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Brexit will have implications on financial stability and the implementation of macroprudential policies. The United Kingdom (UK) will no longer be subject to the jurisdiction of the European Systemic Risk Board. This paper studies the welfare implications of this change of regime. By means of a dynamic stochastic general equilibrium model, I compare the pre‐Brexit scenario with the new one, in which the UK sets macroprudential policy independently. I find that, after Brexit, the UK is better off by setting its own macroprudential policy without taking into account Europe's welfare as a whole. [ABSTRACT FROM AUTHOR]

In this paper we present the importance of detailing the contextual conditions of a qualitative study to highlight any potential participant-researcher tensions. We emphasize the importance of understanding context in rich detail to expose societal complexities while maintaining positive participant-research rapport. Through two cases, this paper considers that bracketing, reflexivity, and transparency can be applied to form appropriate strategies to deal with external disruptions to qualitative fieldwork. The cases draw on Brexit's impact on two studies conducted in the United Kingdom. In so doing, we argue that time, relevance, and the individuals involved can coalesce to express varied influences on a study. Thus, bracketing, reflexivity and transparency become vital to dealing with such influences; particularly when they are disruptive to a study. Overall, the strategic approach outlined by this paper can be used to maximise awareness of potential sources of tension in the field and to deal with any tensions that do arise. [ABSTRACT FROM AUTHOR]

The aim of this paper is to investigate the impact of Brexit on the dependence between European financial markets. We use the Diebold and Yilmaz (2009, 2012) approach to better map the relationship between the three main European markets and we propose an Optimal portfolio weighting to gain insights into the portfolio design dynamics in the period between 2013 and 2019, in particular any changes due to uncertainty surrounding Brexit. First, the findings show that between September 2015 and September 2016, the high level of volatility and spillover confirms the strong degree of market integration, with uncertainty surrounding the referendum outcome having a clear impact on the three main European markets. Second, the direction of spillover in the pre-Brexit period was from the UK market to the French and German markets in anticipation of uncertainty regarding the outcome of the referendum and the period immediately following it. Third, only the conditional correlation between the pair (CAC40–FTSE100) is characterized by an asymmetric effect. [ABSTRACT FROM AUTHOR]

Brexit raises a whole range of legal issues in multiple areas. The consequences on the EU framework for jurisdiction, recognition and enforcement of judgments are of particular interest for private parties involved in cross-border commercial agreements. This paper explores the legal basis for the jurisdiction of courts and the enforcement and recognition of judgments between the UK and EU-27 courts after Brexit. In addition, it broadly contrasts the main differences of the proposed solutions compared to the EU system. The paper argues that international conventions can provide answers to some of the questions as they set out rules for the jurisdiction, enforcement and recognition of judgments. However, there are factors that can have an impact on possible legal outcomes, such as the framework of the future deal between the UK and the EU-27, the moment of the commencement of proceedings by the parties in the transition period, or the fact that the parties did not opt for exclusive jurisdiction in their agreements. The Withdrawal Agreement provides for some clarity on which EU law provisions apply during the transition period. In addition, the EC Notices and the UK Brexit legislation provide for guidelines as to the rules applicable in and immediately after the transition period. Nevertheless, as the paper analyses, there is still a need for further clarification. Therefore, other methods of dispute resolution proposed in the article such as moving to arbitration instead of English court jurisdiction could provide legal certainty for private parties. [ABSTRACT FROM AUTHOR]

This paper examines the resilience of British cities to major economic shocks. Using a novel data set for 85 cities, it analyses their resistance to and recovery from the last four major recessions, over the period 1971 to 2015. It reveals a distinct shift in the relation between resistance and recovery between these shocks, as well as major differences between northern and southern cities. Some possible factors shaping these patterns are explored, and tentative estimates of the likely impact of the Brexit shock (Britain's withdrawal from the European Union) are also provided. A key implication is that differences in resilience to major shocks can contribute to the long‐run growth paths of cities. [ABSTRACT FROM AUTHOR]

Background: There is an extensive body of research demonstrating that trade and globalisation can have wide-ranging implications for health. Robust governance is key to ensuring that health, social justice and sustainability are key considerations within trade policy, and that health risks from trade are effectively mitigated and benefits are maximised. The UK's departure from the EU provides a rare opportunity to examine a context where trade governance arrangements are being created anew, and to explore the consequences of governance choices and structures for health and social justice. Despite its importance to public health, there has been no systematic analysis of the implications of UK trade policy governance. We therefore conducted an analysis of the governance of the UK's trade policy from a public health and social justice perspective.Results: Several arrangements required for good governance appear to have been implemented - information provision, public consultation, accountability to Parliament, and strengthening of civil service capacity. However, our detailed analyses of these pillars of governance identified significant weaknesses in each of these areas.Conclusion: The establishment of a new trade policy agenda calls for robust systems of governance. However, our analysis demonstrates that, despite decades of mounting evidence on the health and equity impacts of trade and the importance of strong systems of governance, the UK government has largely ignored this evidence and failed to galvanise the opportunity to include public health and equity considerations and strengthen democratic involvement in trade policy. This underscores the point that the evidence alone will not guarantee that health and justice are prioritised. Rather, we need strong systems of governance everywhere that can help seize the health benefits of international trade and minimise its detrimental impacts. A failure to strengthen governance risks poor policy design and implementation, with unintended and inequitable distribution of harms, and 'on-paper' commitments to health, social justice, and democracy unfulfilled in practice. Although the detailed findings relate to the situation in the UK, the issues raised are, we believe, of wider relevance for those with an interest of governing for health in the area of international trade. [ABSTRACT FROM AUTHOR]

In 2003 the Commission on European Contract Law (hereinafter: CECL) published the Principles of European Contract Law Part III (hereinafter: PECL III) which contained the provisions on EU set-off (hereinafter: EU model law of set-off). These are soft law provisions whose text was the result of the work of the most prominent academics from EU Member States. Considering that the Germanic, Romanic, and English set-off models coexist on the territory of the EU, the EU model law of set-off represents a reconciliation of the different private law traditions and models of set-off. During the 25 years since the adoption of the EU model law of set-off, several significant changes have occurred in the EU, which relate to its set-off law directly and indirectly. The most significant change is certainly the issue of Brexit and the possibility of Great Britain leaving the EU. Furthermore, it is important to note that automatic set-off was abandoned in France, which means it has replaced the Romanic set-off model with the German model. This paper starts with the context in which the European set-off rules were adopted. Then, the author identifies the nomotechnical and practical deficiencies in the EU model law of set-off in the context of the changed circumstances in the EU. The final part of the paper presents propositions for the change of the existing EU model law of set-off, which would help overcome the identified deficiencies and gaps. Consideration is also given to the question of whether, after Brexit and the change in the French set-off rules, the provisions of the EU model law of set-off which were influenced by English and French set-off laws should be removed. [ABSTRACT FROM AUTHOR]

Introduction: The UK Pharmaceutical Industry is arguably one of the most important industries to consider in the negotiations following the Brexit vote. Providing tens of thousands of jobs and billions in tax revenue and research investment, the importance of this industry cannot be understated. At stake is the global leadership in the sector, which produces some of the field's most influential basic science and translation work. However, interruptions and losses may occur at multiple levels, affecting patients, researchers, universities, companies and government. Goals: By understanding the current state of pharmaceutical sector, the potential effect of leaving the European Union (EU) on this successful industry can be better understood. This paper aims to address the priorities for negotiations by collating the analyses of professionals in the field, leading companies and non-EU member states. Research methods: A government healthcare policy advisor and Chief Science Officer (CSO) for a major pharmaceutical firm were consulted to scope the paper. In these discussions, five key areas were identified: contribution, legislative processes, regulatory processes, research and outcomes, commercial risk. Multiple search engines were utilised for selecting relevant material, predominantly PubMed and Google Scholar. To supplement this information, Government documents were located using the "GOV.UK" publications tool, and interviews and commentaries were found through the Google News search function. Conclusion: With thorough investigation of the literature, we propose four foundations in the advancement of negotiations. These prioritise: negotiation of 'associated country' status, bilaterally favourable trade agreements, minimal interruption to regulatory bodies and special protection for the movement of workforce in the life sciences industry. [ABSTRACT FROM AUTHOR]

On 25 March 2017, the European Union celebrated the 60th anniversary of the Treaties of Rome, which established 'an ever-closer union' as a fundamental principle for European regional integration. Only four days later, the United Kingdom delivered an official letter triggering its withdrawal process from the Community. How could we comprehend Brexit integrative and disintegrative dynamics to the EU? The UK's decision to leave the EU alongside recent crises in the Community and the spread of Eurosceptic movements fostered studies about disintegration dynamics. This article presents the current debate about differentiated (dis)integration based on up-to-date related literature. Next, it proposes a framework to assess the recent shifts in the UK-EU relationship and its contradictory effects on the EU project. The main argument of the paper is that the UK's relationship with the European Union moved from an internal differentiated integration to a proposal of internal differentiated disintegration and, thereafter, to a process of external differentiated disintegration. Moreover, although Brexit means disintegration by one Member State, its effects on the EU project are mixed, initially promoting an integrative boom among the EU27 members, while at the same time neglecting disintegrating forces that could undermine the traditional European integration model. [ABSTRACT FROM AUTHOR]

This paper focuses on an analysis of the sovereignty of two territorial entities that have unique relations with the United Kingdom: the Crown Dependencies and the British Overseas Territories (BOTs). Each of these entities includes very different territories, with different legal statuses and varying forms of self-administration and constitutional linkages with the UK. However, they also share similarities and challenges that enable an analysis of these territories as a complete set. The incomplete sovereignty of the Crown Dependencies and BOTs has entailed that all these territories (except Gibraltar) have not been allowed to participate in the 2016 Brexit referendum or in the withdrawal negotiations with the EU. Moreover, it is reasonable to assume that Brexit is not an exceptional situation. In the future there will be more and more relevant international issues for these territories which will remain outside of their direct control, but will have a direct impact on them. Thus, if no adjustments are made to their statuses, these territories will have to keep trusting that the UK will be able to represent their interests at the same level as its own interests. [ABSTRACT FROM AUTHOR]

The present paper outlines a functionalist approach to the complex "Brexit" phenomenon, exploring those opportunities that can be derived of it for third countries, unaware of the upheaval European scenario, as could be the case of India. In pro-Brexit approaches, The Indian Union appears as one of the most important countries of the Anglosphere area, particularly significant for a future focus of the brand-new "Global UK", a relevant global partner in economic, trade & investment aspects. Due to the denominated "Intra-Industry Trade" (IIT), instrumented over the Global Value Chains (GVCs), which possibly constitutes one of the fundamental explanatory elements of the Global World, we have proposed an analysis of the UK-India relations from the IIT & GVCs perspective. Therefore, in our work, we do an analysis of the evolution, situation and perspectives of this kind of trade, especially for its three main sectors: Apparel & Footwear, Electronics and Transport Vehicles. [ABSTRACT FROM AUTHOR]

As EU citizens and a 'middling' migrant group in the UK, Finns have been able to exercise a relatively limitless existence in Britain. However, this freedom became threatened after the Brexit referendum. Through a digital ethnographic approach, this paper shows that the result of the Brexit referendum turned Finns' translocal placemaking in the UK from being practiced by social bodies to being negotiated by political bodies and contributes to literature about translocal placemaking as receptive to disruptions. The referendum disrupted Finns' translocal place-making processes on personal and societal levels, cutting through both active, embodied processes in the UK and virtual, imagined processes in Finland. The referendum imposed newly experienced otherness and conditionality to the ability to participate in the British society. It did, however, also create translocal attachments towards both the UK and Finland. Through its disruptive nature, the event of the Brexit vote embedded itself in the future place-making orientations and narratives of the Finns in the UK, potentially having an impact on their future translocal trajectories and imaginaries. [ABSTRACT FROM AUTHOR]

Simple Summary: Fur farming has become increasingly controversial in the western world. Fur-farmed species such as mink contracting and transmitting COVID-19 have put a further spotlight on the industry. The United Kingdom (UK) and other nations have banned fur farming due to welfare concerns. Despite this, due to European Union (EU) membership, the UK has continued to import and sell fur from two million animals each year. The UK left the EU in 2020 and the British government is now considering a ban on the import and sale of fur. This paper reviews public polls on British attitudes to the fur industry conducted between 1997 and 2021. The polls reveal consistently high majority opposition to the fur industry. The paper then reports the results of a new questionnaire to explore in further depth the views of UK residents on the fur industry and attitudes to a ban. A large majority (86%) believed fur-farmed animals do not experience a good life. A similar majority (83%) believed it was unacceptable for the UK government to ban fur farming and continue to import and sell fur from producers overseas. Over three quarters (78%) supported a legal ban on the import and sale of fur in the UK. Around 100 million animals are killed annually for the global fur trade, with 85% reared on fur farms and 15% trapped in the wild. Fur farming is banned across the United Kingdom (UK) under the Fur Farming (Prohibition) Act 2000 in England and Wales and parallel legislation in Scotland and Northern Ireland. Despite the farming bans, the import and sale of fur products to the UK have continued, largely due to European Union (EU) membership. The UK left the EU in 2020 and the British government is exploring a potential ban on the import and sale of fur post-Brexit. This paper reviews public surveys on attitudes to fur farming in the UK from 1997 to 2021. It then reports the results of an online questionnaire to investigate in greater depth the beliefs of UK residents (n = 326) about the welfare of animals used in fur production, knowledge of the legal context of the fur trade and attitudes toward a ban on the import and sale of fur in the UK. A large majority (86%) of respondents believed that fur-farmed animals do not experience a good life. Over four-fifths (83%) disagreed that it is morally acceptable for the UK government to ban fur farming and yet continue to import and sell fur from producers overseas, with over three-quarters (78%) supporting a legal ban on the import and sale of fur in the UK. [ABSTRACT FROM AUTHOR]

This paper articulates the potential implications of Brexit on energy policy and security in the United Kingdom (UK). Given the uncertainties associated with the decision to leave the European Union (EU), the need to consider its potential effects on the UK's energy sector becomes even more pertinent. Through the lens of a few widely reviewed trade regimes in the light of Brexit, it can be observed that while UK energy policies are unlikely to change drastically, Brexit nevertheless threatens the UK's capacity to safeguard its energy supply. The uncertainties following Brexit could arguably starve the UK's upstream petroleum, electricity, and renewable energy sectors of their required investments. Both short and long-term impacts could result in UK residents paying more per unit of energy consumed in a "hard Brexit" scenario, where the UK exits the Internal Energy Market (IEM) and must trade with the EU underWorld Trade Organisation rules. While a hard Brexit could aid the growth of the nascent shale gas industry, a negotiated withdrawal that includes some form of access to the IEM (a "soft Brexit") would be more beneficial for the future of energy security in the UK. [ABSTRACT FROM AUTHOR]

This paper analyzed some of the reasons why Britain participated only half-way in the European Union and ended up voting for Bremen on 23 June 2016. It also examines the options open to the European Union and Great Britain. Europe must show that it can work by showing results. In Britain it is necessary to break the established molds of thought and reshape the structure of political parties. [ABSTRACT FROM AUTHOR]

The strategic management literature has recognized the role of social and environmental activities in supporting a firm's economic well-being. Although some research has explored the role of social and environmental practices during uncertain periods, studies are still scarce. This paper contributes to this issue by studying corporate social responsibility (CSR) representation during environmental jolts. Through a multi-level analysis, we investigate the conceptualization of CSR in the context of Brexit. From a macro-level perspective, we explore CSR representation in the public discourse by looking at the output of economic journalists. Additionally, based on a micro-level analysis, we examine the CSR disclosure policies of firms and evaluate them in the context of an uncertain environment. Based on a sample of more than 1500 press release data from major UK-based business publications and more than 1000 shareholder letters from companies listed on three major European indices, the DAX 30, CAC 40, and FTSE 100, the text analysis techniques of topic modeling and 'bags of words' are used. The findings show that an unprecedented exogenous shock such as Brexit increases CSR representation in the public discourse and corporate communication strategies, suggesting the greater importance of CSR disclosure during uncertain periods. In addition evidence is shown that organizations target and adapt shareholder communication on CSR in accordance with market uncertainty. [ABSTRACT FROM AUTHOR]

Simple Summary: The British people voted in 2016 to leave the European Union (EU). The UK has a unique history as a leader in animal protection policy. It has a relatively large economy and significant political power on a global basis. Brexit presents both threats and opportunities to animal protection in the United Kingdom (UK), EU, and internationally. This paper assesses the opportunities Brexit presents for animal protection in terms of five criteria. These are first, the political situation; second, regulatory changes; third, economic and trade factors; fourth, institutional considerations; and fifth, EU and international impacts. Brexit provides the opportunity to reform UK farming to promote high animal welfare outside of the EU Common Agricultural Policy (CAP). Brexit means the UK can ban live animal exports and the import and sale of fur products and foie gras outside of the EU. Leaving the EU permits the UK to have stricter requirements for the Pet Travel Scheme (PETS) to control puppy smuggling. Brexit provides an opportunity for the UK Government to reform policy-making for sentient animals. New sentience legislation could establish a fully independent UK Animal Welfare Advisory body and mandate Government to use animal welfare impact assessments on all policy that affects sentient species. Despite such opportunities, the UK Government appears uncommitted to major reforms. The drafting of the Agriculture Bill does not suggest a progressive animal welfare agenda. For live exports, the Government will consult on how to improve welfare, rather than outright prohibition. Similarly, rather than ban the import and sale of fur, the Government will use its influence to improve the welfare of fur-farmed animals outside the UK. Brexit provides some opportunities for animal protection. Pre-Brexit, the Government has not demonstrated the political will and commitment to realise these opportunities. The British people voted in a 2016 referendum to leave the European Union (EU). Brexit presents threats and opportunities to animal protection in the United Kingdom (UK), the EU, and internationally. This paper discusses opportunities for animal protection in terms of five criteria. These are first, political context; second, regulatory changes; third, economic and trade factors; fourth, institutional- and capacity-related factors; and fifth, EU and international considerations. Brexit permits reform of UK agricultural policy outside of the Common Agricultural Policy (CAP) to reward high welfare as a public good. The Agriculture Bill, however, does not suggest a radical reform agenda for animal welfare. Brexit permits a ban on live exports, but the UK Government is consulting on improving welfare, not prohibition. Brexit provides an opportunity to ban the import and sale of fur, but the UK Government has signalled it will work to improve welfare in fur farming. Brexit permits the UK to prohibit the import and sale of foie gras, but the Government has stated a ban may be challenged at the World Trade Organisation (WTO). Brexit allows more stringent Pet Travel Scheme (PETS) requirements to reduce puppy smuggling. Lucy's Law and stricter enforcement will also mitigate the problem. New sentience legislation provides the opportunity for a fully independent and properly constituted UK Animal Welfare Advisory body conducting animal welfare impact assessments and ethical appraisal. The Government has proposed sentience legislation but there is a major risk it will not be in place before the UK leaves the EU. The Government has expanded the remit of the Farm Animal Welfare Committee, which is not fully independent and is dominated by veterinary members and agricultural interests. Brexit provides some opportunities for animal protection with radical reform of agricultural policy, prohibition of live exports, and banning the import and sale of fur and foie gras. Pre-Brexit, the Government has not demonstrated the political will and commitment to realise these opportunities. [ABSTRACT FROM AUTHOR]

Simple Summary: Many animal welfare laws, including those regulating animals used in scientific procedures, have been impacted by the EU. The Animals (Scientific Procedures) Act 1986 (ASPA) is the main legislation in the UK governing animals used in scientific procedures and was amended with the introduction of Directive 2010/63/EU. Though in some ways it seemed that the Directive would improve the welfare of animals in scientific procedures, this may have not been the case. In light of Brexit, the UK faces challenges in maintaining the protection for these animals, particularly with no longer having access to REACH and the risk of duplicate experiments. There are also, however, opportunities to increase the protection already established and build upon the UK's reputation of being a leader in animal welfare. This includes more transparency of experiments carried out, utilizing more non-animal methodologies and ending severe suffering. This article will explore the potential implications of Brexit on the welfare of animals used in experiments, focusing on legislation surrounding their welfare and protection. It will also suggest ways in which this protection can be progressed, with potentially more freedom to amend or introduce legislation to do so. The UK has long been hailed as one of the world leaders in animal welfare. Within the UK, animals used in experiments are provided some protection under the Animals (Scientific Procedures) Act 1986 (ASPA). This Act was impacted by European Union (EU) Directive 2010/63/EU, and subsequently the ASPA was updated to reflect any changes required. While the Directive is very similar to the protection the UK already afforded to animals used in experiments, there were some advances that the Directive provided that were not present in the ASPA. On paper, the changes introduced were promising but may not have been achieved in practice. In 2016, the British public voted to leave the EU, which presented concerns over animal welfare protection and legislation provided by EU law. With the completion of Brexit, there may be an opportunity to diverge from the Directive to advance protection for animals used in experiments. This article explores the influence that the EU has had on animal experimentation in the UK, the potential implications of Brexit on the welfare of animals used in experiments and suggests ways in which this protection can be progressed, with potentially more freedom to amend or introduce legislation to do so. [ABSTRACT FROM AUTHOR]

Simple Summary: The British people voted in a 2016 referendum to leave the European Union and the United Kingdom (UK) is set to leave the EU in 2019. Brexit is a major political change and it presents both threats and opportunities for animal protection. This paper assesses the threats that Brexit poses to animal protection in terms of five criteria. These are first, the political situation; second, regulatory changes; third, economic and trade factors; fourth, institutional considerations; and fifth, EU and international impacts. The EU has the most progressive animal welfare laws in the world. The UK Conservative Government, which is delivering Brexit, has a mixed record on animal protection. Brexit is forecast to have a negative impact on the UK economy, which is likely to negatively affect animal welfare. A major threat of Brexit is the import of meat and dairy products to the UK raised in lower welfare standards from nations such as the United States (US). The development of Brexit policy suggests there is a significant risk that this threat will materialise. Furthermore, Brexit will result in a reduced political lobby within the EU for progressive animal protection reform. Despite the UK being a progressive animal protection nation, she will have less power to exert this influence to improve animal welfare outside of the EU. Brexit poses substantial risks to weaken animal protection in the UK, EU and internationally. Further research is needed to assess the opportunities presented by Brexit to judge whether Brexit will be overall positive or negative for animal protection. The British people voted in a 2016 referendum to leave the European Union (EU). Brexit presents both threats and opportunities to animal protection in the United Kingdom (UK), EU and internationally. This paper discusses threats to animal protection in terms of five criteria. These are first, political context; second, regulatory changes; third, economic and trade factors; fourth, institutional and capacity-related factors; and fifth, EU and international considerations. The EU has the most progressive animal welfare laws in the world. The Conservative Government delivering Brexit has a mixed record on animal protection. Major time and resource constraints inherent in Brexit risk negatively impacting animal protection. Brexit is projected to have a negative economic impact, which is generally associated with lower animal welfare standards. The development of Brexit policy suggests there to be a substantial risk that the major threat of importing lower welfare products to the UK will materialise. Brexit will reduce the political influence of the progressive animal protection lobby in the EU. Post-Brexit, the politically and economically weakened EU and UK risks a detrimental impact on animal protection on an international scale. Brexit poses substantial threats to animal protection, with a high risk that many threats will materialise. Further research is needed to assess the opportunities presented by Brexit to judge whether Brexit will be overall positive or negative for animal protection. [ABSTRACT FROM AUTHOR]