The impact of gender equality policies on economic growth

Jinyoung Kim, Jong-Wha Lee and Kwanho Shin

CAMA Working Papers from Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University

Abstract: This paper introduces a model of gender inequality and economic growth that focuses on the determination of women's time allocation among market production, home production, child rearing, and child education. The theoretical model is based on Agenor (2016), but differs in several important dimensions. The model is calibrated using microlevel data of Asian economies, and numerous policy experiments are conducted to investigate how various aspects of gender inequality are related to the growth performance of the economy. The analysis shows that improving gender equality can contribute significantly to economic growth by changing females' time allocation and promoting accumulation of human capital. We find that if gender inequality is completely removed, aggregate income will be about 6.6% and 14.5% higher than the benchmark economy after one and two generations respectively, while corresponding per capita income will be higher by 30.6% and 71.1% in the hypothetical gender-equality economy. This is because fertility and population decrease as women participate more in the labor market.

Keywords: gender inequality; economic growth; overlapping generations model; labor market; human capital accumulation (search for similar items in EconPapers)
JEL-codes: E24 E60 J13 J71 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2016-05
New Economics Papers: this item is included in nep-dem, nep-dge, nep-gro, nep-lma, nep-mac and nep-sea
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:een:camaaa:2016-29

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