Female Employment: A Way to National Wellbeing

摘要

Gender equality' is a term which can be found almost in each and every sector of our modern lives. Female labor force participation is one of the most integral parts of development which should be brought into the limelight so that policymakers take the necessary actions to improve women's situation all over the world. Increasing participation of female population contributes immensely in a nation's development process. To explore more about this contribution, the paper aims to study the impact of female labor force participation rate on the overall national wellbeing of a country. To achieve this objective, World Bank databank is used as pioneer data source and panel econometric models are estimated for a sample of 58 countries over a 10 year period (2004-2013). In addition, this paper uses a dynamic model as an extension of the analysis to establish whether such an effect exists or not. While the results show the evidence of robust and significant pull effects, that is the positive impact on the national wellbeing of the female labor force participation rate in the host country. The paper also provides some policy recommendations in order to enhance the active participation of female labor force in the economy.