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The Economic Impact of Standards in Belgium

Author

Listed:
  • 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)

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.

Suggested Citation

  • Caroline Buts & Ellen Van Droogenbroeck & Michaël R. J. Dooms & Kim Willems, 2020. "The Economic Impact of Standards in Belgium," International Journal of Standardization Research (IJSR), IGI Global, vol. 18(1), pages 44-64, January.
    • Handle: RePEc:igg:jsr000:v:18:y:2020:i:1:p:44-64
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