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Gender

Gender-smart development starts with the right questions (Pt. 2 of 2)

Steven R. Dimitriyev's picture
See Pt. 1: Gender-smart development starts with the right questions

We had great difficulty finding any married female business owners—and learned that under national laws, a married woman couldn’t register a company, open a bank account, operate a business, or own property without the prior written consent of her husband.

Gender-smart development starts with the right questions (Pt. 1 of 2)

Steven R. Dimitriyev's picture
WASHINGTON, May 14, 2015—Six hundred million jobs. That’s what the world must generate over the next decade just to keep up with population growth. And that’s not even counting the 200 million or in developing countries who are jobless now, and the millions more, mainly women, who are either underemployed or shut out of the workforce entirely.

Most of these new jobs will come from the private sector, so private entrepreneurship solves part of the problem. But unleashing the untapped productivity of female entrepreneurs will be essential.

Could the UN’s new Progress of the World’s Women provide the foundations for feminist economic policy?

Duncan Green's picture

London launch of UN Women’s new flagship report,Progress of the World’s Women 2015-16Yesterday I went to the London launch of UN Women’s new flagship report, Progress of the World’s Women 2015-16, in the slightly incongruous setting of the Institution of Civil Engineers – walls adorned with portraits of bewigged old patriarchs from a (happily) bygone era (right).

The report is excellent. These big multilateral publications are usually a work of synthesis, bringing together existing research rather than breaking new ground. And that’s fine; it’s really important that a UN body has pulled such an excellent range of research together and made it accessible to policy makers. Gender and development debates suffer from a fair number of unsubstantiated claims and pretty dodgy stats (don’t get me started), and this report feels like something you can trust – I hope someone will go through it and pull out every major stat and graphic.

But the overall approach is both new and exciting, in that it applies an explicitly human rights approach to economic policy. Laura Turquet, UN Women researcher and report manager, summarized this as ‘bringing together human rights and economic policy-making to ask ‘what is the economy for?’’

This is a big deal, because the normal approach to gender and economic policy is incredibly reductive and instrumental – educate girls and get women into the workforce because it boosts growth! It ignores whether that will improve the lives of the said women or just pile more burdens onto their pre-existing roles as carers (of children, old people, neighbours), home maintainers etc etc.
 

Financial risk, resilience and realism: ‘New Economic Thinking,’ amid ominous tremors from the eurozone

Christopher Colford's picture



How safe and how stable is today’s international financial system? Eight years since the global bond markets started quaking – and almost seven years since the Lehman Brothers debacle triggered a worldwide meltdown – is the financial system resilient enough to recover from sudden shocks?

These are not just rhetorical questions, but urgent ones. Amid the ominous recent tremors within the European Union – with the intensifying risk that insolvent Greece could soon “crash out” of the eurozone if it fails to extract more bailout money from its exasperated rescuers – the global financial system may be about to get another real-life lesson in riding out traumatic turbulence.

So mark your calendars for this Wednesday, May 6, when a top-level conference with some of the world’s leading financial luminaries will be livestreamed online at (click here) this website from 9 a.m. to about 5 p.m. Many of the world’s top regulators, policymakers and scholars – brought together by the Institute for New Economic Thinking – will gather at the International Monetary Fund for a day-long exploration of “Finance and Society.”

A sense of déjà vu might seem to surround the conference agenda, especially for World Bank and IMF colleagues who recall the nonstop financial anxiety that consumed the Spring Meetings just a few weeks ago. A similar economic dread reportedly pervaded last week’s Milken Global Economic Conference in Los Angeles.

Yet the INET conference may be poised to offer a somewhat different perspective. The Spring Meetings featured the familiar lineup of business-suited, grim-and-greying Finance Ministers – mostly male, mostly middle-aged, mostly mainstream moderates – but the group of experts at the “Finance and Society” conference will reflect a welcome new dose of diversity. Every major speaker on the agenda is a woman.

The economists at the pinnacle of the world’s most powerful financial institutions – Christine Lagarde of the IMF and Janet Yellen of the U.S. Federal Reserve System – will keynote the conference, and the proceedings will include such influential financial supervisors as Sarah Booth Raskin of the U.S. Treasury and Brooksley Born and Sharon Bowen of the U.S. Commodity Futures Trading Commission. There’ll also be a pre-conference speech by the woman who has suddenly galvanized the Washington economic debate: No, not Hillary Clinton, but Senator Elizabeth Warren.

The new global roster of financial leaders – in this conference's case, all of them women – illustrates how economic policymaking is now, at last, drawing on the skills of an ever-wider-ranging talent pool. The economic expertise featured this week is bound to mark a positive step forward, considering the ruinous impact of the recent mismanagement by middle-aged mainstream men. (Sorry, guys, but can you really blame people for noticing that the pale-stale-and-male crowd allowed the world to drift toward the Crash of 2008?)

This week’s conference agenda is admirably forthright about the challenge: “Complexity, special interest, and weak systems of governance and accountability continue to interfere with the ability of the financial system to serve society's needs.” With Lagarde and Yellen setting the tone – and with Warren adding an injection of populist vigor – this week’s INET conference seems likely to offer some imaginative insights that go beyond the familiar Spring Meetings formula.

If ever there were a time when an INET-style dose of “new economic thinking” might be needed, it’s now. Growth is sluggish and sometimes even stagnant in many developed nations, amid what Largarde calls “the new mediocre.” Markets are fragile and currencies are volatile in many developing countries. A commodity-price slump may drain the coffers of many resource-rich but undiversified economies. As mournful pundits have been lamenting seemingly ad infinitum and sans frontières, the global economy is suffering from a prolonged hangover after its pre-2008 binge of irrational exuberance.

As if the worries about “secular stagnation” were not enough, there’s also the tragedy of Greece, where an economic calamity has unfolded like a slow-motion car wreck as financial markets breathlessly await the all-too-predictable collision. Regular readers of this blog will surely have noted that fears of Greece’s potential crashout from the eurozone have been nearing a crescendo – and the possible default-to-the-drachma drama may soon reach its catharsis.

Three Lessons Learned on the Road to Gender Equality

Bahar Alsharif's picture
What is a game changer for women in business and management? That was the topic on everyone's mind at the Confederation of British Industry (CBI) HQ in London this week. I had joined private sector leaders, including representatives from employer organizations around the world, for a one-day conference organized by CBI, the International Finance Corporation (IFC), and the International Labour Organization (ILO). Together, we reflected on latest research, shared best practices, and identified approaches to overcoming "stubborn bottlenecks" in achieving greater gender diversity at top. 
 

Lifting the lid on the household: A new way to measure individual deprivation

Duncan Green's picture

Guest post on an important new initiative, the Individual Deprivation Measure, from Scott Wisor, Joanne Crawford, Sharon Bessell and Janet Hunt.

Woman in her home. Kaski, NepalYou don’t have to look far to find assertions that up to 70% of the world’s poor are women ‑ despite Duncan’s efforts to show that the claim cannot be substantiated.

Just last month, ONE launched a new campaign called “Poverty is Sexist”, drawing on star power to bring attention to the issue of women’s poverty.

ONE didn’t use the 70% stat, but implied that poverty is feminized. Yet the reality is that it is still not possible to say whether women are disproportionately poor ‑ despite widespread calls  for better sex-disaggregated statistics.

Why? Because both monetary measures of poverty such as the International Poverty Line and multidimensional measures such as the Multidimensional Poverty Index continue to use the household as the unit of analysis. This assumes that everyone in a given household is equally poor or not poor – and that’s a big problem.

Not to mention concerns about the gendered differences in the experience of poverty. How do you price the value of being free from violence or securely accessing family planning?

These are not small problems. A great deal hangs on how we measure social progress. Are development programs working? Do anti-poverty policies make a difference? Is foreign aid alleviating poverty? Evaluating households makes it impossible to see how different members of the household are doing. And failing to assess dimensions of life that are particularly important to poor women, or men, limits our ability to show whether and how their poverty differs.

So what to do? Well, despite heated debates about measuring global poverty, something of a consensus has emerged. Most experts now agree that monetary poverty measurement should be complemented by multidimensional measurements. The individual, not the household, should be the unit of analysis. Poverty measurement should reflect the views and priorities of poor people. And in so far as possible, measurement should provide meaningful comparisons across contexts and over time.

PabsyLive: When Innovation Works

Mehreen Arshad Sheikh's picture
PabsyLive with Charles Bolden of NASA

When my colleague and friend Pabsy Pabalan informed me that she was going to cover the 2015 World Bank Group-International Monetary Fund Spring Meetings, I thought she meant producing blogs or writing articles. But her plan was a little more unusual and fresh. Pabsy was on a mission to explore the other side of the meetings, interview participants, and educate a younger audience by producing short daily videos. As someone who is toward the younger side (or would like to think so), I was looking forward to watching videos with a different approach on World Bank Group events. I soon became a huge fan of #PabsyLive.

Why are women farmers in Sub-Saharan Africa less productive?

Kevin McGee's picture
Researchers have documented a wide array of gender disparities in sub-Saharan Africa that have important implications for individual and household well-being. Perhaps one of the most significant disparities is in agricultural production, the primary economic activity for the majority of the population in sub-Saharan Africa. Closing this gender gap in agricultural productivity would not only improve the welfare of female farmers but could also have larger benefits for other members of the household, especially children.

A Food System that can feed everyone, everyday, everywhere

Juergen Voegele's picture



Whether you’re a food producer or consumer, and no matter what part of the world you live in, I’m sure we can agree: The world needs a food system that can feed everyone, everyday, everywhere.

A food system that works for everyone can also create jobs and raise the incomes of smallholder farmers and rural residents who are 78 percent of the world’s poor people. After all, growth originating in agriculture is proven to be 2 to 4 times more effective at reducing poverty than growth originating in other sectors. An effective food system can also provide better nutrition, steward the world’s natural resources, and even be a part of the solution to climate change.
 

Closing the gender finance gap: Three steps firms can take

Heather Kipnis's picture
Despite eye-opening market potential — women control a total of $20 trillion in consumer spending —  they have somehow escaped the notice of the private sector as an engine for economic growth.  Women are 20 percent less likely than men to have an account at a formal financial institution. Yet a bank account is the first step toward financial inclusion.

Why is it important for the private sector to help with this first step?
 
In increasingly competitive global markets, companies are searching for ways to differentiate themselves, to deepen their reach in existing markets and to expand to new markets. Greater financial access for women would yield a growing market opportunity with phenomenal profit potential for companies. The size of the women’s market, and the resulting business opportunity, is striking:
 
  • Business credit: There is a $300 billion gap in lending capital for formal, women-owned small businesses. Of the 8 to 10 million such businesses in 140 countries, more than 70 percent receive few or no financial services.
  • Insurance Products: The Female Economy, a study in the Harvard Business Review, reported that the women’s market for insurance is calculated to be worth trillions of dollars.
  • Digital payments: Women’s lack of cellphone ownership and use means that millions cannot access digital-payment systems. Closing the gap in access to this technology over the next five years could open a $170 billion market to the mobile industry alone.
 

Greater financial access for women would yield a growing market opportunity with phenomenal profit potential for companies.


For the past several years at IFC, I’ve been working with the private sector, namely financial institutions, to address the supply-and-demand constraints that women face when trying to access the formal financial system. IFC tackles these constraints in three ways:
 
  • Defining the size of the women’s market, female-owned and  -led SMEs, and as individual consumers of financial services
  • Showing financial institutions how to tap into the women’s market opportunity by developing offerings that combine financial products, such as credit, savings and insurance, with non-financial services such as training in business skills
  • Increasing women’s access through convenient delivery channels, such as online, mobile and branchless banking


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