Gender equity and economic performance in BRICS: Challenges, opportunities, and policy recommendations

Abstract

This study examines the relationship between gender equity and economic performance in the BRICS economies (Brazil, Russia, India, China, and South Africa). Gender equity is a crucial catalyst for economic growth, particularly in emerging economies where women constitute a significant portion of the population. Despite progress in areas such as education and political representation, persistent gender-based challenges remain, including wage disparities, occupational segregation, and cultural barriers that limit women's economic participation. This study highlights the positive impact of gender diversity in corporate governance and leadership roles on firm performance in BRICS countries. However, globalization has mixed effects on female economic participation, creating new opportunities while potentially exacerbating existing inequalities if not managed effectively. The study also underscores the importance of the National Innovation System (NIS) and increased female participation in STEM fields to foster innovation and sustainable development. Major barriers to gender equity in BRICS countries include entrenched cultural norms, weak policy implementation, and economic structures that marginalize women, particularly in informal labour markets. Addressing gender equity requires a multifaceted approach, including strengthening legal frameworks, investing in women's education, supporting female entrepreneurship, and implementing measures to close wage gaps and combat workplace discrimination. The relationship between gender equity and economic performance is complex and context-dependent, necessitating tailored strategies for each BRICS country that account for its unique cultural, economic, and social landscapes. Achieving gender equity is not only a moral imperative but also an economic necessity, and inclusive policies that address structural and cultural barriers are essential for sustainable economic growth in BRICS economies.