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The Economic Impact of Standards in Belgium.

Authors :
Buts, Caroline
Van Droogenbroeck, Ellen
Dooms, Michaël R. J.
Willems, Kim
Source :
International Journal of Standardization Research; Jan-Jun2020, Vol. 18 Issue 1, p44-64, 21p
Publication Year :
2020

Abstract

While several past studies have measured the impact of standards on indicators such as output and productivity for a variety of countries, a quantitative analysis that focuses on Belgium has not been performed yet. Based on a dataset containing sector level data spanning 25 years (1994-2018), the authors find that, next to capital investment and the number of patents, standards make a statistically significant, positive and substantial contribution to Belgian GDP as well as to labor productivity. More specifically, one additional standard will on average increase GDP by €2.04 million per year and will increase labor productivity per person employed by €11.5. In addition, standards contribute to about 0.2% of GDP, 19% of GDP growth, and 19% of labor productivity growth. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
24708542
Volume :
18
Issue :
1
Database :
Complementary Index
Journal :
International Journal of Standardization Research
Publication Type :
Academic Journal
Accession number :
147940038
Full Text :
https://doi.org/10.4018/IJSR.20200101.oa3