An Empirical Assessment of UK Economic Performance in the Context of Brexit: An EU Wide Comparison

Abstract

This paper investigates overall well-being of the UK economy in comparison with other EU member countries-priorto 2015 referendum. The results will help to comprehend the very nature of the exit decision in this light. This workto a certain extent expected to help establish whether the decision taken at the referendum was more reflection ofa political nature that accommodated partisan bias- or- rather it was based on the public concerns stemming fromeconomic considerations. This empirical research employs PROMETHEE method which is one of the best knownmulti criteria methods. The alternatives in the comparison matrix are comprised of 28 EU member countries and thecriteria are comprised of nine criteria. The overall performance is the combination of fundamental indicators most ofwhich-one way or another-were related to the political debate on the eve of referendum.