Paper title: Women Entrepreneurship & Economic Development: Evidence from Developed and Developing Countries
Abstract: Abstract: This article intends to investigate the immense and beneficial involvement of female entrepreneurs in economic development across the world. The world economy consisting of both developed and developing countries escalates at quite different paces due to the changes occurring at micro, macro, and cultural levels. This study has been conducted in two dimensions: one study encompasses a panel dataset constituting country-across variables on research-specific indices of a total of 63 countries for 3 years (2019-2021). The Human Development Index (HDI) is taken as a proxy for measuring Economic development across the world. Applying the Ordinary Least Square (OLS) regression model, we found that Gender Inequality (GII), Globalization (GI), and Female Entrepreneurs (FEI) leave a major impact on sustainable, social and economic development at length. The second dimension of the study evaluates female entrepreneurs’ contribution to the development of Bangladesh’s economy using a time-series dataset for 16 years (2006-2021). Aside from these variables, the Gender Development Index (GDI) brings upon a great deal of impact on Bangladeshi female entrepreneurs at rise. The GDI and the GI of the model show that gender development and globalization assist the female community to grow professionally in Bangladesh which is the important policy implication of this study. The study found that Globalization assists women in bringing something new to the table by generating more demand in the market. A comprehensive comparison between pre-COVID and post-COVID economies dealing with global female entrepreneurs shows women’s contribution to boosting the economy during the recent pandemic. Keywords: Women Empowerment, Economic Development, HDI, GII, GI, WLF, GDP, GDI DOI: https://www.doi.org/10.61607/JFB.V20N1-2.A4 Article Info: Submission Date: April 16, 2023; Acceptance Date: October 20, 2023.
