The Economic Base of North Dakota

Randal C. Coon, Dean Bangsund () and Nancy Hodur

No 121763, Staff Papers from North Dakota State University, Department of Agribusiness and Applied Economics

Abstract: The growth and composition of the North Dakota economy have been measured by using economic base analysis. Economic base (sales for final demand) has been estimated for sectors corresponding to the North Dakota Input-Output Model and for industrial categories. These two measures produce the same total basic economic activity, but use different delineations. North Dakota’s economic base has grown from $8.3 billion in 1990 to $32.2 billion in 2010 when measured in current year (nominal) dollars. When measured in real or constant dollars, the economy grew from $12.8 billion in 1990 to $32.2 billion in 2010. Constant dollars remove the effects of inflation and were calculated using the Gross Domestic Product Implicit Price Deflators. Nominal growth of the state’s economy from 1990 to 2010 was 120.3 percent, which amounted to 76.1 percent real growth. Natural resource-based activities (agriculture and energy) continue to comprise over half of the state’s economic base, accounting for 50.9 percent in 2010.

Keywords: Financial Economics; Public Economics (search for similar items in EconPapers)
Pages: 25
Date: 2012-03
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://ageconsearch.umn.edu/record/121763/files/AAE%20No.%2012002.pdf (application/pdf)

Related works:
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:ags:nddsps:121763

DOI: 10.22004/ag.econ.121763

Access Statistics for this paper

More papers in Staff Papers from North Dakota State University, Department of Agribusiness and Applied Economics Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().