Summary

The Executive Committee of the Economic Commission for Europe (ECE) at its meeting on 24 September 2008 supported the organization of the Beijing +15 regional review meeting in the ECE region with a focus on economic aspects of gender. One of these aspects is the promotion of gender-sensitive economic policies in the context of the economic and financial crisis which is discussed under this agenda item.

The note focuses on the interlinkages between gender equality and economic policies. It reveals the implicit gender bias of these policies as usually designed, and demonstrates that engendering them makes economic sense from the perspective of innovation, employment and growth. Subsequently it reviews a number of key areas for gender equality, analyses the gender impact of the economic and financial crisis, and finally indicates major directions to be taken for making economic policies, both short and longer term, truly gender sensitive.

Introduction

Gender equality is a basic human right and is as such a part of the social policy framework. At the same time, it is a multi-faceted concept with its cultural, social, legal, political and economic dimensions and interrelations. The prevalent practice in most countries illustrates that traditionally, economics and gender equality have been considered as two distinct policy areas that are independently shaped and carried out by different authorities. However, this approach fails to acknowledge the numerous interlinkages between both areas.

Indeed, it is in the interest of both advocates of gender equality and economic policymakers to closely cooperate. On the one hand, economic policies have an effect on gender equality through their potential to rebalance economic opportunities for both men and women; on the other hand, gender equality has an impact on the economy, for example through changes in labour force participation and the full use of human capital.

The note highlights these links between economics and gender equality, both structurally and in the context of the current economic crisis. It is primarily directed to national decisionmakers but also to international organizations, particularly financial institutions which influence national decision-making in the economic field.

Section I presents mechanisms through which gender equality impacts positively on innovation, productivity and growth, and thus makes economic sense. Section II illustrates how economic policies usually considered as gender neutral de facto affect gender equality negatively. Section III highlights the active role that economic policymakers can take in promoting gender equality. Section IV identifies the risks and opportunities for gender equality induced by the current economic and financial crisis. The conclusions take up and summarize a number of major policy directions which have been suggested throughout the paper.