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Open economy politics and Brexit: insights, puzzles, and ways forward

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  • Erica Owen
  • Stefanie Walter

Abstract

On 23 June 2016, a majority of 52% of British voters decided in a referendum that the United Kingdom should leave the European Union. The decision sent shockwaves around Britain, Europe, and the world: the ‘Brexit’-vote presents the first instance that a country has voted to exit a major supranational institution, putting both the European integration project and the future of the United Kingdom in a globalized world into question. At the time of writing, four months after the referendum vote, the contours of Brexit remain unclear. Yet even within this short time frame, Brexit politics have been remarkable on both the domestic and the international level. In this paper, we first present a brief overview of IPE research in the open economy politics (OEP) tradition. We then discuss the insights OEP provides that help us to better understand the referendum vote and Brexit politics, but also emphasize that they present a number of puzzles for OEP-inspired researchers. Based on this analysis, the final section suggests avenues for advancing the OEP research program.

Suggested Citation

  • Erica Owen & Stefanie Walter, 2017. "Open economy politics and Brexit: insights, puzzles, and ways forward," Review of International Political Economy, Taylor & Francis Journals, vol. 24(2), pages 179-202, March.
    • Handle: RePEc:taf:rripxx:v:24:y:2017:i:2:p:179-202
    DOI: 10.1080/09692290.2017.1307245
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    References listed on IDEAS

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    1. Pandya,Sonal S., 2014. "Trading Spaces," Cambridge Books, Cambridge University Press, number 9781107040342, October.
    2. Daniel W. Drezner, 2007. "Bringing the Great Powers Back In, from All Politics Is Global: Explaining International Regulatory Regimes," Introductory Chapters, in: All Politics Is Global: Explaining International Regulatory Regimes, Princeton University Press.
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    Cited by:

    1. John Ahlquist & Mark Copelovitch & Stefanie Walter, 2020. "The Political Consequences of External Economic Shocks: Evidence from Poland," American Journal of Political Science, John Wiley & Sons, vol. 64(4), pages 904-920, October.
    2. Felix Karstens, 2020. "How public discourse affects attitudes towards Freedom of Movement and Schengen," European Union Politics, , vol. 21(1), pages 43-63, March.
    3. Stefanie Walter, 2021. "EU‐27 Public Opinion on Brexit," Journal of Common Market Studies, Wiley Blackwell, vol. 59(3), pages 569-588, May.
    4. Martijn Huysmans & Sven Van Kerckhoven, 2023. "The Causes and Modes of European Disintegration," Politics and Governance, Cogitatio Press, vol. 11(3), pages 1-4.
    5. Dorn, David & Levell, Peter, 2021. "Trade and Inequality in Europe and the US," CEPR Discussion Papers 16780, C.E.P.R. Discussion Papers.
    6. Charlotte Grynberg & Stefanie Walter & Fabio Wasserfallen, 2020. "Expectations, vote choice and opinion stability since the 2016 Brexit referendum," European Union Politics, , vol. 21(2), pages 255-275, June.
    7. Ballard-Rosa, Cameron & Malik, Mashail & Rickard, Stephanie & Scheve, Kenneth, 2021. "The economic origins of authoritarian values: evidence from local trade shocks in the United Kingdom," LSE Research Online Documents on Economics 108664, London School of Economics and Political Science, LSE Library.
    8. John Kuk & Deborah Seligsohn & Jiakun Jack Zhang, 2022. "The partisan divide in U.S. congressional communications after the China shock," Economics and Politics, Wiley Blackwell, vol. 34(3), pages 494-526, July.
    9. Dirk De Bièvre & Arlo Poletti, 2020. "Towards Explaining Varying Degrees of Politicization of EU Trade Agreement Negotiations," Politics and Governance, Cogitatio Press, vol. 8(1), pages 243-253.

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