Standards Council of Canada. (2007). Economic Value of Standardization. The Conference Board of Canada, Ottawa.
The Standards Council of Canada (SCC) commissioned a study to examine the impact of standardization on the Canadian economy. The study involved a review of the standards-oriented economics literature, an empirical analysis of the impact of the collection of standards on Canadian labour productivity, a series of interviews with Canadian leaders, and two case studies on the benefits of selected aspects of standardization.
The empirical work clearly showed that standards play an important role in enhancinglabour productivity, measured as output per hour worked. Over the study period of 1981-2004, standardization accounted for 17% of the growth rate in labour productivitywhich translates into approximately 9% of the growth rate in output (real GDP). Theimpact, over time, of this positive contribution to output growth is substantial. The findings from the qualitative research support the benefits of standards and standards development: as the basis for continuous improvement, innovation and new product development. Standardization helps to establish a level playing field for business and validate credibility without which many would not be in business. Other respondents commented on the important role that standards play in improving productivity, facilitating trade and new market development as well as contributing to improved public safety.