A guide to Scottish GDP
Marcus, Milan and McGeoch, Adam (2020) A guide to Scottish GDP. Fraser of Allander Economic Commentary, 44 (4). ISSN 2046-5378
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Abstract
The size of Scotland's economy is frequently used as an indicator of how well Scotland does compared to the rest of the UK. GDP often features in the news, for example in the current climate, where both the UK and Scotland have officially entered a recession following two consecutive quarters of negative GDP growth. But GDP isn't just one simple figure. This guide will discuss the difference between real GDP and nominal GDP, total GDP and GDP per head. It will discuss things like how much of the oil and gas extraction in the North Sea to include in any measurement of the size of the Scottish economy. The guide will show how the Scottish economy compares in the UK and the world. In addition, when asking whether Scotland is a wealthy, or successful, country, we consider the debate on wider measures of success and wellbeing, i.e. looking beyond GDP. In this guide we consider several other complimentary measures.
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Item type: Article ID code: 74931 Dates: DateEvent16 December 2020Published14 December 2020AcceptedNotes: This article was published alongside the Fraser of Allander Economic Commentary vol.44 no.4 2020. Subjects: Social Sciences > Economic Theory Department: Strathclyde Business School > Economics
Strathclyde Business School > Fraser of Allander InstituteDepositing user: Pure Administrator Date deposited: 16 Dec 2020 15:29 Last modified: 02 Nov 2024 01:53 Related URLs: URI: https://strathprints.strath.ac.uk/id/eprint/74931