On the basis of economic theory, what effects can globalisation be expected to have on trade and growth? Does the empirical evidence support this? What developments will the next phase of globalisation bring?

The United Kingdom will depart from the European Union in March 2019. Numerous open questions remain about details and conditions especially with regard to post-Brexit EU-UK trade relations. In case of a negotiation failure, a "hard Brexit" could cause considerably high costs on both sides of...