Summary

This study provides a macroeconomic analysis of the relationship between standards and economic growth. Economic modeling finds that an increase in the stock of standards correlates with an increase in Gross Domestic Product (GDP).

Abstract

This 25-page report, commissioned by the Standards Council of Canada (SCC) and produced by the Conference Board of Canada, clarifies and confirms the essential role that standards play in Canada’s economic growth and labour productivity. The report is an update to the Conference Board’s July 2007 research report entitled Economic Value of Standardization. Developing and using standards will help fuel a more competitive and innovative Canadian economy. They help businesses thrive and compete, keep Canadians safe, and support clean growth and infrastructure.

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