Are Women Important For Economic Development? An Evidence On Women’S Participation In Labor Market And Their Contribution To Economic Growth In 83 World Countries
A kind of gender revolution is passing through various countries in various continents. By being offered free access to educational infrastructure, women become better educated, improve their skills and capabilities, gain possibilities to enter the labour market and use financial resources to start up their own businesses. All these bring women to play a role on the labour market and significantly contribute to overall socio-economic development. The women entrepreneurship unfolds various kinds of endowments concerning economic possibilities in wealth creation. The main scope of the paper is to identify and assess the role of gender equity and uniquely women entrepreneurship in the process of socio-economic development. Implying a set of variables, treated as proxies of gender equality and women entrepreneurship, we estimate their coherence with socio-economic development. In the empirical part, we use a cross-country panel data, for 83 economies, which are derived from World Development Indicators 2012 database International Monetary Fund World Economic Outlook Database April 2013. The time coverage is set for 1990-2011.
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