- The first paper in a new GLOBE Centre Policy Brief Series is published today.
- Each paper in this new series will apply current research undertaken by members of the Centre for Law, Regulation and Governance of the Global Economy (GLOBE) at Warwick Law School to issues of public interest and contemporary concern.
- The aim of the series, edited by Dr Andreas Kokkinis, is to improve the factual base on which policy decisions are made.
- The series will share cutting-edge academic research in an accessible and relevant manner with policymakers, the media, civil society groups and the general public.
The first in a new series of briefs bringing current legal thinking to bear on public policy issues has been published today by GLOBE, a research centre within the University of Warwick’s Law School.
Brexit: Preserving the UK's Future Success as a Service Economy by Dr Andreas Kokkinis, Assistant Professor at Warwick Law School, explores the regulatory impact of the UK’s withdrawal from the European Union on the UK’s services sector and contains recommendations on policy options for Brexit negotiations and beyond.
In the paper, Dr Kokkinis identifies four key ways in which the UK’s financial services sector has benefitted from EU membership. These are:
- dominance of the London Stock Exchange, thanks to the passporting of prospectuses
- “vibrant” exports of financial and other services to the EU, possible because regulatory rules and supervision by national authorities are harmonised across the EU
- reciprocal corporate expansion, and
- the popularity of English legal structures for EU entrepreneurs.
He comments: “These benefits have been possible thanks to a large-scale programme of harmonising national laws in areas such as financial regulation, securities regulation, corporate law and conflict of laws.
“All these benefits rest on continued full access to the Single Market after Brexit. If Brexit results in the UK losing full access to the Single Market, financial transactions, business activity, and investment will be seriously affected.”
Dr Kokkinis concludes that full access to the Single Market through membership of the European Economic Area is the best way to ensure the continued success of the UK economy as a sophisticated export-oriented service economy.
GLOBE Centre Director, Dr Celine Tan, Associate Professor at Warwick Law School said: “We wanted to have a way of communicating our research in a way that matters for people who are making decisions and confronting the challenges facing us as a society, both locally, nationally and internationally.
“We hope this series will offer the opportunity to share our research with policymakers, advocates, the media and the public at large.”
GLOBE intends to publish around four papers a year on topical issues. The next paper will be by Dr Ben Farrand and will explore what the different proposed models of future EU-UK relationship may mean for the UK’s intellectual property laws, policies, and ability to influence European and international norms in this field.
The policy briefs will be published electronically and will be made available online. There will also be a limited print run of each policy brief in the series.
8 February 2018
The Centre for Law, Regulation and Governance of the Global Economy (GLOBE) at Warwick Law School, created in 2014, is a research and public engagement centre that brings together staff and postgraduate students working in international economic law, business and commercial law, corporate governance and financial regulation.