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A common measure of the dispersion of a random variable or of a sample of data. Defined as the square root of the variance.
Industry:Economy
A common measure of the uncertainty associated with a numerical estimate, equal to the standard deviation of the associated error. In a regression analysis, standard errors are often reported with (or below) the coefficient estimates. As a rough rule of thumb, one can be 95% confident that the true coefficient is within 2 standard errors of the estimate.
Industry:Economy
A classification system for traded goods that is used as the basis for recording and reporting data on exports and imports, and that is maintained by the United Nations Statistics Division.
Industry:Economy
1. Conformity to a common set of specifications, so that all units of a product, from a given producer or from multiple producers, are compatible and can serve the same purpose. 2. Conformity to an exacting set of specifications with regard to quality, such as the ISO9000 standards established maintained by the International Organization for Standardization.
Industry:Economy
A lending facility in the IMF established in 1952 for financing short-term payments difficulties.
Industry:Economy
1. A commitment to refrain from introducing new measures that are not consistent with an agreement. 2. In the Uruguay Round, the agreement not to introduce new GATT-inconsistent trade-restricting and trade-distorting measures during the negotiations. See rollback.
Industry:Economy
A theory of growth based on production and export of "staples" -- which seems, in this context, to mean raw materials. The theory was designed for understanding the early history of Canada, and is said to be most relevant for economies with an abundance of open land. See Watkins (1963).
Industry:Economy
A bank owned by government, other than the central bank, and performing the same functions as a commercial bank. State banks are often directed by their governments to provide credit to activities or persons favored by the government.
Industry:Economy
A system in which government plays a large and active role in the economy, owning large enterprises and using their influence in markets for political rather than purely economic ends.
Industry:Economy
A firm owned by government. Relations between SOEs and private firms on international markets raise special problems for GATT, since SOEs may not respond normally to market forces and their actions may reflect government policies.
Industry:Economy
