Impact of Brexit on Ireland

Running head: RESEARCH PROPOSAL
A Research Study on the Effect of Brexit on the Banking Industry of Ireland in the years 2018-
2022
Name of the Student:
Name of the University:
Author note:

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RESEARCH PROPOSAL
1.0 Introduction
Brexit refers to the Britain’s exit from the European Union (EU). On June 23, 2016, the
citizens of Great Britain voted for the referendum to exit the EU and the outcome had a shocking
effect on the British as well as global economy. UK got a new Prime Minister, Theresa May as
David Cameron stepped down from the post. The Brexit is expected to have a severe impact not
only on the British economy, but on Ireland also, as the Irish economy is heavily connected with
the British economy in terms of high level of trade and due to shared border of the country
(Hobolt 2016). According to the experts, Brexit will have significant effect on the major sectors
of the Irish economy, including banking or finance, education, agriculture and food production,
real estate, health, hospitality, insurance, pharmaceuticals, technology and software and many
other industries (Barrett et al. 2015). The research paper aims to find out the effect of Brexit on
the banking industry of Ireland in the years of 2018-2022. Among many other industries, the
researcher has chosen the banking sector, that is, finance sector of Ireland due to its huge
economic importance. As stated by McLeay, Radia and Thomas (2014), finance sector of a
country is the backbone of the economy and it determines how the economy will flow in the
future. The impact of Brexit on the banking will affect the entire Irish economy as the
production, consumption and trade decisions and the government of Ireland has to act
accordingly to incorporate the Brexit effects. Thus, in this research proposal, the researcher aims
to find out how far the Brexit is spreading its effect on the banking sector of Ireland from 2018 to
2022.

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RESEARCH PROPOSAL
2.0 Research objectives
The objectives of the research are:
 To find out the factors that impacts the performance of the banking sector of Ireland.
 To find out the impact of Brexit on the money supply in the economy
 To find out the impact of Brexit on the interest rate, savings, investment and foreign
capital inflow in Ireland
3.0 Research hypothesis
H0 (null hypothesis): Brexit has no significant impact on the Banking sector of Ireland.
H1 (alternate hypothesis): Brexit has significant impact on the Banking sector of Ireland.
4.0 Research strategy
Research strategy refers to the plan of the researcher to move in the proper direction to
fulfill the research objectives. There can be two ways of conducting a research, exploratory and
explanatory. Under the exploratory approach, the researcher will explore the research topic to
derive a new theory from the study. This is also known as inductive research. On the other hand,
explanatory research refers to the approach where the researcher will explain the research topic
on the basis of already established theories. This strategy follows the deductive approach of
research. Under deductive approach, the researcher does not focus on generating new theories
from the data; rather the research subject is explained or tested on the basis of established
theories.

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RESEARCH PROPOSAL
In the following research, the researcher will be choosing the explanatory research
strategy under the deductive research approach. To fulfill the research objectives, the researcher
has to find out relevant and supporting data from the banking sector and the economic condition
of Ireland and relate to the research objectives. He needs to collect the data on the factors
influencing the performance of the Irish banking sector, impact of Brexit on the money supply in
the economy and on the monetary and fiscal policies of the government, influencing the
macroeconomic factors, such as, savings, investment, production, interest rate and foreign capital
inflow into the economy. To come to a conclusion, the researcher will be analyzing those data
and observations on the basis of established literature and theories and present the explanations.
The researcher will not be using exploratory and inductive research approach because, to
address the issue, the researcher does not need to explore a new topic or generate a new theory
from the research. Rather, he has to explain the phenomenon on the basis of some observation
and collected data. He does not need to invent a new theory from the data. Thus, he should apply
the deductive approach of research and explanatory research strategy to find out the impact of
Brexit on the banking sector of Ireland and its implications on the Irish economy.
5.0 Research design and methodology
Research design is the basic plan of the researcher to choose a way to address the
research topic. Various types of research design are available, such as, case study, experiment,
narrative, ethnography and grounded theory. Based on the requirement, the researcher chooses
the best strategy. For the following study, the researcher will be adopting the case study
approach. This approach is helpful in testing the research topic through empirical investigation,
supported by the data collected from the sample. Bank of Ireland, which is one of the major