Structural Analysis of the Alaska Economy: A Perspective from 1997

Abstract

The structure of the Alaska economy is reflected in the share of personal income and employment attributable to each of the BASIC industrial sectors and other external sources of household purchasing power. We identify twelve activities upon which the size and composition of the Alaska economy depends and trace their growth over time. Although an oversimplification of reality, the economic base model is a useful tool for studying the structure of the Alaska economy. In the economic base model, BASIC activities are the source of economic growth for the regional economy. Our analysis offers a consistent methodology but is not a detailed historical investigation of each individual industry. A more comprehensive analysis would further refine the attributions we have made, but we feel that the representation of the structure of the economy presented in this report is valid and useful as a description of the economy.