Definition: Resident institutional unit

Balance of Payments, IMF

The sectors of an economy are composed of two main types of institutional units: (i) household and individuals who make up a household and (ii) legal and social entities, such as corporations and quasicorporations (e.g., branches of foreign direct investors), non-profit institutions, and the government of that economy. These institutional units must meet certain criteria to be considered resident units of the economy.
International Monetary Fund (IMF), "Balance of Payments Manual" (BOP), Fifth Edition, Washington D.C., 1993

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