Paving way for more women in workforce would boost economic growth, report says
LONDON—Improving gender equality could significantly boost growth in advanced economies over the coming decades, according to Citigroup Inc.
Tackling the factors excluding women from work would achieve more than structural reforms currently proposed in the U.S. and Europe, Citi researchers including chief global political analyst Tina Fordham and head of global economics Ebrahim Rahbari said in an 84-page report published Thursday.
Such factors include the burden of unpaid care work, gender discrimination and violence, a lack of legal protection and reduced access to financial services, they said. Removing those barriers could boost OECD growth by between 6 per cent and 20 per cent, they estimated.
“It’s about the sheer scope for growth — 6 per cent is what we arrived at for advanced economies; for emerging market countries it’s even higher,” Fordham said. “So why aren’t we going for it?”
