What is the impact of women's participation in economic development?

Answer from top 10 papers

The impact of women's participation in economic development is multifaceted and significant. Empirical evidence and theoretical frameworks suggest that women's economic roles and empowerment are crucial drivers of economic growth (Amarasooriya et al., 2024). Studies have shown that women's participation in the workforce, particularly when supported by gender-inclusive policies, correlates with overall economic growth and can lead to tangible benefits for businesses and economies (Amarasooriya et al., 2024). Moreover, econometric analyses from countries like Bangladesh and Vietnam indicate that women's empowerment, as measured by labor force participation and other indicators, can have varying effects on economic development, with some evidence supporting a bidirectional relationship (Eswari, 2019).
Contradictions arise when considering the complex nature of this relationship. For instance, while some studies find a positive impact of women's labor force participation on economic development, others report no significant effect or even negative significance for certain variables (Eswari, 2019; Purba, 2024; Ruiters & Charteris, 2020). These discrepancies may be attributed to different socio-economic contexts, measurement methods, and the multifaceted nature of empowerment and development.
In summary, the literature underscores the importance of women's economic participation as a catalyst for development. However, the relationship is complex and context-dependent, with various factors influencing the outcomes. To maximize the positive impact of women's participation, policy interventions should focus on removing barriers to women's workforce entry and advancement, enhancing access to education and vocational training, and fostering an environment conducive to gender equality (Amarasooriya et al., 2024; Sajjad et al., 2020). Continued investment in gender-inclusive economic policies and practices is essential for unlocking the full potential of economies and achieving sustainable development and equality (-, 2023; Amarasooriya et al., 2024; Gugan et al., 2024; Rajan et al., 2022).

Source Papers

An Analysis of the Obstructive Factors that Impact the Empowerment of Women Entrepreneurs in Sri Lanka

The sector of small and medium enterprises is considered an encouraging platform for the economic empowerment of women through participating in economic development as entrepreneurs. The lower productivity exhibited by these SMEs in Sri Lanka was identified as a result of the high participation rate of female entrepreneurs in the informal economy. An unfavourable environment has been created obstructing the transition of women entrepreneurs towards the upper echelon of the business world through diverse impediments. Thus, the research focused on exploring the barriers that hinder the business growth of women entrepreneurs in small and medium-scale enterprises. Accordingly, the research was conducted as secondary research: a literature survey. In Sri Lanka, a minor percentage of female participation in small and medium enterprises occurs due to limited access to financial resources, lack of financial literacy, social prejudices, social and cultural restrictions, and limited opportunities for networking and communicating with external resources. Thus, closing the gender gap in education, giving access to capital through a concerted policy action and providing women entrepreneurs with opportunities to improve their financial literacy and educational level were highlighted as the major recommendations in the study to empower women entrepreneurs to climb the value chain. Women entrepreneurs in small and medium-scale enterprises need to be facilitated with greater access to the domestic, regional and international markets in order to enable them to expand their businesses with productivity and innovation. Thus, vital policy measures should be taken to mitigate the barriers involved in formalizing the business mechanisms while focusing on increasing the benefits that women entrepreneurs can gain through that standardizing process.

Open Access
The Role of Women in East Kalimantan's Economic Growth

Gender equality is essential because it indicates justice and equality for men and women with the same rights, obligations, and opportunities, resulting in economic growth in the region and country. This study aims to analyze the effects of women's roles: the gender development index (GDI), the gender empowerment index (GEI), the percentage of women as professionals (PWP), the mean years of schooling for women (MYSW), and the women's life expectancy (WLE), on economic growth in East Kalimantan. This study used secondary data from Statistics of East Kalimantan Province (BPS). This data was analyzed using panel data regression covering from 2017 to 2021 from 10 cities/regencies in East Kalimantan. The findings indicate that GEI significantly influences economic growth in East Kalimantan, whereas GDI, PWP, MYSW, and WLE do not significantly affect economic growth. This lack of impact can be attributed to women's limited involvement and participation in various sectors, including economics, education, and health. Consequently, programs aimed at enhancing GDI, PWP, MYSW, and WLE have not translated into tangible economic growth in East Kalimantan. To address this, local governments and stakeholders in East Kalimantan must increase women's participation in political spheres such as parliament and higher education, ensure access to healthcare, and fortify regulations and institutions promoting women's rights, fostering regional economic growth

Open Access
Impact of Skill Development Programmes for Financial Empowerment of Women

This study delves into the profound impact of skill development programs on the financial empowerment of women in Andhra Pradesh, India. With a comprehensive analysis of these programs, this research uncovers significant findings that underscore the transformative potential of such initiatives in the context of gender empowerment and economic growth. The study reveals that skill development programs have a substantial and positive effect on women's financial empowerment. Women who participate in these programs experience a notable increase in their income levels. This increase is observed across various skill domains, leading to a reduction in gender income disparities. The programs also create enhanced employment opportunities for women. Participants often venture into industries that were traditionally male-dominated, securing stable employment and even exploring entrepreneurial ventures. Perhaps one of the most significant findings is the development of economic independence among women who complete skill development programs. This newfound independence is marked by a decreased reliance on family members or partners for financial support. Participants display increased confidence in managing their finances and accumulating assets, marking a shift towards greater financial autonomy. Skill development also plays a crucial role in educational advancement. Women who engage in these programs are more likely to invest in further education and skill upgradation. This not only enhances their employability but also empowers them with knowledge and confidence to participate in decision-making processes within their households and communities. Beyond the economic and educational dimensions, skill development programs foster social agency among women. Participants experience a heightened sense of empowerment, challenging traditional gender roles and becoming active contributors to their families and communities. These findings underscore the pivotal role of skill development programs in not only boosting individual financial empowerment but also fostering economic growth, gender equality, and social progress in Andhra Pradesh.

Open Access
Worldwide role of women entrepreneurs in economic development

Purpose The contribution of women entrepreneurs is still invisible and needs to be properly investigated. The purpose of this paper is to investigate this relationship by measuring women entrepreneurship and economic development at global level. Design/methodology/approach Secondary data has been retrieved from Female Entrepreneurship Index Report 2015, Human Development Report 2015 and KOF Index of Globalization 2015. Cross-sectional data is used from 69 countries of the world. Multiple regression is applied to estimate the data. Findings The results explained the significant impact of women entrepreneurship on the economies of the world. It was observed that women participation in entrepreneurial activities not only supports to their family income but also plays a significant role in economic development and social well-being of the society. Research limitations/implications There is no information about total output of women entrepreneurs in terms of new enterprises setups and established businesses of women except for year 2015. So, to measure the real contribution of women entrepreneurs around the globe is still a challenge. Practical implications It is reality that when women would be empowered as entrepreneurs then whole society gets benefits from it, as women entrepreneurs are beneficial for not only economic development but also social development of society. Originality/value This study uniquely addresses the contribution of women entrepreneurs in the world economy which is still an unseen but a powerful benefactor of development.

Women Empowerment-Economic Development Nexus: Bangladesh and Vietnam in Comparative Perspective

This study aims to highlight the bidirectional relationship between women’s empowerment and economic development in Bangladesh (South Asia) and Vietnam (Southeast Asia). The study investigates the U-shaped hypothesis for both countries to figure out the impact of economic development on women’s empowerment. With an econometric approach, the research runs the regression model by the Pooled Regression, Fixed Effect, and Random Effect models with Panel data from (1991-2019) to estimate the impact of women’s empowerment on economic development. Female labor force participation rate and Real GDP per capita are used as the proxy indicator of women’s empowerment and economic development respectively. In the regression model, Real GDP per capita is used as the dependent variable, and the female labor force participation rate as the independent variable. Fertility rate, Mortality rate, and Female employment to population ratio are used as controlled variables. The study demonstrates women's empowerment through the Human Development Index and Global Gender Gap Index. In Global Gender Gap Index, Vietnam is ahead in economic participation and opportunity (sub-index), and educational attainment (sub-index), whereas Bangladesh leads in health and survival (sub-index), and political empowerment (sub-index). However, the regression result shows that the female labor force participation rate, fertility rate, and mortality rate have a negative significance on economic development, whereas the female employment to population ratio has a positive significance on economic development in Bangladesh and Vietnam. The existing U-shape in Vietnam proves that women empowerment and economic development nexus is commendable whereas an upward pattern, not a U-shape exists in Bangladesh.

The Role of Women in Economic Development

Women's participation in economic development has emerged as a critical area of study and action in recent decades. The multifaceted role of women in driving economic growth, the historical context, theoretical frameworks, empirical evidence, and policy interventions surrounding this issue. Beginning with a historical overview, it traces the evolution of women's economic roles toward economic empowerment. Drawing upon feminist economic theories and human capital theory, the underlying factors shaping women's participation in the workforce and the persistent barriers they face, including gender-based discrimination and limited access to education and vocational training,through an analysis of empirical evidence, including case studies and statistical data, the economic impact of women's participation is demonstrating correlations between gender-inclusive policies and overall economic growth. It also explores the business case for gender diversity, emphasizing the tangible benefits for businesses and economies alike. Additionally, the key policy interventions and best practices aimed at promoting women's economic empowerment range from legal reforms to initiatives improving access to education and work-life balance.Drawing upon success stories and lessons learned from various contexts, the effective strategies for advancing women's economic participation and underscore the importance of sustained efforts in this regard. Finally, the future directions and recommendations for policymakers, businesses, and civil society actors emphasize the need for continued investment in gender-inclusive economic policies and practices. By prioritizing women's economic empowerment, societies can unlock the full potential of their economies, driving sustainable development and fostering greater equality and prosperity for all.

Open Access