If you stand or walk the recoveries, you usually want the rest to be even longer, to help ensure complete recovery. It's best to think about 2 kinds of interval training: let's call one "anaerobic" and the other "aerobic". The distinction here is whether you want a workout with partial recovery during the rest intervals, or a complete recovery.
If you want complete recoveries, make them passive (walking or standing), and longer (e.g. 2x-5x the time of the rep.). This leaves you equally fresh (almost) for all of the repetitions. This allows you to accumulate lactate during the repetitions, and then gives you plenty of time to clear the lactate away before the next repetition. The pace of the rep might also be faster (e.g. mile pace to 3K pace), but some say the interval recovery length is the more important variable. This brings more "anaerobic" benefits.
If you want partial recoveries, make them active (jogging) and short (e.g. equal time or half the distance of the rep.) Since recoveries are incomplete, there is a cumulative effect and a building fatigue as you progress through the reps. Lactate accumulation is not completely cleared between reps. This provides a different kind of stimulus, as you are not starting each new repetition in a fresh state, but rather a progressively fatigued state. This also places a natural limit on how fast the repetitions can be, because if it's too fast, you won't be able to complete the workout. The pace of the rep can also be slower, e.g. 3K-5K or 10K pace. This kind of workout brings more "aerobic" benefits. It's also closer to the conditions of real racing then if you use longer, passive recoveries.