In cooperation with EY, Knowence and several leading academic sectorial experts Menon Economics has conducted the study “Functions and effects of European standards” in the EU and EFTA Member States. The study represents an extensive knowledge base for the European Commission’s Directorate General for Internal Market, Industry, Entrepreneurship and SMEs (DG Grow) further work. The study looks at European standards and standardisation from different angles, which includes a macroeconomic and sectorial perspective, a specific analysis of European standards and standardisation for SMEs and a perspective on the relation between standards and standardisation and the so-called New Approach.
Menon has been responsible for Task 1 of the study which contains a macroeconomic analysis of how European standards relate to productivity, both at the economy wide level, as well as at the sectorial level, how European standards affect innovation activities and sustainable development. We find a significant positive correlation between European standards and productivity, with the largest productivity gains identified downstream in the value chain. Moreover, we find that sectors with more European standards have a higher level of innovations new to the market. The latter result supports the hypothesis that European standards create a common knowledge platform for European firms to innovate from. Finally, we identify a systematic positive pattern regarding the development of European standards and relevant SDG indicators, including: clean water and sanitation (SDG 6), affordable and clean energy (SDG 7), sustainable cities and communities (SDG 11), responsible consumption and production (SDG 12), life below water (SDG 14) and life on land (SDG 15).
- A summary of the key findings can be downloaded here: Summary-of-macroeconomic-effects-of-European-standardisation.pdf (menon.no)
- Part 1 of the study can be downloaded here: Macroeconomic-effects-of-European-standardisation.pdf (menon.no)
- The study in its entirety can be downloaded here
For further questions on Task 1 of the study please contact Øyvind Vennerød at Menon Economics.
Menon’s work within standardisation continues, with ongoing analyses of the benefits of standardisation for the Nordic countries and the Netherlands.