Abstract:

Women represent approximately half of the global human capital but continue to remain one the most underutilized resources since their contribution to economic development is hindered by various barriers. Sustainable economic growth can only be achieved by fully allowing women to become economically empowered which means having equal access to jobs as men, being equally paid and having the same chances of being promoted to higher positions. The present paper discusses the ways in which women contribute to economic development by focusing on female participation on the labor market as well as on the positive externalities generated by female employment. In addition, the study focuses on the effects of the gender wage gap on the ability of women to contribute to economic development and pays particular attention to the situation in Lebanon, a developing country with a frail economy where women face various forms of labor discrimination. The findings of the paper showcase the importance of addressing the gender wage gap through changes in legislation, organizational policies and the offering of public services as a means to help boost the economy.