Women’s Economic Rights: Global Gaps & Growth Potential | Project Syndicate

The Unfinished Revolution: Why Closing the Gender Gap is Crucial for Global Growth

The World Bank’s latest Women, Business and the Law 2026 report delivers a stark message: no country provides women with the same legal rights as men. This isn’t merely a matter of fairness; it’s a significant drag on economic potential, particularly in developing economies. The gaps are most pronounced in areas of safety, entrepreneurship, and access to childcare.

Japan’s “Womenomics” Experiment: A Case Study

In 2012, Japan, grappling with a shrinking workforce and economic stagnation, embarked on an ambitious program known as “Womenomics.” Spearheaded by then-Prime Minister Shinzo Abe, the initiative aimed to boost economic growth by increasing female labor force participation.

The reforms included expanding childcare availability, enhancing parental abandon policies, and offering tax incentives to companies actively promoting women in the workplace. The results were notable. By 2019, approximately 2.5 million additional women had entered the workforce. Female labor force participation climbed to 67%, and job placement rates for female graduates approached universal levels, as reported by the OECD.

Beyond Japan: Global Trends and Remaining Challenges

Japan’s experience demonstrates a clear correlation: removing barriers to women’s workforce participation leads to improved economic outcomes. However, the World Bank report highlights that progress remains uneven globally. The biggest hurdles aren’t always legal; they often involve social norms and practical limitations like access to affordable childcare and protection from violence.

The report underscores that legal disparities impact a woman’s ability to get a job, start a business, and earn equal pay. These limitations aren’t just individual setbacks; they represent a substantial loss of potential economic growth for nations.

The Impact on Entrepreneurship

For women entrepreneurs, the challenges are particularly acute. Legal restrictions on property ownership, access to credit, and contract enforcement can severely hinder their ability to start and grow businesses. This is especially true in developing economies, where women-owned enterprises often represent a significant portion of the informal sector.

Safety and the Workplace

The World Bank report as well emphasizes the critical importance of safety. Without adequate legal protections against violence and harassment, women are less likely to participate fully in the workforce. This includes not only physical safety but also protection from sexual harassment and discrimination.

Did you realize? The World Bank estimates that closing the gender gap in economic participation could add trillions of dollars to global GDP.

Future Outlook: What’s Next?

While the path to full gender equality remains long, there is growing momentum for change. Increased awareness of the economic benefits of empowering women, coupled with advocacy from organizations like the World Bank, is driving policy reforms in many countries. However, sustained commitment and targeted interventions are essential to ensure that these reforms translate into tangible improvements in women’s lives.

FAQ

Q: What are the biggest legal gaps facing women globally?
A: The largest gaps are in safety, entrepreneurship, and childcare, according to the World Bank’s Women, Business, and the Law 2026 report.

Q: Did Japan’s “Womenomics” policy succeed?
A: Yes, Japan saw a significant increase in female labor force participation and employment following the implementation of “Womenomics” reforms.

Q: Why is closing the gender gap important for economic growth?
A: Removing barriers to women’s workforce participation unlocks significant economic potential and can boost GDP.

Pro Tip: Businesses that prioritize gender diversity and inclusion often experience higher levels of innovation and profitability.

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