The latest Women, Business and the Law report by the World Bank Group shows that laws aimed at ensuring women have equal economic opportunities are only enforced in part around the world. The report points out that there are large "opportunity gaps" that are holding back economic growth and job creation.
Countries average 67 out of 100 on laws that support equality between women and men on paper. However, the level of enforcement is lower, averaging 53, while the systems required delivering these rights average only 47. Only 4 percent of women worldwide live in countries that provide women almost equal rights.
The report looks at laws and their enforcement for the first time. It is estimated that laws that support women's economic empowerment are enforced only to half of their potential.
On average, economies have not yet implemented half of the policies and services required ensuring that laws are enforced. Even if the laws are enforced, women would still have only two-thirds of the rights that men have.
Women's participation is evaluated in ten areas such as protection from violence, the ability to work, the ability to start a business, to own property and to retire with security.
Areas where women are lacking legal protection include protection from physical violence where only one-third of the required legal protections exist, and lack of enforcement of existing laws approximately 80 percent of the time.
In addition, research findings indicate that women do not have access to quality affordable childcare, with only 40 percent of the 190 economies reviewed having access to any financial assistance or tax incentives to assist working families and only 30 percent having access to quality, affordable childcare. In lower-income economies, only 1 percent of the economies have any formal mechanism to provide childcare.
While most economies provide legal avenues for women to operate businesses in an equal manner as men, only approximately 50 percent of the economies provide access to financial resources.
Despite the lack of enforcement, 113 legal reforms have occurred in 68 economies in the past two years, with Sub-Saharan Africa leading all regions in number of reforms with 33 reforms initiated and Egypt identified as having the highest percentage increase in legal equality.
The report also stresses that in order to achieve global economic growth we must provide the necessary infrastructure for women to participate fully in all sectors of the labour market, as this is not only a social issue but also an economic necessity.
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