scholarly journals The impact of Brexit on London’s entrepreneurial ecosystem: The case of the FinTech industry

2020 ◽  
Vol 52 (8) ◽  
pp. 1539-1559
Author(s):  
Franziska Sohns ◽  
Dariusz Wójcik

This paper analyses how different entrepreneurial actors respond to political uncertainty and changing institutional settings. Moreover, it discusses the impact of those actor-level responses on the resilience of entrepreneurial ecosystems (EEs), focusing on how they affect the diversity of and the connectivity among its actors. To address these questions, the paper examines how the decision of the United Kingdom to leave the European Union has influenced the financial technology (FinTech) industry in London, applying data collected from in-depth interviews, covering different groups of stakeholders in London’s FinTech industry, such as angel investors, banks, legal advisers, lobby organizations and private companies. Our results show that political uncertainty and the prospect of institutional change can trigger actor-level responses, which have the potential to modify the diversity as well as the local and non-local connectivity of an EE. Moreover, we demonstrate that the nature of strategic responses of entrepreneurial actors varies significantly, depending on their firms’ characteristics, such as age, size, product specialization and the structure of their egocentric networks. With regard to the latter, our results show that anchor firms play an important role in other firms’ egocentric networks and have the power to shape their strategic responses.

2018 ◽  
Vol 18 (2) ◽  
pp. 134-151
Author(s):  
Andrea Circolo ◽  
Ondrej Hamuľák

Abstract The paper focuses on the very topical issue of conclusion of the membership of the State, namely the United Kingdom, in European integration structures. The ques­tion of termination of membership in European Communities and European Union has not been tackled for a long time in the sources of European law. With the adop­tion of the Treaty of Lisbon (2009), the institute of 'unilateral' withdrawal was intro­duced. It´s worth to say that exit clause was intended as symbolic in its nature, in fact underlining the status of Member States as sovereign entities. That is why this institute is very general and the legal regulation of the exercise of withdrawal contains many gaps. One of them is a question of absolute or relative nature of exiting from integration structures. Today’s “exit clause” (Art. 50 of Treaty on European Union) regulates only the termination of membership in the European Union and is silent on the impact of such a step on membership in the European Atomic Energy Community. The presented paper offers an analysis of different variations of the interpretation and solution of the problem. It´s based on the independent solution thesis and therefore rejects an automa­tism approach. The paper and topic is important and original especially because in the multitude of scholarly writings devoted to Brexit questions, vast majority of them deals with institutional questions, the interpretation of Art. 50 of Treaty on European Union; the constitutional matters at national UK level; future relation between EU and UK and political bargaining behind such as all that. The question of impact on withdrawal on Euratom membership is somehow underrepresented. Present paper attempts to fill this gap and accelerate the scholarly debate on this matter globally, because all consequences of Brexit already have and will definitely give rise to more world-wide effects.


2019 ◽  
Vol 55 (3) ◽  
pp. 230-249
Author(s):  
Andrzej Żurawski

Abstract This article explores Bruno Amable’s Diversity of Capitalism approach to analyze educational systems in the European Union (EU28). The main goal is to identify the main clusters of educational systems with regard to their institutional characteristics. Second goal of the analysis is to evaluate the impact of several EU policies and initiatives on the institutional structure of European educational systems. This article identified six clusters in terms of general education and five clusters in terms of higher education systems. The clustering shows, that – with some exceptions (notably the United Kingdom and Ireland) – European education systems have similar structure to other institutional areas, in particular, it confirms the existence of post-communist (in terms of Farkas) or patchwork (in terms of Rapacki et al.) capitalism. The article shows, as well, that subsystem of higher education is much less diverse, what may have a significance for future discussions on the capitalisms in the EU. Results suggests also that there exist significant differences in performance between the clusters, something that may have a crucial importance for an educational policy.


Author(s):  
Kristina Salibová

My contribution deals with the issue concerning the question arising on the applicable law in and after the transition period set in the Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community. The aim of this contribution is to analyze how the English and European laws simultaneously influence one another. This analyzation will lead to the prognosis of the impact Brexit will have on the applicable English law before English courts and the courts of the states of the European Union. The main key question is the role of lex fori in English law. Will English law tend to return to common law rules post-Brexit, and prefer the lex fori?


Author(s):  
Paul Craig

This chapter draws on the six dimensions of public law covered in the book: theory, institutions and accountability, constitutions and rights, process and procedure, legislation, and case law. It links discussion of these dimensions, by considering how they have been affected by Brexit. The chapter is not concerned with the contending arguments for leaving or remaining in the European Union. The focus is on the way in which Brexit has ‘pressure-tested’ the public law regime in the United Kingdom and the European Union. The six dimensions of public law that are discussed in the preceding chapters form the architectural frame through which the impact of Brexit on the public law regimes is assessed in both the United Kingdom and the European Union.


2018 ◽  
pp. 85-107 ◽  
Author(s):  
Geranda Notten ◽  
Anne-Catherine Guio

In 2010, the European Union (EU) committed to lifting at least 20 million people out of poverty and social exclusion, using income poverty, severe material deprivation, and (quasi-)joblessness as metrics to measure progress on this goal. As part of a broader set of commonly agreed indicators, the EU also (crudely) measures the impact of transfers by comparing income poverty rates before and after social transfers. This chapter develops a regression approach to study the effects of transfers on material deprivation by predicting the material deprivation rate before social transfers. We apply the method to pre-recession and post-austerity EU-SILC data for Germany, Greece, Poland, and the United Kingdom. We find that, in addition to reducing income poverty, transfers substantially reduce the extent and depth of material deprivation. Changes in social transfers, therefore, have a twofold effect on Europe’s poverty-reduction target.


Author(s):  
Catherine E. De Vries ◽  
Sara B. Hobolt ◽  
Sven-Oliver Proksch ◽  
Jonathan B. Slapin

This chapter explores recent changes in European politics and looks to the future for European democracy as it stands now. The chapter explores the ongoing political change that can be seen within European countries and also at the European Union (EU) level. It aims to highlight four important debates about the state of democracy in Europe. These are: the debates about the rise of political fragmentation and its consequences for democracy; democratic backsliding in central and eastern Europe; the impact of the United Kingdom leaving the EU on democracy; and the democratic deficit in EU politics.


2015 ◽  
Vol 10 (3) ◽  
pp. 147-157 ◽  
Author(s):  
Christian Năsulea ◽  
Beatrice Nicolle Crețu ◽  
Diana Florentina Spînu

Abstract Although new sanctions have been imposed, to varying degrees, on Russia since the debut of the Crimean crisis, few experts are taking the chance of publishing an assessment of the impact these sanctions will have on Russia or the European Union. On one hand, the complexity of the variables involved makes it extremely difficult to predict the outcome of said sanctions; on the other hand, an accurate assessment would make an invaluable tool in the hands of decision makers, no matter if their decisions are made with regards to foreign policy, public policy or the daily business of private companies. This article sets out to examine the context, some of the variables involved and some of the forecasts that have been put forward by various experts, while trying to provide a simplified model for assessing the impact of sanctions enacted by the EU on its own economy.


2012 ◽  
Vol 78 (16) ◽  
pp. 5812-5817 ◽  
Author(s):  
James A. Lowther ◽  
Nicole E. Gustar ◽  
Andrew L. Powell ◽  
Rachel E. Hartnell ◽  
David N. Lees

ABSTRACTThe contamination of bivalve shellfish with norovirus from human fecal sources is recognized as an important human health risk. Standardized quantitative methods for the detection of norovirus in molluscan shellfish are now available, and viral standards are being considered in the European Union and internationally. This 2-year systematic study aimed to investigate the impact of the application of these methods to the monitoring of norovirus contamination in oyster production areas in the United Kingdom. Twenty-four monthly samples of oysters from 39 United Kingdom production areas, chosen to represent a range of potential contamination risk, were tested for norovirus genogroups I and II by using a quantitative real-time reverse transcription (RT)-PCR method. Norovirus was detected in 76.2% (643/844) of samples, with all sites returning at least one positive result. Both prevalences (presence or absence) and norovirus levels varied markedly between sites. However, overall, a marked winter seasonality of contamination by both prevalence and quantity was observed. Correlations were found between norovirus contamination and potential risk indicators, including harvesting area classifications,Escherichia coliscores, and environmental temperatures. A predictive risk score for norovirus contamination was developed by using a combination of these factors. In summary, this study, the largest of its type undertaken to date, provides a systematic analysis of norovirus contamination in commercial oyster production areas in the United Kingdom. The data should assist risk managers to develop control strategies to reduce the risk of human illness resulting from norovirus contamination of bivalve molluscs.


2016 ◽  
Vol 18 (4) ◽  
pp. 261-272 ◽  
Author(s):  
Laura Whitting ◽  
Andrew Day ◽  
Martine Powell

Community notification statutes, popularly known as ‘Megan’s Law’, were passed in rapid succession throughout the United States following the enactment of landmark legislation in the state of Washington in 1990. Calls for the adoption of similar legislation in Australia gained momentum following the introduction of ‘limited disclosure’ schemes in the United Kingdom and, in 2012, one Australian state introduced a limited form of community notification. This study presents an analysis of in-depth interviews with specialist police officers ( N=21) who are responsible for coordinating the ongoing management, registration and monitoring of sex offenders who live in the community in this jurisdiction to understand their perspectives on the scheme’s implementation. Systematic thematic analysis revealed that the officers were particularly interested in understanding the impact that notification has on offenders, victims and the broader community, and the police agency. The practice-based wisdom distilled from these interviews is used to inform a discussion about the more widespread implementation of this type of public policy both in Australia and in other countries that may be giving this consideration.


2018 ◽  
Vol 54 (2) ◽  
pp. 99-109
Author(s):  
Jakub Borowski ◽  
Jakub Olipra ◽  
Paweł Błaszyński

Abstract The decision of the United Kingdom (UK) to leave the European Union (EU) is unprecedented, especially considering the recent trend in the global economy toward economic integration. There is a multitude of research concerning the implications of economic integration; however, research in the field of disintegration is scarce. Brexit serves as an interesting case study to investigate the effects of economic disintegration. The implications for trade are especially fascinating as trade liberalization is one of the most important benefits of economic integration. Existing studies focus mainly on Brexit’s impact on the UK’s exports and imports, while less attention has been paid to Brexit’s effects on the trade of other countries. The main objective of our research is to estimate Brexit’s influence on Polish exports. We present several possible scenarios of future trade relations between the UK and the EU and assume that, at least in the nearest-future post-Brexit scenario, trade under the World Trade Organization rules is most likely. This will result in the imposition of tariffs on trade between the UK and the EU members, including Poland. In our research, we used the real exchange rate of the Polish zloty against the British pound as a proxy for the changes in price competitiveness of Polish exports due to the imposition of tariffs. We find that in the first year after Brexit, the dynamics of Polish exports to the UK will decrease due to the imposition of customs duties by 1.3 percentage points (pp) and by 0.1 pp when it comes to total Polish exports. This paper contributes to the discussion on the effects of disintegration on trade. We propose a new method for assessing changes in trade volume due to increase of trade barriers.


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