The economic magic of equal opportunities for women

In 2012, facing a shrinking labor force and economic stagnation, then-Japanese Prime Minister Shinzo Abe bet on women. To encourage more women to work, his government rolled out a series of reforms, including expanded childcare, enhanced parental leave and tax incentives for firms that promoted women. By 2019, 2.5 million additional women were employed, female labor force participation reached 67 percent and job placement for graduates was nearly universal. The conclusion is straightforward: When barriers to women’s workforce participation are removed, economic outcomes improve.

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