Gender Mainstreaming in Asia Through Financial Empowerment
DOI:
https://doi.org/10.17010/aijer/2024/v13i4/174045Keywords:
gender mainstreaming
, financial inclusion, Asian women, labor force participation.JEL Classification Codes
, G21, J16, O16Paper Submission Date
, July 22, 2024, Paper sent back for Revision, October 1, Paper Acceptance Date, October 15, 2024Abstract
Purpose : This study examined the importance of financial empowerment in Asian economies for enabling gender mainstreaming and lowering gender disparities. Women are given more autonomy and improved decision-making authority in the home when gender disparities in financial empowerment are closed. This study highlighted that better financial access and usage can lead to faster progress toward gender equality across economic and social domains.
Methodology : Using the World Bank’s Global Findex Database (2017–2021) for 14 middle-income economies in Asia, an index for financial inclusion (FI) was constructed using principal component analysis (PCA). The co-movement between the FI index and developmental outcomes for women pertaining to employment, entrepreneurship, and political participation showed how gender equity moves in accordance with FI for Asian women.
Findings : The paper found the existence of a significant gender gap in financial access and usage in these economies. Moreover, a significant positive correlation was found between the FI index for women and their participation in the labor force and entrepreneurial activities, providing policy implications for gender mainstreaming.
Practical Implications : The paper recommended policy initiatives to foster more inclusive financial systems that empower Asian women and promote sustainable economic development in the region. Gender mainstreaming and women’s financial empowerment in Asia can be strengthened by increasing the focus on policies specifically designed for women, promoting financial and digital literacy among women, and fortifying the collection of sex-disaggregated data.
Originality : Unlike prior research on FI and among women, the current work focused on its relationship with the labor market and public participation outcomes for women, thereby enriching the literature on gender mainstreaming.
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