Impact of Gender Inequality on the Republic of Korea’s Long-Term Economic Growth: An Application of the Theoretical Model of Gender Inequality and Economic Growth
This paper presents a theoretical model that can analyze the impact of gender inequality on long-term economic growth.
Calibrating a gender inequality growth model to fit Korean data, we find that policies that seek to reduce gender discrimination in the labor market or increase the time spent by fathers on child-rearing can contribute positively to female labor market participation and to the Republic of Korea’s per capita income growth. When gender disparities at home and in the labor market are completely removed, the female labor force participation rate is shown to increase from 54.4% to 67.5%, and the per capita income growth rate from 3.6% to 4.1% on average over a generation.
- Tables and Figures
- Gender Inequality in the Republic of Korea
- The Theoretical Model
- Estimation of the Economic Effects of Gender Inequality in the Republic of Korea
- Concluding Remarks