Issue 47 – March 2013
Standards Australia recently published a Research Paper –The Economic Benefits of Standardisation. This paper reviews the current research on the role Standards play in the economic growth of major economies.
The paper seeks to demonstrate the value of Australian Standards to the Australian economy. By Australian Standards, the paper is referring to all Australian only Standards, all Australian/New Zealand joint Standards, and all international adoptions. These Standards cover 12 key sectors of the Australian economy and are developed by balanced committees of technical experts for the net benefit of the Australian community.
While it is not possible in the paper to capture all of the impacts of Australian Standards, particularly those impacts associated with safety, the paper says that the 'modelling will provide valuable insights into the relationship between Australian Standards and economic growth in a way that is comparable to the research undertaken in other countries.'
→ Download the research paper
Summarised from Standards Australia's website.