Impact Of Gender Equality On Economic Growth And Development

Gender Equality and Education

Describe about the Gender Equality for Boost Economic Growth.

In this research paper, I will be vividly discussing the impact of gender equality on economic growth and development. With the progressive attitude of the society, women nowadays are playing a significant role in economic development of a country. As per the opinion of Alderman and Yemtsov (2013), the growing importance of gender equality has focused towards both education and employment equality of females. In modern day scenario, females have overcome certain geographical, financial, family responsibilities and child care like stereotyped barriers to progress in the fields of their choice. They not only work shoulder to shoulder to male but also add economic development to their career and organization. It is a prior obligation in today’s corporate world to provide jobs by qualification, education, and experience; rather than focusing on gender biases. Benería et al. (2015) commented that gender equality not only contributes to enhancing productivity and economic growth but countries and organizations those achieved in gender equality had maximized their economic potentiality and competitiveness. The organizations should also open up field jobs positions for women irrespective of thinking about any gender biases. In this paper, I will provide certain evidence and reviews that will help in understanding the impact of unbiased gender impartiality on economic growth and development.

According to Chant and Sweetman (2012), decades ago, there was a high percentage of gender inequalities among all global countries. The gender inequality prevailed in all the sectors such as education, employment, salary scale, and promotions. At those times, women were supposed to take care of their families, indulge them in child care and refrain themselves from any work or education. It, therefore, resulted in non-contribution of women in the economic development of a country or organization. Even more, the organizations and world economy suffered stagnancy in their development due to similar and paralleled intelligence, rationality, and viewpoint from male counterparts. Cornwall and Rivas (2015) mentioned that the innovativeness, pioneering and ground-breaking ideas and thoughts were falling short off due to non-involvement of women in business and industries. Till date, there are certain areas where gender gap persists. But, with time, the gender gaps across the regions are reducing rapidly, and women are working hard in providing a significant contribution to global economic development. I have compared the different reviews from the past and present regarding women’s impact and contribution towards economic development.  Dabla-Norris et al. (2015) stated that statistical reports have shown that the South Asian, Middle East, Sub-Saharan Africa and North African countries have achieved a good progress towards gender equality. Women belonging from these regions are competing well in all sectors of education, corporate jobs, entertainment and field jobs. Hence, this approach of women ensures both economic development and progression in living standard of people.

Gender Equality and Labor Markets

In this research work, I will be conferring and assessing certain evidence that will emphasize more on gender equality. I will also extend my discussion on the contribution of gender equality in all sectors of employment that impacts to economic development and growth. As opined by Elborgh-Woytek et al. (2013), gender equality enhances and improves human capital that contributes to economic development. The highly educated females are capable of undertaking high-value earning economic activities. They have an innovative way of thinking and rationalizing decisions taken in an organization. Their competitiveness and dedication towards their work is impeccable and hence relishes success due to their commitment towards work. Moreover, as opined by Gonzales, M.C., Jain-Chandra et al. (2015), due to gender equality, it motivates other females in the society to pursue education and have a personal earning career. I have seen that certain African and Asiatic countries, with the improvement in gender equality, more females are getting educated and seeking out in having a career. A study has revealed a fact that the female education rate in Sub-Saharan countries has raised from 0.38% to .81% in the last decade (Hughes et al. 2015). This economic advancement and growth have a positive impact on the society. Women are likely to take fewer children, unlike the past that helped in declination of population growth. As a result, it contributes to lowering of global food scarcity and economic inequality across the world. 

Jayachandran (2014) also had an opinion that gender equality also contributes towards high labor productivity that also eventually aids to economic development and progression. With the improvement in women’s’ participation in labor markets, the overall scenario of monetary progression is making headway towards success. I have seen that the female participation in labor market is increasing considerably and is significantly impacting on global financial scale. The product based markets have become more competitive and viable with fostering of gender inequality. Female entrepreneurs’ use their exclusive and feasible experiences and knowledge to make their organizations reach high in revenue collection that makes impact on global economy. According to Kabeer and Natali (2013), there are still certain unwritten discriminations in certain parts of the world regarding female entrepreneurship. In these areas, treatment of women is different to that of men in terms of admission to institutions, property rights, taxation, access to credit and their ability in starting up a business. But, with the equal involvement of women in organizations and entrepreneurship in developed and rapidly developing countries is surely encouraging woman from under-developed and slowly developing countries to get educated and become economically independent. With the change in time, I have noticed that women discrimination rate is reducing significantly from 2.1% to 0.65% in certain Asiatic and African countries (Kinoshita and Guo 2015). This women discrimination impedes progression in economic development; hence it has to be eradicated from the society as soon as possible.

Gender Equality and Agricultural Productivity

In addition to this, Leclaire (2015) stated that gender equality fosters high agricultural productivity that also reduces comprehensive economic growth and development. Gender inequality or discrimination makes agricultural productivity stagnant to maximum extent. It is due to the fact that women do not have the opportunity to make the best use of resources like fertilizer, labor and credit extension. The overall agricultural responsibility falls on men that considerably reduces the overall productivity of food grains; hence low contribution towards global good production. So, it is necessary to involve women in agricultural productivity. According to Licumba et al. (2015), the low-income countries, those are depending more on agriculture than industries should engage women in agricultural activities. It will definitely elevate the production of grains and other food materials; that will eventually bring into more family income. Moreover, social institutions those are providing training to farmers for better usage of machines and fertilizers should also engage women in these sessions.  So, cooperating with each other both male and female farmers can engage together in agricultural production that will enhance their family income along with reduce global food production. As a result, it will definitely improve their financial and living status (Nabi et al. 2016). I have noticed that nowadays certain Asiatic and Saharan Africa countries are engaging women in agricultural activities and are definitely contributing towards economic development.

While conducting this research work, I came across the fact that with improved gender equality, investment in physical capital also increases. As mentioned by Ratha (2013), with the increased engagement of both men and females in semi-industrialized countries, the overall productivity increases with the productive workforce. Women should be given equal power, position and facility for enhancing their contribution and usage of knowledge in field work sections like construction, manufacturing, hard-core sales and heavy production industries and factories. These increased opportunities to women not only generate growth but also increases the predictable rate of returns. As a result, this increased growth also enables countries and organizations to adopt highly dynamic and productive technologies. As opined by Razavi and Turquet (2016), through enhanced technologies, it also aims towards improving female wages; that also improves savings and high lifestyle of general civilians. Both male and female can contribute equally to the household expenses that impact greatly on overall household savings. Even more, I have also came across that in certain Asiatic and African countries, the overall household income and savings rate have enhanced due to equal involvement of men and women at workplace. It, therefore, results in improved global economic and standard of living of the global citizens.

Gender Equality and Physical Capital Investment

Roberts (2015) commented that with enhancement in gender equality, the economic status of a country stabilizes and is more open and flexible towards trading and business. Previously, due to discrimination against women, they were barred from participating in any kind of trade and business sectors. It, therefore, localized and put into stagnant the overall business. The same outlooks, opinions and perceptive were circulating within the several organizations; those were impacting negatively on the overall economic and social development of the countries. But, as stated by Roberts and Soederberg (2012), with the encouragement of gender equality, it is seen that stability in global economy has also been improved. Innovative and path-breaking ideas, thoughts, opinions and viewpoints towards any business adoption or change are coming across with women involvement. Females are well manipulative and can even take-up risks that help in achieving great success to the organizations. Moreover, women are quite progressive towards savings hat also helps in maintaining overall household expenses ad also leverage the quality of living. I have learned that better will be the gender equality; development in all sectors of life will be enhanced.

While I was conducting more research on gender equality’s impact on economic development; I came across the fact that due to advancement in gender equality, infrastructural development gets improved. Even more, I also learned that with gender equality, political condition of a country becomes stable and less prone towards crime. According to Ruel et al. (2013), women mainly emphasizes on the overall infrastructure of a country in both rural and urban areas to cater the needs and requirements of people. They tend to bring into several tenders and contracts for building and modification of infrastructure across the countries. It helps facilitating easy movement of products and goods from one place to other and easily connects the urban and rural regions. It, therefore, results in reducing expenditure on transportation and hence tends to economic as well as communal development. Moreover, Seguino and Weree (2014) stated that women occupying influential positions in a country also lead to additional growth and development within it. The rules, regulations and laws are so made that ensures women safety at workplace. It also emphasizes on reduction of wage or income inequality and encourages providing equal opportunities to women having same experience, skills, education and talents required for that position. This approach not only helps in political stability within a country but also helps in progression of women. Hence, ultimately, the economic growth of a country gets improved that positively influences the global economic standard and reduces global inequality of economic status (Razavi and Turquet, 2016).

Gender Equality and Trade and Business

This essay conveys the message of improvement of gender equality that helps in improving both societal and financial conditions of the world. I have learned that through greater achievement in gender equality, the rate of education and employment rate increases. It also helps in increasing productivity in industries, factories and agricultural sectors that also improves the country’s economic condition. Moreover, with gender equality, infrastructural facilities also get improved that also contributes to greater savings of the people in transporting. Along with this, with improvement in gender equality, women also enjoy the same facility in working in organizations and become financially independent. With the innovativeness in approach and risk taking capacity, women tend to elevate organizational positions to a prestigious level. It helps not only in making organizations productive and economically strong but also enhances the savings on organizational resources. Women tend to introduce modern appliances and techniques within organizations to make the best use of resources and look forward to non-wastage of resources. I have utilized several pieces of evidence in this research paper that support my approach towards women equality. I have also showcased certain statistical information that also supported my viewpoint that women equality enhances the economic progression of a country as well as to the entire globe.

References

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