s22-s30.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/oxrep .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.