Contents
Worldwide, women earn 63 percent less than men, yet they spend three times as many hours on unpaid labor.
WOMEN AND GROWTH
A Global Imperative
Empowering women is critical for the world’s economy and people
Christine Lagarde
Closing the Gender Gap
The benefits of bringing more women into the labor force are greater than previously thought
Era Dabla-Norris and Kalpana Kochhar
Building an Inclusive Economy
Iceland’s prime minister discusses what gender means for rethinking the economy
KatrÃn Jakobsdóttir
Making It in India
Women struggle to break down barriers to starting a business
Ashlin Mathew
Invested in Gender Diversity
Asset owners and asset managers push to enhance gender diversity at all leadership levels
Rakhi Kumar
The Hidden Costs of Unpaid Caregiving
The public and private sectors need to work together to promote gender equality
Sarah Gammage, Naziha Sultana, and Manon Mouron
Banking on the Future of Women
Digital financial services are cutting out the middleman to equalize opportunity
Sarah Hendriks
Japan’s Gender Gap
A lack of gender equality in career opportunity and long work hours perpetuate wage differences
Kazuo Yamaguchi
ALSO IN THIS ISSUE
Past as Prologue
Ancient Rome offers lessons on the importance of sustainable development
Anthony Annett and Joshua Lipsky
Citizenship and Growth
Inclusive citizenship laws tend to foster economic development
Patrick Amir Imam and Kangni Kpodar
Tech Talent Scramble
Global competition for a limited pool of technology workers is heating up
Pedro Nicolaci da Costa
The Growth Forecast Puzzle
With vast technological change afoot, why are longterm forecasts becoming more pessimistic?
M. Ayhan Kose, Franziska Ohnsorge, and Naotaka Sugawara
DEPARTMENTS
People in Economics
Class Analyst
Chris Wellisz profiles Branko Milanovic, a leading scholar of inequality
In the Trenches
Pursuing Stability
Elvira Nabiullina explains how bold policy action helped Russia avert a deeper recession
Back to Basics
Does a Minimum Wage Help Workers?
An overly generous wage may prompt employers to cut jobs
Piyaporn Sodsriwiboon and Gabriel Srour
Picture This
Closing the Gap
Women still lag in many areas, while glaring disparity emerges in the technology field
Lijun Li
Book Reviews
Dance of the Trillions: Developing Countries and Global Finance, David Lubin
Taxing Africa: Coercion, Reform and Development, Mick Moore, Wilson Prichard, and Odd-Helge Fjeldstad
Currency Notes
Woman for the Ages
Canada’s new $10 bill delivers a history lesson Glenn Gottselig
Front Matter Page
F&D
FINANCES & DEVELOPPEMENT
A Quarterly Publication of the International Monetary Fund
EDITOR-IN-CHIEF:
Camilla Lund Andersen
MANAGING EDITOR: Maureen Burke
SENIOR EDITORS:
Glenn Gottselig
Natalie Ramlrez-Djumena
Chris Wellisz
ASSISTANT EDITORS:
Marie Boursiquot Bruce Edwards
DIGITAL EDITOR:
Rahim Kanani
ONLINE EDITOR:
Lijun Li
PRODUCTION MANAGER: Niccole Braynen-Kimani
COPY EDITOR:
Lucy Morales
ADVISORS TO THE EDITOR:
Bernardin Akitoby
Thomas Helbling
Celine Aliard
Laura Kodres
Bas Bakker
Tommaso Mancini Griffoli
Steven Barnett
Gian Maria Milesi-Ferretti
Nicoletta Batini
Christian Mumssen
Helge Berger
inci Ötker
Paul Cashin
Catriona Purfield
LuisCubeddu
UmaRamakrishnan
Alfredo Cuevas
Abdelhak Senhadji
Rupa Duttagupta
Alison Stuart
© 2019 by the International Monetary Fund. All rights reserved. For permission to reproduce any F&D content submit a request via online form (www.imf.org/external/terms.htm) or by e-mail to copyright@imf.org. Permission for commercial purposes also available from the Copyright Clearance Center (www.copyright.com) for a nominal fee.
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Finance & Development is published quarterly by the International Monetary Fund, 70019th Street NW, Washington, DC 20431, in English, Arabic, Chinese, French, Russian, and Spanish. English edition ISSN 0145–1707
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