Women's economic empowerment in Africa: Is economic globalization friend or foe?

The proponents of globalization claim that economic globalization (EGLO) is a catalyst for women’s economic empowerment (WEE), whereas the opponents of EGLO are of the view that it is detrimental to WEE, especially in developing countries, as it can exacerbate preexisting inequality. This study has examined the impact of EGLO on WEE from 2005 to 2020 for 45 African countries. The analysis disaggregated the EGLO variable into trade and financial globalizations to examine their individual impact on WEE. The system generalized method of moments is used as the estimation technique. The results show that overall EGLO, trade globalization and financial globalizations significantly promote WEE. Furthermore, the paper reveals that female labour force participation and human development expedite WEE. The results obtained from the analyses of the segregated data – official English and non-English speaking countries – are consistent with the aggregated data. Given these findings, this paper sheds light on how WEE could be enhanced on the African continent. Promoting WEE has the potential to expedite the achievement of some of the sustainable development goals.