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


Owen, Erica; Walter, Stefanie (2017). Open economy politics and brexit : insights, puzzles, and ways forward. Review of International Political Economy, 24(2):179-202.

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.

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.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:06 Faculty of Arts > Institute of Political Science
Dewey Decimal Classification:320 Political science
Uncontrolled Keywords:Open economy politics, Brexit, referendum, international political economy, globalization, disintegration, politics of integration, microlevel preferences
Language:English
Date:2017
Deposited On:06 Dec 2017 17:51
Last Modified:19 Feb 2018 09:32
Publisher:Taylor & Francis
ISSN:0969-2290
OA Status:Closed
Publisher DOI:https://doi.org/10.1080/09692290.2017.1307245
Official URL:http://www.tandfonline.com/doi/abs/10.1080/09692290.2017.1307245#aHR0cDovL3d3dy50YW5kZm9ubGluZS5jb20vZG9pL3BkZi8xMC4xMDgwLzA5NjkyMjkwLjIwMTcuMTMwNzI0NUBAQDA=

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