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| Title: | The Economic Base of North Dakota |
| Authors: | Coon, Randal C.
Bangsund, Dean A.
Hodur, Nancy M. |
| Authors (Email): | Coon, Randal C. (randy.coon@ndsu.edu)
Bangsund, Dean A. (d.bangsund@ndsu.edu)
Hodur, Nancy M. (nancy.hodur@ndsu.edu) |
| Keywords: | North Dakota
economic base
basic-sector industries
sales to final demand
impact assessment
economic contribution |
| Issue Date: | 2012-03 |
| 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. |
| URI: | http://purl.umn.edu/121763 |
| Institution/Association: | North Dakota State University>Department of Agribusiness and Applied Economics>Staff Papers |
| Total Pages: | 25 |
| Collections: | Staff Papers
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Files in This Item:
| File |
Description |
Size | Format |
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| AAE No. 12002.pdf | | 129Kb | PDF | View/Open |
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