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ISSN : 2456-3676

Title:
THE CASE OF EU WITHDRAW: THE CASE OF GREENLAND, LESSONS FOR BREXIT UNDER BUSINESS CYCLES SPECTRAL ANALYSIS

Authors:
Dimitrios Dapontas, Greece

Abstract:
The recent choice (2016) of UK withdraw from EU is not the first loss of the international organization. In a 1985 referendum, Greenland decided to secede the European Community even though remained constituted to its motherland Denmark. Comparisons with the present situation where a state member quails are obvious. The question arises has to do with the economic efficiency of this disintegration. Business cycles length can be a reliable answer to the raised question. If it grows then the effect is positive and vise versa. We deploy as reference time series checking out country's GNP growth in an annual frequency for sixty-six years (1950-2016) split to parts where breaking point is the year of changing its participation decision (1981 for Greenland respectively). The results show that Greenland did not manage to get the level of economic stability in lower frequency cycle trends compared to pre 1981 period. Similar behavior is expected for the UK.

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