Definition: Institutional sector
Grouping of institutional units on the basis of their principal functions, behaviour and objectives.
The SNA distinguishes five institutional sectors:
a) Non-financial corporations
b) Financial corporations
c) General government
e) Non-profit institutions serving households (NPISHs).
Each sector contains a number of subsectors distinguished according to a hierarchical classification A subsector comprises entire institutional units, and each institutional unit belongs to only one subsector though alternative groupings are possible. The distinction between public, national private and foreign controlled corporations and between various socio-economic groups of households is included in the SNA in order to respond to policy concerns.
European Commission (Eurostat), International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), United Nations (Statistics Division), World Bank, "System of National Accounts 2008", United Nations, New York, 2009