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Critical Reasoning - Gender Equality Can Boost Economic Growth

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  • "Critical Reasoning2Gender Equality Can Boost Economic GrowthIn this research paper, I will be vividly discussing the impact of gender equality on economicgrowth and development. With the progressive attitude of the society, women nowadays areplaying..

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  • "Critical Reasoning2Gender Equality Can Boost Economic GrowthIn this research paper, I will be vividly discussing the impact of gender equality on economicgrowth and development. With the progressive attitude of the society, women nowadays areplaying a significant role in economic development of a country. As per the opinion of Aldermanand Yemtsov (2013), the growing importance of gender equality has focused towards botheducation and employment equality of females. In modern day scenario, females have overcomecertain geographical, financial, family responsibilities and child care like stereotyped barriers toprogress in the fields of their choice. They not only work shoulder to shoulder to male but alsoadd economic development to their career and organization. It is a prior obligation in today?scorporate world to provide jobs by qualification, education, and experience; rather than focusingon gender biases. Benería et al. (2015) commented that gender equality not only contributes toenhancing productivity and economic growth but countries and organizations those achieved ingender equality had maximized their economic potentiality and competitiveness. Theorganizations should also open up field jobs positions for women irrespective of thinking aboutany gender biases. In this paper, I will provide certain evidence and reviews that will help inunderstanding the impact of unbiased gender impartiality on economic growth and development. According to Chant and Sweetman (2012), decades ago, there were a high percentage ofgenderine qualities among all global countries. The gender inequality prevailed in all the sectorssuch as education, employment, salary scale, and promotions. At those times, women weresupposed to take care of their families, indulge them in child care and refrain themselves fromany work or education. It, therefore, resulted in non-contribution of women in the economicdevelopment of a country or organization. Even more, the organizations and world economysuffered stagnancyin their development due to similar and paralleledintelligence, rationality, andviewpoint from male counterparts. Cornwall and Rivas (2015)mentioned that the innovativeness,pioneering and ground-breaking ideas and thoughtswere falling short off due to non-involvementof women in business and industries. Till date, there are certain areas where gender gappersists.But, with time, the gender gaps across the regions are reducing rapidly, and women areworking hard in providing a significant contribution to global economic development.I havecompared the different reviews from the past and present regarding women?s impact andcontribution towards economic development. Dabla-Norris et al. (2015) stated that statistical 3reports have shown that the South Asian, Middle East, Sub-Saharan Africa andNorth Africancountries have achieved a good progress towardsgender equality. Women belonging from theseregions are competing well in all sectors of education, corporate jobs, entertainment and fieldjobs. Hence, this approach of women ensures both economic development and progression inliving standard of people. In this research work, I will be conferring and assessingcertain evidence that will emphasizemoreon gender equality. I will also extend my discussion on the contribution of gender equality in allsectors of employmentthat impacts to economic development and growth. As opined by Elborgh- Woytek et al. (2013), gender equality enhances and improves human capital that contributes toeconomic development. The highly educated females are capable of undertaking high-valueearning economic activities. They have an innovative way of thinking and rationalizingdecisionstaken in an organization. Their competitiveness and dedication towards their work is impeccableand hence relishes success due to their commitmenttowardswork. Moreover, as opined byGonzales, M.C., Jain-Chandra et al. (2015), due to gender equality, it motivates other females inthe society to pursue education and have a personal earning career. I have seen that certainAfrican and Asiatic countries, with the improvement in gender equality, more females are gettingeducated and seeking out in having a career. A study has revealed a fact that the femaleeducation rate in Sub-Saharan countries has raised from 0.38% to .81% in the lastdecade(Hughes et al. 2015).This economic advancement and growth have a positive impact onthe society. Women are likely to takefewer children, unlike the past that helped in declination ofpopulation growth. As aresult, it contributes to loweringof global food scarcity and economicinequality across the world. Jayachandran (2014) also had an opinion that gender equality also contributes towards high laborproductivity that also eventually aids to economic development and progression. With theimprovement in women?s? participation in labor markets, the overall scenario ofmonetaryprogressionis making headway towards success. I have seen that the femaleparticipation in labor market is increasing considerably and is significantly impacting on globalfinancial scale. The product based markets have become more competitive and viable withfostering of genderinequality. Female entrepreneurs?use their exclusive and feasible experiencesand knowledge to make their organizations reach high in revenue collection that makes impact 4on global economy. According to Kabeer and Natali (2013), there are still certain unwrittendiscriminationsin certain parts of the world regarding female entrepreneurship. In these areas,treatment of women is different to that of men in terms of admission to institutions, propertyrights, taxation, access to credit and their ability in starting up a business. But, with the equalinvolvement of women in organizations and entrepreneurship in developed and rapidlydeveloping countriesis surely encouraging woman from under-developed and slowly developingcountriesto geteducated and become economically independent. With the change in time,I havenoticed that women discrimination rate is reducing significantly from 2.1% to 0.65% in certainAsiatic and African countries (Kinoshita and Guo 2015). This women discriminationimpedesprogression ineconomic development; hence it has to be eradicated from the society as soon aspossible. In addition to this, Leclaire (2015) stated that gender equality fosters highagriculturalproductivity that also reduces comprehensiveeconomic growth and development.Gender inequality ordiscrimination makes agricultural productivity stagnant to maximum extent.It is due to the fact that women do not have the opportunity to make the best use of resources likefertilizer, labor and credit extension. The overall agriculturalresponsibility falls on men thatconsiderably reduces the overall productivity of food grains; hence low contribution towardsglobal good production. So, it is necessary to involve women in agricultural productivity.According to Licumba et al. (2015), the low-income countries, those are depending more onagriculture than industries should engagewomen in agricultural activities. It will definitelyelevate the production of grains and other food materials; that will eventuallybring into morefamily income. Moreover, social institutions those are providing training to farmers for betterusage of machines and fertilizers should also engage women in thesesessions. So, cooperatingwith each other both male and female farmers can engage together in agricultural production thatwill enhance theirfamily income along with reduce global food production. As a result, it willdefinitely improve their financial and living status(Nabi et al. 2016). I have noticed thatnowadays certain Asiatic and Saharan Africa countries are engaging women in agriculturalactivities and are definitely contributing towards economic development. While conducting this research work, I came across the fact that with improvedgenderequality,investment in physical capital also increases. As mentioned by Ratha (2013), with the increased 5engagement of both men and females in semi-industrialized countries, the overall productivityincreases with the productive workforce. Women should be given equal power, position andfacility for enhancing their contribution and usage of knowledge in field work sections likeconstruction, manufacturing, hard-core sales and heavy production industries and factories.These increased opportunities to women not only generate growth but alsoincreases thepredictable rate ofreturns. As a result, this increased growth also enablescountries andorganizations to adopt highly dynamic and productivetechnologies. As opined by Razavi andTurquet (2016), through enhanced technologies, it also aims towardsimproving femalewages;that also improves savings and high lifestyle of general civilians. Both male and femalecan contribute equally to the household expenses that impact greatly on overallhouseholdsavings.Even more,I have also came across that in certain Asiatic and African countries, theoverallhousehold income and savings rate have enhanced due to equal involvement of men andwomen at workplace. It, therefore, results in improved globaleconomicand standard of living ofthe global citizens. Roberts (2015) commented that with enhancement in gender equality, the economic status of acountry stabilizes and is more open and flexible towards trading and business. Previously, due todiscrimination against women, they were barred from participating in any kind of trade andbusiness sectors. It, therefore, localized and put into stagnant the overall business. The sameoutlooks, opinions and perceptive were circulating within the several organizations;thosewereimpacting negatively on the overall economic and social development of the countries. But,as stated by Roberts and Soederberg (2012), with the encouragement of gender equality, it isseen that stability in global economy has also been improved. Innovative and path-breakingideas, thoughts, opinions and viewpointstowardsany business adoption or change arecomingacross with women involvement. Females are well manipulative and can even take-up risks thathelp in achieving great success to the organizations. Moreover, women are quite progressivetowards savings hat also helps in maintaining overall household expenses ad also leverage thequality of living. I have learned that better will be the gender equality;development in all sectorsof life will be enhanced. While I was conducting more research on gender equality?s impact on economic development; Icame across the fact that due to advancement in gender equality, infrastructuraldevelopment gets "

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