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Reviews the position of women in society, with particular reference to their educational achievements and employment opportunities. Focuses on the potential of microcredit programmes and how women entrepreneurs affect the global economy. Assess where rural women stand in the development process today.
This book explores gender diversity in the financial system, focusing especially on regulations, disclosure standards, theories and literature on the relationship between women in atypical positions and bank performance, female representation in governance bodies of banks and insurance companies, the gender pay gap and the gender balance in Central Banks. The topics are examined highlighting the progress towards gender equality (SDG 5) and the room for improvement in financial services with implications for policymakers, regulators and researchers in both finance and gender studies.
Women are underrepresented at all levels of the global financial system, from depositors and borrowers to bank board members and regulators. A new study at the IMF finds that greater inclusion of women as users, providers, and regulators of financial services would have benefits beyond addressing gender inequality. Narrowing the gender gap would foster greater stability in the banking system and enhance economic growth. It could also contribute to more effective monetary and fiscal policy. New evidence suggests that greater access for women to and use of accounts for financial transactions, savings, and insurance can have both economic and societal benefits. For example, women merchants who opened a basic bank account tend to invest more in their businesses, while female-headed households often spend more on education after opening a savings account. More inclusive financial systems in turn can magnify the effectiveness of fiscal and monetary policies by broadening financial markets and the tax base. The paper also studies the large gaps between the representation of men and women in leadership positions in banks and in banking-supervision agencies worldwide. It finds that, shockingly, women accounted for less than 2 percent of financial institutions’ chief executive officers and less than 20 percent of executive board members. The analysis suggests that, controlling for relevant bank- and country-specific factors, the presence of women as well as a higher share of women on bank boards appears associated with greater financial resilience. This study also finds that a higher share of women on boards of banking-supervision agencies is associated with greater bank stability. This evidence strengthens the case for closing the gender gaps in leadership positions in finance.
Study on the role of microfinance in building up economic and democratic capacity of women in India.
Using a new dataset, we measure the large gap between the representation of men and women in leadership positions in banks and bank supervision agencies worldwide. Women occupied less than 2 percent of bank CEOs positions, and less than 20 percent of the board seats in more than 80 percent of the observations across banks over time. Contrary to common perceptions, many low- and middle-income countries have a higher share of women in bank boards and banking supervision agency boards compared to advanced economies. Econometric analysis suggests that, controlling for relevant bank and country-specific factors, the presence of women as well as a higher share of women on bank boards is associated with greater bank stability, as represented by higher z-scores and lower nonperforming loan ratios. We also examine the share of women on boards of banking supervision agencies by compiling a new dataset. We find that it is associated with greater bank stability. Further research is needed to identify specific mechanisms through which these stability benefits are achieved, and to understand the conditions that have facilitated entry of women into leadership roles in banks and supervision agencies.
Prepared for the Council on Economic Priorities.
Delving into the effects of microfinance in both rural and urban communities, this book will be of interest to researchers of women studies, microfinance, and development economics.
Why it takes more than microloans to empower women and promote sustainable, inclusive economic growth. Nearly one billion women have been completely excluded from the formal financial system. Without even a bank account in their own names, they lack the basic services that most of us take for granted—secure ways to save money, pay bills, and get credit. Exclusion from the formal financial system means they are economic outsiders, unable to benefit from, or contribute to, economic growth. Microfinance has been hailed as an economic lifeline for women in developing countries—but, as Mary Ellen Iskenderian shows in this book, it takes more than microloans to empower women and promote sustainable, inclusive economic growth. Iskenderian, who leads a nonprofit that works to give women access to the financial system, argues that the banking industry should view these one billion “unbanked” women not as charity cases but as a business opportunity: a lucrative new market of small business owners, heads of households, and purchasers of financial products and services. Iskenderian shows how financial inclusion can be transformative for the lives of women in developing countries, describing, among other things, the informal moneylenders and savings clubs that women have relied on, the need for both financial and digital literacy (and access) as mobile phones become a means of banking, and the importance of women’s property rights. She goes on to make the business case for financial inclusion, exploring the ways that financial institutions are adapting to help women build wealth, access capital, and manage risks. Banks can do the right thing—and make money while doing so—and all of us can benefit.