Writing for the McKinsey Global Institute, Laura D. Tyson offers a list of steps that would increase the economic participation of women and increase long-term global growth.
Tyson notes that women account for half the global labor supply and 70 percent of consumption demand. But even though women have largely closed the gender gap with men on health and education, they continue to lag on economic participation by 10 to 25 percent — even in the world’s most gender-neutral nations.
The Organization for Economic Cooperation and Development has estimated that achieving parity in labor-participation would increase GDP growth by 12 percent over the next 20 years.
Tyson offers a list of policies that would help close the gender gap. Among them: equal legal rights in land ownership and inheritance; equal access to educational opportunities, from basic literacy through postgraduate training; the abolition of discriminatory practices in recruitment, retention, pay, and access to credit; and the elimination of tax policies that are disincentives to the labor-force participation of spouses.