Journal Abstract

This study aims to highlight the bidirectional relationship between women’s empowerment and economic development in Bangladesh (South Asia) and Vietnam (Southeast Asia). The study investigates the U-shaped hypothesis for both countries to figure out the impact of economic development on women’s empowerment. With an econometric approach, the research runs the regression model by the Pooled Regression, Fixed Effect, and Random Effect models with Panel data from (1991-2019) to estimate the impact of women’s empowerment on economic development. Female labor force participation rate and Real GDP per capita are used as the proxy indicator of women’s empowerment and economic development respectively. In the regression model, Real GDP per capita is used as the dependent variable, and the female labor force participation rate as the independent variable.  Fertility rate, Mortality rate, and Female employment to population ratio are used as controlled variables. The study demonstrates women's empowerment through the Human Development Index and Global Gender Gap Index.  In Global Gender Gap Index, Vietnam is ahead in economic participation and opportunity (sub-index), and educational attainment (sub-index), whereas Bangladesh leads in health and survival (sub-index), and political empowerment (sub-index). However, the regression result shows that the female labor force participation rate, fertility rate, and mortality rate have a negative significance on economic development, whereas the female employment to population ratio has a positive significance on economic development in Bangladesh and Vietnam. The existing U-shape in Vietnam proves that women empowerment and economic development nexus is commendable whereas an upward pattern, not a U-shape exists in Bangladesh.