Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/238460 
Authors: 
Year of Publication: 
2020
Series/Report no.: 
ADBI Working Paper Series No. 1103
Publisher: 
Asian Development Bank Institute (ADBI), Tokyo
Abstract: 
The European Union (EU) is one of the most successful integration arrangements in the world. However, the disintegration in Europe through Brexit is puzzling. This article aims to clarify this dilemma by addressing the following questions: Was the former French President, de Gaulle, right that the United Kingdom (UK) did not fit in the EU? Is it that the UK government failed to redistribute the gains from EU membership equitably to the Britons who voted for Brexit? Is Brexit happening due to a deceptive campaign? Or was it just the sovereignty that Britons do not want to sacrifice no matter what economic costs they face? This paper aims to clarify why Brexit happened and what lessons can be learned from Brexit for other integration arrangements around the world - especially in Asia. This paper argues that Brexit reminds us of the limitations of regional integration. It strongly advises policy makers to be cautious in expanding too far and too fast and suggests paying proper attention to educating citizens about the costs and benefits of regional integration.
Subjects: 
Brexit
European Union
economic integration
Asia
JEL: 
F15
F1
D31
R5
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.