Moderator: Rosianna Silalahi, Editor-in-Chief, Kompas TV
Panelists:
Christine Lagarde, Managing Director, IMF
Sri Mulyani Indrawati, Minister of Finance, Indonesia
Priyanthi Fernando, Executive Director, International Women’s Rights Action Watch, Asia Pacific
Vera Songwe, Executive Secretary, United Nations Economic Commission for Africa (UNECA)
Carolyn Wilkins, Senior Deputy Governor, Bank of Canada
Women have a tremendous potential to transform our economies and societies. However, digitalization is changing the way work gets done with a potential large negative effect on women. A panel of policymakers and women’s rights advocates discussed female participation in the labor force, impact of new technologies on women, and the importance of removing gender-related barriers.
Key Points:
Higher female labor force participation (FLFP) leads to large economic gains. Panelists generally agreed that while gender diversity is conducive to productivity growth, much remains to be done to narrow the participation gap. Lagarde cited one recent Fund Staff Discussion Note (SDN) that shows male and female employees are complementary in production, as women bring something different to the workplace. Songwe noted that improvement of infrastructure such as better access to electricity is essential.
Female workers are more vulnerable to advances in digital technologies. Panelists believed that women are more likely to be adversely affected by automation. Lagarde cited the findings in another Fund SDN that a larger proportion of the female workforce is at high risk for automation than males, 11 percent versus 9 percent, with 26 million female jobs potentially at stake in 30 countries (28 OECD member countries, Cyprus, and Singapore). However, she added that the rise of the service sector can contribute to reducing the gender employment gap. Indrawati noted that while the new technologies can provide women with the flexibility to work at home, what we really hope to achieve is an increase in high-paying jobs for women.
Gender-related barriers. Despite the headway made so far, panelists believed that many social barriers and cultural stereotypes still need to be removed. Borrowing the title of a biography about former U.S. Secretary of State Condoleezza Rice, Indrawati argued that women often need to be “twice as good” as men and work much more diligently to achieve career success. She noted that some stereotypes are prevalent and deep-seated, as many deem positions like finance minister as “a male job.” Fernando noted that some men think housewives are not working.
Role models are powerful for the young. Panelists emphasized that role models have the ability to transform a generation. Lagarde said we need to celebrate woman winners. Indrawati noted that we should ensure that girls have the right role models and mentors to lead the way. Songwe noted that we must make woman champions more visible across the world.
Quotes:
“Invest in women education.” Christine Lagarde
“Men own about 80 percent of land in Africa, while over 70 percent of rural women work on the land.” Vera Songwe
“The more we have women in leadership, the more young women will say I want to be like that too.” Carolyn Wilkins
Contributor: Danny Xufeng Jiang
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