{"title":"Has Brexit affected employment in Japanese affiliates in the UK?","authors":"Massimiliano Porto, Agata Wierzbowska","doi":"10.1111/ecaf.12608","DOIUrl":null,"url":null,"abstract":"<p>On 23 June 2016, a referendum was held in the United Kingdom (UK) to decide whether the country should leave or remain a member of the European Union (EU). The ‘Leave’ vote won by 52 per cent to 48 per cent of voters, leading to the EU–UK Withdrawal Agreement that came into force in 2020 and the Trade and Cooperation Agreement that came into force in 2021. Brexit is not exclusively a European matter; it affects third parties as well. In this article we examine the presence of Japanese affiliates in Europe during 2000–21 by analysing data obtained from the Toyo Keizai's Overseas Japanese Companies database. While the UK has been a major beneficiary of Japanese investments in Europe, its share of Japanese affiliates in Europe has decreased, especially during 2000–10. Brexit has had no negative impact on direct employment created by Japanese affiliates in the UK in the short term, but its impact in the long term could be exacerbated by any further policy divergence between the UK and the EU.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"43 3","pages":"314-339"},"PeriodicalIF":1.0000,"publicationDate":"2023-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"ECONOMIC AFFAIRS","FirstCategoryId":"91","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/ecaf.12608","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
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Abstract
On 23 June 2016, a referendum was held in the United Kingdom (UK) to decide whether the country should leave or remain a member of the European Union (EU). The ‘Leave’ vote won by 52 per cent to 48 per cent of voters, leading to the EU–UK Withdrawal Agreement that came into force in 2020 and the Trade and Cooperation Agreement that came into force in 2021. Brexit is not exclusively a European matter; it affects third parties as well. In this article we examine the presence of Japanese affiliates in Europe during 2000–21 by analysing data obtained from the Toyo Keizai's Overseas Japanese Companies database. While the UK has been a major beneficiary of Japanese investments in Europe, its share of Japanese affiliates in Europe has decreased, especially during 2000–10. Brexit has had no negative impact on direct employment created by Japanese affiliates in the UK in the short term, but its impact in the long term could be exacerbated by any further policy divergence between the UK and the EU.
期刊介绍：
Economic Affairs is a journal for those interested in the application of economic principles to practical affairs. It aims to stimulate debate on economic and social problems by asking its authors, while analysing complex issues, to make their analysis and conclusions accessible to a wide audience. Each issue has a theme on which the main articles focus, providing a succinct and up-to-date review of a particular field of applied economics. Themes in 2008 included: New Perspectives on the Economics and Politics of Ageing, Housing for the Poor: the Role of Government, The Economic Analysis of Institutions, and Healthcare: State Failure. Academics are also invited to submit additional articles on subjects related to the coverage of the journal. There is section of double blind refereed articles and a section for shorter pieces that are reviewed by our Editorial Board (Economic Viewpoints). Please contact the editor for full submission details for both sections.
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