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The 2016 Brexit vote spurred British companies into increasing investment in European Union countries sharply, likely at the expense of spending at home, an academic study showed on Monday. The referendum result led to a 12 percent increase in foreign direct investment transactions from Britain into the EU between mid-2016 and September 2018, researchers from the London School of Economics' Center for Economic Performance said. Although the authors could not be certain if this would have otherwise been spent in Britain, they cited business survey evidence and media reports that suggested spending often took place at the expense of British.
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