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This paper explores how to expand fiscal space for investments in gender equality. Challenging the conventional debt-centric view, the paper proposes a broader approach focused on domestic resource mobilization and creating a supportive environment for effective policy implementation, encompassing social and environmental sustainability. It argues that while traditional methods are often short-sighted, a developmental perspective considers the long-term growth and revenue-generating potential of government spending. Rather than such spending being categorized as “discretionary”, it is better understood as an investment in economy-wide productivity growth. This is because gender equality has positive effects on the economy, contributing to higher society-wide living standards.
The paper identifies key macro-level policies in areas like care, credit, and infrastructure, alongside monetary policies, as crucial for advancing gender equality at the national level. Addressing the common concern of insufficient fiscal space, the paper argues that gender equality spending should be viewed as a productive investment rather than discretionary expenditure. Such investments:
- stimulate economic growth,
- generate future revenue,
- reduce inequalities,
- improve human development,
- alleviate the unpaid care burden,
- mitigate economic downturns, and
- address the inadequacies of current international support.
Ultimately, the paper posits that investing in gender equality is a self-financing strategy when fiscal space is considered over a longer-term horizon.
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