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Natalija Novta and Joyce Wong
Women across the world remain an underutilized resource in the labor force. Participation in the labor force averages around 80 percent for men but only 50 percent for women – nearly half of women’s productive potential remains untapped compared to one-fifth for men. Latin America and the Caribbean (LAC), as a region, saw the largest gains in female labor force participation (LFP) in the world during the last two decades. Women in LAC are becoming increasingly active in paid work, closing the gap with men and catching up to their counterparts in advanced economies at an impressive rate. In this paper, we document the recent trends in female LFP and female education in the LAC region, discuss the size of potential gains to GDP from increasing female LFP and policies which could be deployed towards this goal.
Ms. Janet Gale Stotsky, Sakina Shibuya, Ms. Lisa L Kolovich, and Suhaib Kebhaj
This paper examines trends in indicators of gender equality and women’s development, using evidence derived from individual indicators and gender equality indices. We extend both the United Nations Development Program’s Gender Development Index and Gender Inequality Index to examine time trends. In recent decades, the world has moved closer to gender equality and narrowed gaps in education, health, and economic and political opportunity; however, substantial differences remain, especially in South Asia, the Middle East, and sub-Saharan Africa. The results suggest countries can make meaningful improvements in gender equality, even while significant income differences between countries remain.
Ms. Janet Gale Stotsky

(see “Budgeting with Women in Mind,” F&D , June 2007). This special issue of F&D also includes a Straight Talk column on women at work by IMF Managing Director Christine Lagarde—one of the most powerful women in the world, according to Forbes magazine—and short interviews with prominent women in economics and business from around the world on what led to their current success. Janet G. Stotsky is an Advisor in the IMF’s Office of Budget and Planning who has been researching the economics of gender since the mid-1990s . Reference: Duflo , Esther

International Monetary Fund

and Evolution of Industry ,” Econometrica 50 ( 3 ): 649 – 70 . Kaufmann , D. , Mehrez G. , and Gurgur T. , ( 2002 ), “ Voice or Public Sector Management? An Empirical Investigation of Determinants of Public Sector Performance Based on Survey of Public Officials ,” Unpublished Manuscript , the World Bank. Katz , E. G. , and Correia M. , ( 2001 ). The Economics of Gender in Mexico: Work, family, state, and market Directions in Development series. Washington, D.C. World Bank. Krebs , T. , and Maloney , W.F. , ( 1999

Natalija Novta and Joyce Wong

. “ Distortions, Infrastructure, and Female Labor Supply in Developing Countries .” European Economic Review ( 2016 ). Cuberes , David , and Marc Teignier . “ Aggregate Effects of Gender Gaps in the Labor Market: A Quantitative Estimate .” Journal of Human Capital 10 . 1 ( 2016 ): 1 – 32 . Cunningham , Wendy . “ Breadwinner versus caregiver: Labor force participation and sectoral choice over the Mexican business cycle .” The economics of gender in Mexico: Work, family, state, and market ( 2001 ): 85 – 132 . Currie , Janet , and Enrico

International Monetary Fund. African Dept.

, 2017d ; “ Rwanda-Selected Issues Paper ” IMF Country Report no.17/214 , Washington, D.C . IMF , 2019; “ Nigeria-Selected Issues Paper ” IMF Country Report no.19/93 ; Washington, D.C . IMF , 2019; “ Sierra Leone-Selected Issues Paper ” IMF Country Report no. 20/117 ; Washington, D.C . Jacobsen , J. P. , 1998 . “ The Economics of Gender ” Vol. 631207279 ; Malden, MA : Blackwell . Jain-Chandra , S. , K. Kochhar , M. Newiak , Y. Yang , and E. Zoli , 2018 ; “ Gender Equality: Which Policies Have the Biggest Bang for

Vivian Malta, Angelica Martinez, and Ms. Marina Mendes Tavares

Labour Review 153 , No. 2 , pp: 173 – 207 . Grown , Caren , and Imraan Valodia , 2010 , “ Taxation and Gender Equity: A comparative analysis of direct and indirect taxes in developing and developed countries ”. IDRC . Vol. 58 . Guner , Nezih , Remzi Kaygusuz , and Gustavo Ventura. , 2011 . “ Taxation and household labour supply ”. The Review of economic studies 79 , No. 3 , pp: 1113 – 1149 . Jacobsen , J. P. , 1998 . “ The economics of gender ”. Vol. 631207279 , Malden, MA : Blackwell . Kalb , Guyonne . 2018

Vivian Malta, Angelica Martinez, and Ms. Marina Mendes Tavares
Female-to-male employment in Senegal increased by 14 percentage points between 2006 and 2011. During the same period years of education of the working age population increased 27 percent for females and 13 percent for males, reducing gender gaps in education. In this paper, we quantitatively investigate the impact of this increase in education on female employment in Senegal. To that end, we build an overlapping generations model that captures barriers that women face over their life-cycle. Our main findings are: (i) the improvement in years of education can explain up to 44 percent of the observed increased in female-to-male employment ratio and (ii) the rest can be explained by a decline in the discrimination against women in the labor market.
Ms. Janet Gale Stotsky
This survey examines the implications of gender differences in economic behavior for macroeconomic policy. It finds that reducing gender inequality and improving the status of women may contribute to higher rates of economic growth and greater macroeconomic stability. Women's relative lack of opportunities in developing countries inhibits economic growth, while, at the same time, economic growth leads to a reduction in their disadvantaged condition. Equality of opportunity in labor and financial markets is critical to enabling women to take full advantage of improved macroeconomic conditions. Macroeconomic policies should take into account the benefits of reducing gender inequalities, especially in the lowest-income countries where these differences are most pronounced, and should consider the potentially harsher short-term effects of economic austerity measures on women to avoid exacerbating gender inequalities.