Gender Inequality and Economic Development in Developing Economies

Abstract

Purpose: The aim of the study was to assess the gender inequality and economic development in developing economies. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Gender inequality poses significant challenges to economic development in developing economies. Numerous studies have underscored the detrimental effects of unequal gender participation in the economy, including limited access to education and employment opportunities for women, as well as disparities in wages and financial resources. These disparities not only impede the full realization of human potential but also hinder overall economic growth and stability. Furthermore, gender inequality perpetuates a cycle of poverty by restricting women's ability to contribute effectively to household incomes and decision-making processes. Initiatives aimed at addressing gender disparities, such as improving access to education and healthcare for women, promoting women's entrepreneurship, and implementing policies to ensure equal pay and employment opportunities, have been shown to positively impact economic development. By fostering gender equality, developing economies can unlock the full potential of their human capital, stimulate innovation and productivity, and achieve more inclusive and sustainable growth trajectories. Implications to Theory, Practice and Policy: Human capital theory, feminist theory and institutional theory may be use to anchor future studies on assessing the gender inequality and economic development in developing economies. Developing economies should prioritize investments in gender-sensitive education and healthcare systems to ensure equitable access and outcomes for all. Policymakers in developing economies should enact and enforce laws that protect women's rights and promote gender equality in all spheres of life.