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Capital Account Liberalization, Structural Change, and Female Employment

Author

Listed:
  • Akin Selin Secil
  • Montecino Juan Antonio

    (American University, Washington, DC, USA)

Abstract

This paper studies the effects of capital account liberalization on female employment and its implications for structural change in developing countries. Using a large industry-level panel of 88 low and low-middle-income countries, we provide evidence that episodes of financial liberalization lead to large declines in female employment in tradable sectors. These declines are driven primarily by structural reallocation effects between sectors, although we also find modest changes in the gender composition of employment within sectors, depending on the sample definition. Based on this evidence, we build a stylized model of a small open economy with tradable and nontradable sectors featuring occupational segregation across genders. We use this framework to study the impact of capital inflows and the female wage penalty on female employment in tradables and the real exchange rate. Our model also implies that when the female burden of non-market home production is sufficiently large, capital inflows will disproportionately hurt female employment relative to male employment.

Suggested Citation

  • Akin Selin Secil & Montecino Juan Antonio, 2023. "Capital Account Liberalization, Structural Change, and Female Employment," Journal of Globalization and Development, De Gruyter, vol. 14(2), pages 223-252, December.
    • Handle: RePEc:bpj:globdv:v:14:y:2023:i:2:p:223-252:n:6
    DOI: 10.1515/jgd-2023-0004
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    More about this item

    Keywords

    financial liberalization; capital flows; female employment; structural change; F32; F38; F63; J16; J21;
    All these keywords.

    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F38 - International Economics - - International Finance - - - International Financial Policy: Financial Transactions Tax; Capital Controls
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure

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