The purpose of this paper is to review the economic studies on Brexit, highlighting that they have focused mainly on its negative impact on trade. The economic intuition behind these outcomes is provided, explaining why they are asymmetric with the UK being much more harmed than EU-27.,The importance of foreign multinationals in the UK and of UK’s multinationals abroad is shown using a non-standard quantification, which may be preferable than conventional methodologies. In addition, EU trade and investment legislative regimes are explained. Particular attention is paid to the change after the 2009 Lisbon Treaty which transfers foreign investment to the exclusive competence of the EU as opposed to EU states.,The data show that EU-27 is a much less important investment than trade partner for UK.,Although modelling the economy-wide impact of multinationals is challenging, the data and EU legislative framework analyzed suggest it is very much worthwhile. Other considerations about UK’s diminished leveraging power to negotiate after its EU’s withdrawal are also considered.

中文翻译：

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跨国公司的影响：英国脱欧几乎未开发的方面

本文的目的是回顾有关英国退欧的经济研究，强调它们主要集中在其对贸易的负面影响上。提供了这些结果背后的经济直觉，解释了为什么它们不对称，因为英国受到的伤害要比欧盟27国大得多。使用非标准量化方法可以看出英国的外国跨国公司和英国的跨国公司的重要性。可能比常规方法更可取。此外，还解释了欧盟贸易和投资立法制度。特别要注意的是2009年《里斯本条约》之后的变化，该条约将外国投资转移到欧盟而不是欧盟国家的专有权限。数据显示，欧盟27国的投资远不如英国的贸易伙伴重要。尽管对跨国公司对整个经济的影响进行建模具有挑战性，但数据和所分析的欧盟立法框架表明，这非常有价值。还考虑了有关英国退出欧盟后英国进行谈判的杠杆作用能力减弱的其他考虑。