Role of Woman in Economic Development | Essay

Running head: ROLE OF WOMAN IN ECONOMIC DEVELOPMENT
ROLE OF WOMAN IN ECONOMIC DEVELOPMENT
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ROLE OF WOMAN IN ECONOMIC DEVELOPMENT1
ROLE OF WOMAN IN ECONOMIC DEVELOPMENT
Globally, over 2.7 billion woman are legally constrained from having choice of jobs
as men. As per report based on 2018, 104 economy out of 189 still have laws preventing
woman from working in specific jobs. The United Nation’s 2030 agenda remains focused on
gender equality and woman empowerment yet gender gaps remains large and persistent. This
agenda also focused to remove unpaid work of women’s (Mehra 2019). Gender differences
and regulations can influence both developed and developing countries, influencing the
economy massively. Male workers instead of female workers dominated the core sectors of
the economy such as power and infrastructure, mining industry and banking and services
since 1900’s (Rakowski 2018). Women economic empowerment is a central by which
nations can realize economic improvement and gender equality. Woman empowerment
includes woman’s ability to participate in the existing industry. Participation of woman
empowerment is necessary to improve the production and decision making of a sector or
industry. Removing gender gaps and empowering woman in the economy will assist
developed and developing nations to achieve their sustainable development efficiently
(Dworkin, Gandhi and Passano 2017).
As the name suggests, Woman empowerment is also about distributing power to all
the women of the world and clarifying women about their rights and responsibilities, which
are invested upon them by law. Woman empowerment improves the decision making as well
as production of the work in any industry. Woman empowerment increases economic
diversification as well as income quality in addition to other possible positive outcomes
(Desai and Mariyam 2018). Increasing the woman empowerment and development rates in
countries like Sweden and Australia improved their overall GDP. However, it has been found
that growth does not lead to gender based equality automatically, it costs 15% of GDP of the

ROLE OF WOMAN IN ECONOMIC DEVELOPMENT2
country. From a recent study, it has been found that companies greatly advantage from
growing employment and leadership opportunities for women. Woman empowerment
improved the overall growth and effectiveness of the organisation. It is anticipated that
companies with three or more woman in senior management functions score greater in all
area of organisational development. One third of the woman employment globally persists in
agriculture including foresting and fishing (Murillo 2018). The share of woman in agriculture
is only 9.5 globally in upper middle income based countries and 2.6 in higher incomes based
countries. All across the world, woman farmers and workers have less access, control and
decision making power compared to men. Land is the most significant economic asset hence
woman only has 12.8 percent of agricultural landholders across the world. Over 80% of
households, woman workers are responsible for water collection. The amount of pay to
woman workers compared to men are very low and this could impact the economy of the
country massively as woman empowerment are increasing worldwide. Women are still
underrepresented in the parliament of different nations and still represents only 10% of the
representatives. Studies found that companies with greater gender equality have been able to
achieve their goals successfully and it has been found that woman workers are more efficient
than men to solve problems that are more complex. Woman professionals are more
competitive and focused in the work environment, encouraging men to perform well and
excel than their coworkers which overall improves the organizational efficiency (Buvinić and
Furst-Nichols 2016). Other than this, some specific advantages of woman empowerment can
be noted below.
Social
Still now, in the developing and underdeveloped country, woman has forced to work
and has been the victim of domestic violence. Woman empowerment will reduce the
domestic violence as educated woman knows their rights (Haugh and Talwar 2016).