Standards help stabilize economic growth
New study updating analysis carried out on behalf of DIN in 2000; Benefits of standardization amount to about 17 billion euros per year
(2011-08-04) The results of a new DIN study on the economic benefits of standardization has just been published. The aim of the new study carried out by economists Prof. Dr. Knut Blind, Prof. Dr. André Jungmittag and Dr. Axel Mangelsdorf was to recalculate the economic benefits of standardization on the basis of recent data. This new calculation was necessary because standardization in Germany has changed in many ways – for example, today about 80 % of all standards published in Germany are of European or international origin. Also, the service sector has greater importance for the economy than previously.
The role of standards in the dissemination/diffusion of technical knowledge and their resulting contribution to continual economic growth had been demonstrated in the 2000 study carried out on DIN's behalf. The result of the recent study approximately corresponds to the value obtained ten years ago: an economic benefit of about 17 billion euros a year. Relatively speaking this is 0,72 % of Germany's GDP. At the same time, it has been shown that standards have had a stabilizing effect on economic growth.
The positive economic impacts of standards extend well beyond the benefits calculated in the study. For example, many standards lay down requirements for workplace safety, reducing the number of occupational accidents and thus lowering absenteeism. Environmental standards help protect the environment, which improves the quality of life and general well-being throughout the economy. And finally, standards help contribute to greater consumer safety and health. Standardization is thus a well-established, effective instrument for achieving policy goals in many areas.
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