AN independent Scotland could match Finland on wellbeing and become one of the happiest countries in the world, a new paper has suggested.

The paper, published by independence think-tank The Bottom Line, says that all of the ten countries with the highest levels of average life satisfaction are small advanced economies.

Finland has been ranked top by the annual World Happiness Report, followed by Denmark, Switzerland, Iceland and the Netherlands.

The analysis notes the UK is 17th in the list and while Scotland is not ranked separately, evidence suggests it currently has similar levels of life satisfaction as the rest of the UK.

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It says there are six variables that explain differences between countries, with the UK and Finland similar on measures of GDP per capita, social support and healthy life expectancy at birth.

On the measure of generosity, the UK does better than Finland, but The Bottom Line says there are differences in two issues which it has previously explored – the importance of agency and the need to tackle corruption.

The paper states: “There are two variables that seem to explain the gap between Finland and the UK. One is that in Finland, people are more likely to believe that they have freedom to make life choices (that, is high levels of agency) and the other is that perceptions of corruption are much greater in the UK than in Finland.

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“For Scotland, independence will, by definition, result in greater agency and will mean that Scotland will be able to tackle and reduce corruption.

“The agency that will come with independence and the power to tackle corruption, are likely to increase life satisfaction and so an independence Scotland could achieve life satisfaction levels as high as Finland, the happiest country in the world.”

The Bottom Line initiative, which aims to add to the debate around the economics of an independent Scotland, involves David Simpson, founding director of the Fraser of Allander Institute at Strathclyde University, Graeme Blackett, previously economic adviser to the SNP Growth Commission, and former SNP MP and Treasury spokesperson Roger Mullin.