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