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Brexit and systemic risk

Author

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  • Danielsson, Jon
  • Macrae, Robert
  • Micheler, Eva

Abstract

Brexit is likely to cause considerable disruption for financial markets. Some worry that it may also increase systemic risk. This column revisits the debate and argues that an increase in systemic risk is unlikely. While legal ‘plumbing’ and institutional and regulatory equivalence are of concern, systemic risk is more likely to fall due to increased financial fragmentation and caution by market participants in the face of uncertainty.

Suggested Citation

  • Danielsson, Jon & Macrae, Robert & Micheler, Eva, 2017. "Brexit and systemic risk," LSE Research Online Documents on Economics 85124, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:85124
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    File URL: http://eprints.lse.ac.uk/85124/
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    Cited by:

    1. Andrei HREBENCIUC, 2017. "The costs of Brexit for UK economy," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(611), S), pages 319-327, Summer.

    More about this item

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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