Andrew Wilson’s Growth Commission document says an independent Scotland should aspire to match the economies of 12 other small advanced countries including Denmark, New Zealand, Norway and Ireland.
On average, GDP per head in these 12 countries is 14 per cent higher than Scotland, which translates to an extra £4,100 per person.
According to the document, it would take 10-years for Scotland to catch up with their average growth rate of 2.5 per cent.
It then said years 10 to 25 years would be spent closing the GDP per head gap with the small advanced economies, assuming a period of 3.5 per cent growth.
The paper said the ability to tailor policy could lead to avoiding a “low growth future” in the UK outside the EU.
It added: “The long term nature of the strategy should not diminish its urgency. It must begin now.”