One reason for investing in Quality Infrastructure (QI) is its contribution to a country’s economic growth. QI enhances economic performance through several avenues, including opening markets, reducing entry barriers, promoting knowledge transfer and better management procedures, facilitating production along value chains, enabling economies of scale, and reducing adverse selection and asymmetric information (Gonçalves and Peuckert, 2011). While interest in QI has been increasing over the years, QI experts, researchers and practitioners are challenged with quantifying the economic benefits of QI to highlight its importance and justify the need for investment and further development. So far, there have been various studies on the macroeconomic impact of individual QI components, such as standards, metrology and conformity assessment. However, an impact analysis for the entire system is still pending. This blog explores the methodologies used for the macroeconomic impact assessments of the different QI components and the possibility of conducting an assessment of the overall QI system.
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