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Critical and Feminist Perspectives on Financial and Economic Crises
Economic and financial crises have become perennial features of today’s global economy. Macroeconomic theories of crisis, including the global crisis that unfolded in 2008, emphasize the role of financial deregulation; capital flow imbalances; and growing debt, fueled by income and wealth inequality. These approaches tend to be divorced from feminist thinking which analyzes broader distributional dynamics transmitted through structural channels and government policy responses, with an emphasis on gender, race, class and ethnicity. This volume brings together innovative thinking from heterodox macroeconomists and feminist economists to explore the causes, consequences, and ramifications of ...
Inequality, Development, and Growth
This volume presents a comprehensive analysis of the linkages between inequality, development, and growth from a feminist economics perspective offering a rich array of policy options for promoting gender equality. This book was published as a special issue of Feminist Economics.
Gender Inequality and Economic Growth
This paper investigates empirically the determinants of economic growth for a set of semi-industrialized export-oriented economies in which women provide the bulk of labor in the export sector. The primary hypothesis tested is that gender inequality which contributes to women's relatively lower wages was a stimulus to growth via the effect on exports during 1975--95. Empirical analysis shows that GDP growth is positively related to gender wage inequality in contrast to recent work which suggests that income inequality slows growth. Evidence also indicates that part of the impact of gender wage inequality on growth is transmitted through its positive effect on investment as a share of GDP.
All Types of Inequality are Not Created Equal
Evidence of an increase in various forms of inequality since the 1970s has motivated research on its relationship to growth and development. The findings of that research are contradictory and inconclusive. One source of these divergent results is that researchers rely on different group measures of inequality. Inequality by gender, household, class, and ethnicity may produce divergent effects on growth since they operate on macroeconomic outcomes via alternative pathways. Further, even within groups, the effect of inequality on growth depends on the measure used. For example, inequalities in capabilities (such as education and health status) may operate differently on growth than inequality in wages and income. This paper explores the different conceptual approaches to measuring between-group and within-group inequality and delineates the sometimes contradictory pathways by which these measures affect economic growth and development. The typology is applied to the cases of East Asia and Latin America.
Macroeconomic Effects of Reducing Gender Wage Inequality in an Export-Oriented, Semi-Industrialized Economy
The paper presents two short-run, structuralist models of an export-oriented, two-sector, semi-industrialized economy in which women workers are concentrated in export production. The first model analyzes the comparative static effects of an exogenous increase in female wages holding male wages and the exchange rate constant. The second model endogenizes the female-male wage ratio and the real exchange rate, assuming flexible nominal wages and a crawling-peg exchange rate. Either stable or unstable dynamics are possible. In the stable cases, a depreciation policy can either close or widen the gender wage gap.
