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Re: Britain outside the EU
Here’s the actual research conclusions, without the Telegraph’s anti-EU spin…
https://voxeu.org/article/how-data-p...mance-globally
Quote:
Conclusions
Our findings lead us to conclude that the adverse performance impact of GDPR on both profits and sales have been significant for companies operating in the EU. But the main effect has occurred through rising compliance costs rather than reduced sales. That said, these results must be interpreted with caution. First, some of the adverse impacts we document might be temporary adjustment costs, meaning that the negative effects of GDPR might taper off in the future. For example, the marked increase in patenting after 2018 probably reflects one-off investments in new GDPR-compliant technologies. Second, if GDPR is widely adopted and becomes a global standard, companies targeting EU residents will gradually become less disadvantaged. Third, we note that our estimates do not capture the aggregate welfare effects of the regulation since potential benefits to citizens concerned with data protection are unaccounted for.
Nonetheless, we believe that some modifications to GDPR in its current form would be desirable, taking into account that the regulation has put smaller companies at a disadvantage. Indeed, while European leaders have pledged to reign in the power of bigTech, GDPR might even have strengthened them by weakening their competitors. Indeed, our findings show that smaller companies have been disproportionally adversely impacted, both in terms of sales and profits
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