North Sea Oil and Genuine Saving in the Scottish Economy

Greg Bremner and Rod Cross

No 1210, Working Papers from University of Strathclyde Business School, Department of Economics

Abstract: The World Bank has published estimates of sustainability of consumption paths by adjusting saving rates to take account of the depletion of non-renewable resources. During the period of North Sea oil production Scotland has been in a fiscal union with the rest of the UK. The present paper adjusts the World Bank data to produce separate genuine saving estimates for Scotland and the rest of the UK for 1970-2009, based on a 'derivation' principle for oil revenues. The calculations indicate that Scotland has had a negative genuine saving rate for most of the period of exploitation of North Sea oil resources, with genuine saving being positive in the rest of the UK during this period.

Keywords: Genuine savings; Adjusted net savings; North Sea oil; Derivation principle (search for similar items in EconPapers)
JEL-codes: H72 Q32 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2012-07
New Economics Papers: this item is included in nep-ene
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published

Downloads: (external link)
http://www.strath.ac.uk/media/1newwebsite/departme ... 2012/12-10-Final.pdf (application/pdf)

Related works:
Working Paper: North Sea Oil and Genuine Saving in the Scottish Economy (2012)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:str:wpaper:1210

Access Statistics for this paper

More papers in Working Papers from University of Strathclyde Business School, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Kirsty Hall ().