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Economic union Definition from Business & Finance Dictionaries & Glossaries
An agreement between two or more countries that allows the free movement of capital, labor, all goods and services, and involves the harmonization and unification of social, fiscal, and monetary policies.
Copyright © 2000, Campbell R. Harvey. All Rights Reserved.Economic union Definition from Encyclopedia Dictionaries & Glossaries
An economic union is a type of trade bloc which is composed of a common market with a customs union. The participant countries have both common policies on product regulation, freedom of movement of goods, services and the factors of production (capital and labour) and a common external trade policy.The countries often share a common currency.
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