The UK vote to leave the EU in 2016 led to an immediate rise in economic policy uncertainty. This column examines how Brexit-related policy uncertainty affected cross-border capital flows to the UK using firm-level evidence from Switzerland. Heightened uncertainty following the referendum led to a persistent decline in short-term debt flows to the UK, while equity investment remained largely unchanged. The adjustment was concentrated among US-controlled firms resident in Switzerland, reflecting

Tag-uri: Referendum