Gender Inequality Issue and Economic Consequences of the Representation of Women in State Authorities

The purpose of this study is to determine the role of women's political and labor activity in the formation of countries' economic indicators. The Global Gender Gap Index in the world and Europe, and more specifically in the Slovak Republic, was analyzed. ANOVA results show a statistically significant difference in the Global Gender Gap Index across European country groups. The results of correlation analysis show that there is a strong positive relationship between GDP per capita and the proportion of seats held by women in national parliaments. There is a moderate positive relationship between GDP and the female labor force. The impact of the representation of women in state authorities on economic indicators was determined based on the panel data method. The modeling results of the final estimations of the impact of the representation of women in authorities on the GDP per capita and gross savings showed that the representation of women in parliament has a more significant impact on the GDP level than only the presence of a female labor force. The obtained results can be explained by the fact that women in parliament often advocate for policies that support education, healthcare, and family welfare. These policies can lead to a healthier, better-educated workforce, which is beneficial for long-term economic growth. Women are also more likely to pursue inclusive policies, which can lead to an increase in economic indicators as a result.