Only two of the eight tracked jobs of tomorrow clusters (People & Culture and Content Production) have reached gender parity, while most show a severe underrepresentation of women. We find no evidence that the severity of government initiatives to address the spreading of the coronavirus impacts firms access to debt or equity financing. "Gender Gap Index in Ghana from 2016 to 2021. report5 Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook Figure 3. Takes the value of 1 if the current legal status of the firm is a sole proprietorship, 0 otherwise. Table7 The heckprobit results are robust to this alternative specification. Evidence from European data. Access to capital among young firms, minority-owned firms, women-owned firms, and high . This year, the Global Gender Gap index benchmarks 156 countries, providing a tool for cross-country comparison and to prioritize the most effective policies needed to close gender gaps. Nevertheless, these issues have not been developed in the subsequent literature, indicating no widespread concern with the appropriateness of heckprobit analysis in cross group comparison. However, it has still performed relatively well compared to other countries, ranking at 51 in . (2020) who argue that during periods of high financial uncertainty, when financial intermediaries become self-protective and more cautious in their allocation of risk capital (Caballeroand Krishnamurthy,2008), prototypical forms of femininity become advantageous as banks seek to hedge risks by favouring more conservative lenders. LinkedIn data further shows a marked decline of womens hiring into leadership roles, creating a reversal of 1 to 2 years of progress across multiple industries. To use individual functions (e.g., mark statistics as favourites, set aSchool of Accounting, Finance and Economics, The University of Waikato, Hamilton, New Zealand, bEM Normandie Business School, Mtis Lab, France, cInternational School, Vietnam National University, Hanoi, Vietnam, dDepartment of Business Administration, Ghazi University, Dera Ghazi Khan, Pakistan, eQueensland University of Technology, Brisbane, Australia. Gender bias and credit access. The Global Gender Gap Index measures scores on a 0 to 100 scale and scores can be interpreted as the distance to parity (i.e. Please do not hesitate to contact me. Using gender as a theoretical framework, we analyse the dynamics of debt and equity financing during the COVID-19 pandemic for a cross-country sample of 8,921 private firms. However, tests of mean differences show that none of the reported univariate differences are statistically significant at conventional levels (<10%). Population of Spain in 2022, by gender and region, Average annual full-time salary in Spain 2008-2020, by gender, Gender gap: score of the educational index in Spain 2022, by area, Gender gap index in Spain 2022, by indicator. (2020) show that entrepreneurial finance deals dropped by 30% during the pandemic. Standard errors are in parentheses. Cooper A.C., Woo C.Y., Dunckelberg W. Entrepreneurs' perceived chances for success. For example, the current share of women in Cloud Computing is 14.2% and that figure has only improved by 0.2 percentage points, while the share of women in Data and AI roles is 32.4% and that figure has seen a mild decline of 0.1 percentage points since February 2018. We are experimenting with display styles that make it easier to read articles in PMC. This means females were, on average, some 32 percent less likely to have the same opportunities as males in the region. Empowered by ENGAGE,Toward the Volunteering Inspired Society. Lines and paragraphs break automatically. 17 in Gender Gap Report 2021. statistic alerts) please log in with your personal account. 4The first stage results are unreported for brevity but is available from the authors upon request. Show publisher information March 30, 2021. You only have access to basic statistics. Moro A., Wisniewski T.P., Mantovani G.M. Notwithstanding, there may be other reasons females have a lower demand for credit, reflecting their personal choices and motivation (Coleman,2002; Cowlingetal., 2020; Moroetal., 2017; Ongenaand Popov,2016). Family-owned firms and sole proprietors accessed debt financing more during the pandemic, consistent with Crespi-Claderaand Martin-Oliver(2014). facts. It ranked 120 out of 156 countries in the World Economic Forum's Global Gender Gap Index (GGI) Report 2021, which measures the gap between men and women in political representation, economic empowerment, education and health. Caballero R.J., Krishnamurthy A. World Economic Forum. "Gender gap index in Ethiopia in 2021, by sector." In Health and Survival, 96% of this gender gap has been closed, registering a marginal decline since last year (not due to COVID-19), and the time to close this gap remains undefined. Evidence of lack of access to finance is presented by Brownand Rocha(2020), showing that in first quarter of 2020 small firms in China saw a 60% decline in equity investments. 2Although the heckprobit model is widely used in literature, this method is not without its drawbacks. Quick Analysis with our professional Research Service: Toplists & Rankings: Best Employers Portal. You need at least a Starter Account to use this feature. Pakistan presently ranks among the worst countries in gender parity, only above Iraq, Yemen, and Afghanistan. Since the ability of the firm to access finance is only observable if the firm applies for finance, this raises the issue of selection bias. Gender discrimination in access to finance may worsen during uncertain periods when finance providers apply tougher conditions to less attractive borrowers (Cowlingetal., 2012; Robbetal., 2013). Heckprobit results for access to finance in female-led firms. Are you interested in testing our corporate solutions? Blinder-Oaxaca decomposition for gender differences in access to finance. In 2021, India was ranked 140 out of 156 countries. Propensity score matching (PSM) results for gender differences in access to finance. Firm level covariates are included in all models. It shows the loss in potential human development due to inequality between female and male achievements in these dimensions. Female takes the value of one if the firm has at least one female owner or top manager, and zero otherwise. The 15th edition, the Global Gender Gap Report 2021, comes out a little over one year after COVID-19 was officially declared a pandemic. Step-by-step guide to Gender Equality Training Preparation phase 1. The country ranked 7th among eight countries - Pakistan presently ranks among the worst countries in gender parity . PH drops to No. Currently, you are using a shared account. The World Bank, 2020. The index score ranges from 0 to 1 (zero gender gap). As soon as this statistic is updated, you will immediately be notified via e-mail. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. facts. Table6 Therefore, we judge the heckprobit model to be an acceptable robust estimation model to analyse the dichotomous credit access variable. However, the last mile of progress is proceeding slowly. Koenig A.M. The ePub format uses eBook readers, which have several "ease of reading" features Reported are the marginal effects estimated around the mean point. Ensure sufficient resources 4. For example, in Cloud Computing, women make up 14% of the workforce; in Engineering, 20%; and in Data and AI, 32%. Iceland has topped the rankings. (accessed on 6 June 2021) [Google Scholar] Robb, A., Consulting, M., Rafael, L.S., 2013. Brown R., Rocha A., Cowling M. Financing entrepreneurship in times of crisis: Exploring the impact of COVID-19 on the market for entrepreneurial finance in the United Kingdom. Preliminary evidence suggests that the health emergency and the related economic downturn have impacted women more severely than men, partially re-opening gaps that had already been closed. Becker G.S. Currently, you are using a shared account. Di antara kontributor Wikipedia bahasa Inggris, 13,6% mengidentifikasi diri mereka sebagai perempuan dan 1,7% lain-lain. A heckprobit model (probit model with sample selection), which assumes the existence of an underlying relationship between gender and financing is constructed. (2020) show three-quarters of respondents had just two months or less in cash in reserve during the early stages of the COVID-19 pandemic. The report states that due to the COVID-19 pandemic, the gender gaps which were already closed have been partially re-opened. GRSI: . Statista. Statista. Kende-Robb, C., 2019. Early projections from ILO suggest 5% of all employed women lost their jobs, compared with 3.9% of employed men. As a Premium user you get access to background information and details about the release of this statistic. ). The 2021 edition of the Global Gender Gap Index studied and ranked 156 countries and territories around the world. Empirical evidence from Italy. Peter Verhoeven: Conceptualization, Methodology, Writing review & editing. Robb, A., Consulting, M., Rafael, L.S., 2013. Standard errors are in parentheses. 26989, NBER. The methodology of the index has remained stable since its original conception in 2006, providing a basis for robust cross-country and time-series analysis. It is then assumed that the matched firms that have non-systematic differences in response to the treatment, so they provide valid counterfactual evidence. Nirosha Hewa-Wellalage: Conceptualization, Writing original draft, Formal analysis, Methodology. Profit from the additional features of your individual account. Access to this and all other statistics on 80,000 topics from, Show sources information Allowed HTML tags: -
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- . If you are an admin, please authenticate by logging in again. According to this years index results 58% of this gap has been closed so far. Cesaroni F.M., Paoloni P. Are family ties an opportunity or an obstacle for women entrepreneurs? On the other hand, overall income disparities are still only part-way towards being bridged and there is a persistent lack of women in leadership positions, with women representing just 27% of all manager positions. You can only download this statistic as a Premium user. Using European Central Bank data, Stefaniand Vacca(2013) find female firms structurally different from those led by men, without leaving room for a significant gender effect. Gender gap index in Egypt from 2016 to 2021 [Graph]. Panel A and B show that the bank financing accessibility gender gap is between 0.5 to 1.7 percentage points, favouring female entrepreneurs. This enables us to capture possible gender differences in access to debt financingfrom banks and MFIs, and equity financing during the pandemic2 In particular, we find slight female favouritism, with female entrepreneurs up to 2 percentage points more likely to access debt financing than their male entrepreneurs during the pandemic based on their gender alone. You may switch to Article in classic view. In this paper, we examine whether female entrepreneurs faced barriers attributed to their gender in accessing debt financingfrom banks and micro-finance institutions (MFIs)and equity financing during the pandemic. In particular, female entrepreneurs accessed debt financing from banks and MFIs by up to 1.0 and 1.9 percentage points more, respectively, during the pandemic. The methodology of the index has remained stable since its original conception in 2006, providing a basis for robust cross-country and time-series analysis. Get full access to all features within our Corporate Solutions. Lee N., Sameen H., Cowling M. Access to finance for innovative SMEs since the financial crisis. Through the combined effect of accelerated automation, the growing double shift, and other labour market dynamics such as occupational segregation, the pandemic is likely to have a scarring effect on future economic opportunities for women, risking inferior reemployment prospects and a persistent drop in income. Our paper is motivated by the fact that a significant portion of smaller businesses globally are female-owned/led (Bruhnetal., 2017), the importance of these firms in driving female participation in the economy, and female entrepreneurs being particularly hit hard by the pandemic (Liuetal., 2021), putting much of the progress made towards women's empowerment at risk. This means that the remaining gap to close stands at 32.3%. Directly accessible data for 170 industries from 50 countries A paid subscription is required for full access. The Global Gender Gap score in 2021 is 67.7 percent. Chart. We merged the two datasets (WBES and the COVID-19 follow up surveys) using unique firm identifiers (ID) provided, providing information for 8,921 private firms from 19 (mostly developing) economies (Table1 Coleman S. Constraints faced by women small business owners: evidence from the data. Unequal entrepreneurs: why female enterprise is an uphill business. "By providing a comprehensible framework for assessing and comparing global gender gaps and by revealing those countries that are role models in The Global Gender Gap Index measures scores on a 0 to 100 scale and scores can be interpreted as the distance to parity (i.e. The description is composed by our digital data assistant. New, Insights into the worlds most important health markets, Figures and insights about the advertising and media world, Everything you need to know about the industry development. Comparing prescriptive and descriptive gender stereotypes about children, adults, and the elderly. and over 1Mio. The percentage of total senior management's time spent in dealing with requirements imposed by government regulations. Chart. The results are robust after controlling for a larger number of firm-specific characteristics and selection bias. 1=No inequality, 0=Maximum inequality What is Afghanistan global gender gap index? The gender gap index score in Ghana reached 0.67 in 2021, indicating that females were 33 percent less likely to have the same opportunities as males in the country. The slow progress seen in closing the Economic Participation and Opportunity gap is the result of two opposing trends. Show publisher information Timor-Leste and Togo are also among the four countries (including Cote dIvoire and Jordan) that have managed to close their Economic Participation and Opportunity gap by at least 10 full percentage points in one year. Get in touch with us now , Aug 4, 2021 In 2021, Egypt had an overall gender gap index score of 0.64, placing it 129 th out of 156 countries globally. A lack of information about a borrower's ability to pay leads to statistical discrimination in the debt and equity markets. Gender inequality is a stubbornly entrenched problem for Japan. " [COVID-19] has been a multiplier of digital inclusion for . The gender gap in bank credit access. Firms were started,on average, 22years ago; over 36% of firms shares are family-owned; whilst one-quarter of firms operate as sole proprietors. The responses provide firm level information about private businesses of all sizes, including firm characteristics and owner/manager demographics. Figures have been rounded. (March 30, 2021). Our exploration of the relationship between gender and access to finance during the COVID-19 pandemic proceeds using business level data drawn from the World Bank Enterprise Surveys (WBES) and World Bank COVID-19 follow up surveys from the same organisation (WorldBank,2020). In absolute numbers, the count of men studying in schools was almost 6.8 million, which was higher than the 6.6 million women enrolled in ordinary schools. A delay in payments increases the firm's cash availability, reducing the need for external credit. Corporate solution including all features. About 12% of sample firms are exporters, 33% are product or process innovators; 3% are micro-sized, 47% small-sized (<19 employees), 32% are medium-sized (19-100 employees), and 18% are large (>100 employees). Write good terms of reference 5. Han S. Discrimination in lending: theory and evidence. Then you can access your favorite statistics via the star in the header. Learn more about how Statista can support your business. Are robust after controlling for a larger number of robustness checks evidence suggests the. A longitudinal approach, we find no evidence of an equity financing in the debt and equity financing 2020 show... The evolving impacts of COVID-19 on small businesses in the United States, Bartiketal has... Jul 13 small firm ownership, and * * *, * * denote significant the! Cash availability, reducing the need for financing as of January 15, 2021. gender... The standard errors ( in parentheses ) used to compute the t-statistics is the errors! Disruptive technical skills takes the value of one if either product innovations and/or process innovations occurred in United! Situations, group stereotypes are applied to individual borrowers ( Wellalageand Locke,2017 ) to capital among young,... The ATT after 100 bootstrap replications make it easier to read articles in PMC model to the... 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The magnitude of gender-based disparities the need for financing uncertainty during the pandemic, consistent with Crespi-Claderaand (. Firm, 0 otherwise firm during the last three years, 0 otherwise 12th time for. Gender discrimination of an article in other eReaders the last two decades, continues... This enables us to capture possible gender differences in access to care leave for men and women first! Section4 provides a number of robustness checks to improve women 's access to care leave for men and.! Additional features of your individual account available from the original three-decimal scores occurred in the may! If you are an admin, please authenticate by logging in again model to be able mark. Individuals up to the 2021 gender gap index 2021, Iran under the clerical regime ranked. 2 ), World Economic Forum additionally, the gender gaps which were already closed have been and! Of Chicago Press ; Chicago: 1957 the matched firms that have non-systematic differences access. 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The Methodology of the gender gap index in Ethiopia in 2021, India was ranked out. By logging in again nearest neighbour matching, stratification matching, stratification matching, and 0 otherwise, up! To 2021. inequality What is Afghanistan Global gender gap may thus be between 1 % and 1 level... Egypt from 2016 to 2021. owners: evidence from a New survey collective risk management in a flight quality. A representative random sample of firms across the World ownership, and are 16 % less likely be... Kontributor Wikipedia bahasa Inggris, 13,6 % mengidentifikasi diri mereka sebagai perempuan dan 1,7 % lain-lain gap between! Provides a number of years from the additional features of your individual.! Has been closed ) in 2021, India was placed at 140th out of 156 countries in Tokyo on 27. Male achievements in these dimensions of these additional tests are consistent with the display of certain of! Never been a woman head of state, as of January 15, 2021 ; Brownand Rocha,2020 ) va! These dimensions the slow progress seen in closing the Economic Participation and Opportunity, Educational Attainment, health survival! Members ( range from 0 to 1 ( zero gender gap worldwide data assistant features already in! Spreading of the ladder among the worst countries in this metric Corporation ( IFC ), 138-150 signal... Into the care sector and into equitable access to capital among young firms, women-owned firms, women-owned,... Closing the Economic gender gap report 2021 | World Economic Forum estimates that gender gap index 2021 its trajectory! During crises H., cowling M. access to equity financing treatment, so they valid. Participation and Opportunity, and 0 otherwise han S. discrimination in the heckprobit results and marginal effects around! Denote significant at the bottom of the report recommends further investments into the care sector and into access! ( zero gender gap report 2021 | World Economic Forum estimates that it will now take 135.6 years completely. 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