The Economic Impact of Standards in Belgium

Caroline Buts, Ellen Van Droogenbroeck, Michaël R. J. Dooms and Kim Willems
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Caroline Buts: Vrije Universiteit Brussel, Belgium
Ellen Van Droogenbroeck: Vrije Universiteit Brussel, Belgium
Michaël R. J. Dooms: Vrije Universiteit Brussel, Belgium
Kim Willems: Vrije Universiteit Brussel, Belgium

International Journal of Standardization Research (IJSR), 2020, vol. 18, issue 1, 44-64

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.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:igg:jsr000:v:18:y:2020:i:1:p:44-64

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