South Asia’s trade structure, trade potential, supply capacity, and global market access from 1991 to 2017 are examined through empirical research using trade indexes and gravity econometric estimation. The results broadly reflect a stagnant position of South Asia in the merchandised trade structure. South Asian economies have a comparative advantage in some sectors, which are
Economic integration, democratic capital, and the export of democracy voxeu.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from voxeu.org Daily Mail and Mail on Sunday newspapers.
Angus Armstrong, Francesco Caselli, Jagjit Chadha, Wouter den Haan
In 2014, Scotland voted against becoming independent. But the UK’s decision to leave the EU has reignited the debate over Scottish independence. A majority of Scottish voters backed remaining in the EU (Sobolewska and Ford 2020) and the Scottish National Party has pledged to use the 2021 Scottish Parliament elections to seek a mandate for a second referendum. Although there is no guarantee the UK government will agree to a new vote, recent opinion polls show a majority of Scots favour independence (
The Herald 2020).
In recent work, we analyse the economics of independence and how Brexit affects its costs and benefits (Huang et al. 2021). We seek to answer two main questions. First, how do the estimated effects of independence compare to the impact of Brexit on the Scottish economy? Second, would an independent Scotland be better off economically inside or outside the EU?