Tarred with the same brush: A cross-country analysis of the finance-gender gap

Michael Machokoto∗, Takudzwa Betty Sanganza†, Kumbirai Mabwe‡, Marvelous Kadzima§


Using a large firm-level dataset from the World Bank Business Enterprise Surveys over the period 2006-2019, we conduct a country-by-country analysis to better understand countries driving the popularised finance-gender gap. Our results show that the finance-gender gap is only significant in eighteen of the one hundred and eighteen sample countries, with five of these countries being in Sub-Saharan Africa (SSA). This empirical evidence suggests that the finance-gender gap is heterogeneous and localised to a handful of countries, which emerge as potential targets for future within-country case-based studies, and context-tailored pro-gender policies.

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