Many countries around the world have reserved quotas for women in the Parliament. The latest research shows that percentage of women in parliament worldwide has more than doubled in the last twenty years.
According to the International Growth Centre, women legislators in India have raised economic performance in their constituencies by about 1.8 percentage points per year- more than male legislators. The research states that there is a premium growth of about 25 percent for constituencies where there is female legislator.
“To understand the mechanisms underlying this striking finding, we explored differences between male and female legislators in corruption, efficiency and motivation, each of which has been associated with economic growth in developing countries. We found evidence in favour of women in each case,” the report said.
There were similar findings for infrastructure. The research found that male and female politicians are equally likely to negotiate federal projects for road building in their constituencies. However, women are more likely to oversee completion of these projects.
In 2010 Rajya Sabha, the upper house of the Indian Parliament, passed a constitutional amendment proposing to reserve one third of all federal and state assembly seats for women. However, it yet stands to be passed by the lower house of parliament and state assemblies.
Meanwhile, many countries of the world are coming up with gender-balanced national cabinets. Rwanda’s parliament is 60 percent female. Head of the state in Bangladesh, New Zealand, Germany, England and Ireland are women. On the business front, many corporations, according to We Forum, have boards of more than 50 percent women. Further, research from various organizations around the world such as Credit Suisse and McKinsey & Co. reveal that more women in leadership and on boards have a higher correlation of profitability and financial performance.