Chapter III explores the economic effects of national standards. It describes their classification from an economic perspective, and the impact they have on trade (they help to determine market access; the efficiency of the economy; the cost, quality and availability of products), growth and innovation and how developed and developing countries and large and small companies are differently affected. It also looks into the idea that international standards are potentially global public goods and it goes on to compare the benefits of harmonization with those of mutual recognition. The impact international standards have on trade and market access makes participation in ISBs very attractive to economic actors. This creates a problem because, without policies to tip the balance, developed countries and transnational companies will dominate participation in ISBs, which might hinder the access that developing countries and SMEs have to certain markets, particularly those in developed countries. This negative effect is exacerbated because standards that respond to the interests of a few actors would fail to become global public goods.