TAILIEUCHUNG - Accounting for Asian Economic Growth: Adding Gender to the Equation

This analysis of East Asian corporations allows us to study the subject of earnings informativeness in a different ownership context from that of the research on . corporations. Our research results are also rich in policy implications. In general, our results support Ball, Kothari, and Robin (2000) by finding that policy makers should consider a country’s overall institutional environment before prescribing a comprehensive set of rules and regulations for corporate reporting. Also, it is important for policy makers and regulators to understand how the concentrated share ownership structure in East Asia is associated with incentives for firms to reduce accounting information quality | Accounting for Asian Economic Growth Adding Gender to the Equation Stephanie Seguino University of Vermont Department of Economics Old Mill 338 Burlington VT 05405 Tel. 802 656-0187 Fax 802 656-8405 E-mail sseguino@ Published in Feminist Economics 6 3 27-58. November 2000 The author is grateful for useful comments on earlier drafts provided by Elaine McCrate S. A. Rizvi David Levine participants in a seminar at the University of Massachusetts at Amherst and two anonymous referees. Accounting for Asian Economic Growth Adding Gender to the Equation Abstract Absent from the important debate on the determinants of rapid Asian growth is the role of gender inequality. This paper argues that gender wage inequality has stimulated growth with Asian economies that disadvantaged women the most growing the fastest from 1975 to 1990. Low female wages have spurred investment and exports by lowering unit labor costs providing the foreign exchange to purchase capital and intermediate goods which raise productivity and growth rates. These results contrast with recent studies that argue income equality at the household level contributed favorably to Asian growth by reducing political conflict. The divergent findings can be explained by the fact that gender norms and stereotypes that convince women to accept their low status curbs labor and political unrest stimulating investment. The results indicate that which group bears the burden of inequality in the process of economic growth matters. JEL Codes O4 Economic Growth and Aggregate Productivity O19 International Linkages to Development O53 Asia J16 Economics of Gender Keywords Economic growth gender inequality Asia semi-industrialized economies export-led growth. Accounting for Asian Economic Growth Adding Gender to the Equation I. Introduction One of the significant economic events of the twentieth century was the rapid growth and structural transformation of several Asian economies. Faltering growth in other developing

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