A Fresh Start with Independence: The macroeconomic framework of an independent Scotland and the measurement of economic flows

Endnotes

1. International Monetary Fund (2025) IMF Annual Report 2025

2. International Monetary Fund (2025) IMF Annual Report 2025

3. World Bank Group (2019) A Decade After the Global Recession: Lessons and Challenges for Emerging and Developing Economies

4. International Monetary Fund (2025) 2025 External Sector Report: Global Imbalances in a Shifting World

5. International Monetary Fund (2025) Fiscal Monitor. Fiscal Policy under Uncertai

6. International Monetary Fund (2025) Global Current Account Balances Widen, Reversing Narrowing Tr

7. International Monetary Fund (2025) 2025 External Sector Report: Global Imbalances in a Shifting Wo

8. International Monetary Fund (2025) Global Current Account Balances Widen, Reversing Narrowing Tr

9. International Monetary Fund (2025) Global Current Account Balances Widen, Reversing Narrowing Tre

10. Office for National Statistics (2025) Balance of payme

11. Office for National Statistics (2025) Balance of Payments, UK table BX (last accessed 27 August 20 table BX (last accessed 27 August 2025)

12. Office for National Statistics (2025) Balance of Payments, UK table I (last accessed 27 August 20 table I (last accessed 27 August 2025)

13. Office for National Statistics (2025) UK Balance of Payments, The Pink Book: 2024 table 7.2 (last accessed 27 August 20 table 7.2 (last accessed 27 August 2025)

14. Scottish Government (2024) Supply and use satellite accounts for extra-regio activities: 1998-2023. See Table 1 (last accessed 3 October 202 . See Table 1 (last accessed 3 October 2025)

15. Scottish Government (2025) GDP Quarterly National Accounts: 2025 Quarter 1 (January to March) (See GDP quarterly national accounts supplementary tables, Table C3) (last accessed 3 October 202 (See GDP quarterly national accounts supplementary tables, Table C3) (last accessed 3 October 2025)

16. Scottish Government (2024) Supply and use satellite accounts for extra-regio activities: 1998-2023. See Table 1 (last accessed 3 October 20 . See Table 1 (last accessed 3 October 2025)

17. Scottish Government (2023) Primary Income Account and Gross National Income (GNI) for Scotland, 1998 - 2021, Table 1 (last accessed 27 August 20 , Table 1 (last accessed 27 August 2025)

18. Scottish Government (2023) Primary Income Account and Gross National Income (GNI) for Scotland, 1998 - 2021, Table 4 (last accessed 27 August 20 , Table 4 (last accessed 27 August 2025)