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1、FINANCIAL RESILIENCE,INCLUSION,AND ENTREPRENEURSHIP Is Asia and the Pacific close to gender parity?The Economic and Social Commission for Asia and the Pacific(ESCAP)serves as the United Nations regional hub promoting cooperation among countries to achieve inclusive and sustainable development.The la

2、rgest regional intergovernmental platform with 53 Member States and 9 Associate Members,ESCAP has emerged as a strong regional think-tank offering countries sound analytical products that shed insight into the evolving economic,social and environmental dynamics of the region.The Commissions strategi

3、c focus is to deliver on the 2030 Agenda for Sustainable Development,which it does by reinforcing and deepening regional cooperation and integration to advance connectivity,financial cooperation and market integration.ESCAPs research and analysis coupled with its policy advisory services,capacity bu

4、ilding and technical assistance to governments aims to support countries sustainable and inclusive development ambitions.The shaded areas of the map indicate ESCAP members and associate members.*The designations employed and the presentation of material on this map do not imply the expression of any

5、 opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country,territory,city or area or of its authorities,or concerning the delimitation of its frontiers or boundaries.United Nations publicationCopyright United Nations 2024All rights reservedST/

6、ESCAP/2-TR/5For further information on this publication,please contact:Trade,Investment,and Innovation DivisionUN ESCAPRajadamnern Nok AvenueBangkok 10200,ThailandFax:(+66-2)288-1027,288-3066E-mail:escap-tiidun.orgReference to dollars($)are to United States dollars unless otherwise stated.Where the

7、designation“country or area”appears,it covers countries,territories,cities,or areas.Bibliographical and other references have,wherever possible,been verified.The United Nations bears no responsibility for the availability or functioning of URLs.The views expressed in this publication are those of th

8、e authors or case study contributors and do not necessarily reflect the views of the United Nations.The opinions,figures and estimates set forth in this publication are the responsibility of the authors and contributors and should not necessarily be considered as reflecting the views or carrying the

9、 endorsement of the United Nations.Any errors are the responsibility of the authors.Mention of firm names and commercial products does not imply the endorsement of the United Nations,and any failure to mention a particular enterprise,commercial product or process is not a sign of disapproval.The use

10、 of the publication for any commercial purposes is prohibited,unless permission is first obtained from the Secretary of the Publication Board,United Nations,New York.Request for permission should state the purpose and the extent of reproduction.Financial resilience,inclusion and entrepreneurship:Is

11、Asia and the Pacific close to gender parity?1EXECUTIVE SUMMARYThe connection between financial inclusion and poverty reduction is well established,and achieving gender parity in financial resilience,inclusion and entrepreneurship is a key priority in Asia and the Pacific.Economic empowerment and the

12、 full financial inclusion of women can enable them to better manage financial risks,attain financial independence,overcome traditional roles assigned to them,increase their incomes,accumulate assets,pursue entrepreneurial aspirations,grow their businesses and participate fully and equally in the eco

13、nomy.Despite these and many other benefits,many obstacles remain and the region is far from achieving parity.To better understand the situation of women and men in the region,this study draws from the best available data from 35 ESCAP members1 and associate members in the region to assess progress a

14、gainst a range of indicators of financial inclusion.The indicators aim to capture differences between men and women of the Asia-Pacific region across four dimensions of the financial ecosystem:financial inclusion;asset control and ownership;financial resilience and worry;and entrepreneurship.Financi

15、al inclusion which includes access to well-regulated and affordable financial products and services such as transactions,savings,credit,remittances,insurance,pension and social security payments is analysed using indicators on ownership of national identity documents and bank accounts,access to loan

16、s and savings mechanisms.Many programmes 1 The analyses reflect a data set of selected members and associate members of the Economic and Social Commission for Asia and the Pacific(ESCAP)where data were available for at least 15 of the 34 selected indicators.Financial resilience,inclusion and entrepr

17、eneurship:Is Asia and the Pacific close to gender parity?2have been initiated to boost the financial inclusion of women,yet women continue to lag behind on all indicators of financial inclusion.Efforts by all actors to tackle discriminatory norms and stereotypes across all aspects of society are nee

18、ded to put an end to gender-based discrimination and to enable financial inclusion of all genders.Asset control and ownership is analysed using indicators on the ownership and use of land and non-land assets,and inheritance rights.Laws on inheritance and ownership may exist in parallel with cultural

19、 norms,practices and beliefs,and conflict between coexisting systems tend to disenfranchise women.Women lag behind men across the region on indicators of asset ownership.Governments and legislators can put supportive measures in place that ensure that all women can make use of their full legal right

20、s and to tackle unequal formal and informal asset and inheritance laws.Financial resilience is analysed using indicators on the ability to raise emergency funds to cope with short term needs as well as indicators on the level of worry women and men experience when they consider paying for medical ex

21、penses,education fees,routine household expenses and the costs of old age.Women generally had less ability than men to raise emergency funds.Across the indicators of financial worry,more women than men experienced high levels of worry.Building up the financial resilience of women and men through str

22、engthened social protection systems would allow the population to be able to better cope with economic shocks and in turn could encourage investments into more productive activities.Entrepreneurship is analysed using indicators on the ease of registering a business,along with the time and cost of st

23、arting up;obtaining loans to start,operate or expand an enterprise;saving up to start a business;and business ownership among women and men.Policies have been implemented in some economies to improve the ease of doing business,and it is important to ensure that products and services for entrepreneur

24、s effectively meet the needs of underserved groups of women.Gender-responsive reforms to enhance the business environment would go a long way to levelling the playing field for women and men entrepreneurs.The results of this analysis show that gender inequalities persist almost universally,but gende

25、r parity can be achieved across the four dimensions if stakeholders from the entire ecosystem drive change.This report concludes that much work remains to be done to ensure equitable opportunities for women across the region,including by addressing social norms,the division of care work and gender-b

26、ased violence,among other factors.Systemic changes are required to close the gender finance gap and to reach gender equality more broadly in Asia and the Pacific.Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?3ACKNOWLEDGEMENTSThe study,Financial re

27、silience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?,was prepared by the Economic and Social Commission for Asia and the Pacific(ESCAP)under the direction of Rupa Chanda,Director of the Trade,Investment and Innovation Division(TIID)and Jonathan Wong,Chief of Innova

28、tion,Enterprise and Investment,TIID.The study was ably led by Darshni Nagaria and Elena Mayer Besting.The study could not have been completed without the contributions of each of the research team,in particular Christina Morrison(chapter 1),Sara Diaz Moriones(chapter 2),Darshni Nagaria(chapter 3)and

29、 Lisa Braun and Sara DAnzeo(chapter 4).The study was edited by Mary Ann Perkins with design and layout by Ipsita Sarkar.ABBREVIATIONS AND ACRONYMSCEDA Convention on Elimination of all forms of Discrimination Against WomenCOVID-19 Coronavirus diseaseESCAP Economic and Social Commission for Asia and t

30、he PacificGNI Gross national incomeID Identity documentOECD Organisation for Economic Co-operation and DevelopmentSIGI Social Institutions and Gender IndexUHC Universal health coverageFinancial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?4CONTENTSExecutiv

31、e summaryAcknowledgements Abbreviations and acronyms IntroductionMethods Analysis of dimension 1-Financial inclusion 1.1 National identity documents 1.2 Bank accounts 1.3 Digital and mobile money 1.4 Access to loans1.5 Savings and pensions1.6 ConclusionAnalysis of dimension 2-Asset control and owner

32、ship2.1 Ownership of land assets 2.2 Ownership on non-land assets 2.3 Inheritance 2.4 Conclusion Analysis of dimension 3-Financial resilience 3.1 Emergency funds 3.2 Financial worrying 3.3 Conclusion Analysis of dimension 4-Entrepreneurship and starting a business 4.1 Registering a business and sign

33、ing a contract 4.2 Borrowing to start,operate or expand a business 4.3 Savings to start,operate,or expand a business 4.4 Business ownership 4.5 Conclusion Conclusions and recommendations Annex 1335791012161923323334363838404144555657616467687176Financial resilience,inclusion and entrepreneurship:Is

34、Asia and the Pacific close to gender parity?5INTRODUCTIONThe connection between financial inclusion and poverty reduction is well established.When people have access to safe and affordable financial services,they are better equipped to meet basic needs,make and receive payments,save money for the fu

35、ture,build resilience to unforeseen emergencies and benefit from loans.Under the right conditions,financial inclusion can contribute to driving entrepreneurship and economic empowerment.Advancing womens financial inclusion and access to finance has become a key priority in recent years.Globally,wome

36、n comprise the largest portion of the poorest populations,they have the highest rates of illiteracy and they are disproportionately represented in precarious forms of informal work.Women and businesses led by women face greater financial exclusion than men and businesses led by men.Globally an estim

37、ated 1 billion women either do not use or do not have access to the financial system,2 and a gap of 4 percentage points in access to financial services between men and women persists(78 per cent of men have a mobile money account,financial institution account 2 World Bank,2022,The Global Findex Data

38、base 2021,available at www.worldbank.org/en/publication/globalfindex/Data.3 UNESCO,2022,Global education monitoring report 2022:gender report,deepening the debate on those still left behind.4 OECD,2018,Bridging the digital gender divide include,upskill,innovate.Paris;ESCAP,2023,Policy approaches for

39、 financial inclusion:An examination of approaches across Asia and the Pacific and Latin America.Bangkok.or both,compared to 74 per cent of women).In developing economies,this gap is even wider(74 per cent of men compared to 68 per cent of women).These disparities are driven by a wide range of contex

40、t specific factors that intersect with broader gender inequalities.For example,according to data from 2020,the global literacy rate for adults stood at 84 per cent among women and 90 per cent for men,3 which has implications for financial literacy.Moreover,girls and women often face barriers to acce

41、ss and use digital technologies,which impacts their digital literacy and access to digital payment systems.4In some countries,as discussed in chapter 2,discriminatory inheritance and property laws are in place that restrict the ability of women to accumulate fixed assets,thereby limiting their acces

42、s to credit and other financial services.Even when these disadvantages are not a result of regulatory deficiencies,they can be driven by discriminatory business practices or underlying assumptions governing the role of women in societies,such as informal norms,for example,around inheritance and limi

43、ting beliefs around Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?6the role of women in the household and the workplace.The issue of womens financial exclusion is also closely linked to barriers to their integration into the labour market and over

44、representation in less profitable sectors of the economy,which is reinforced by an excessive burden of care responsibilities placed on women.Notably,financial exclusion among women both contributes to and is perpetuated by womens concentration in the informal sector and the most vulnerable categorie

45、s of work.5 Alongside breaking down restrictive social norms,addressing broader gender inequalities and promoting financial education,ensuring equitable access to the full range of well-regulated needs-based financial services can significantly contribute to womens economic empowerment which is the

46、process by which those who have been denied the ability to make strategic life choices acquire such an ability.6 While financial inclusion alone will result in neither automatic economic empowerment nor the elimination of structural inequalities faced by women,it is a vital tool that can contribute

47、to enabling women to manage financial risks,attain financial independence,overcome traditional roles assigned to them,increase their incomes,accumulate assets,pursue entrepreneurial aspirations,grow their businesses and participate fully and equally in the economy.Importantly,financial inclusion can

48、 provide critical links to the formal economy and resulting access to social protection and employment-related benefits,enabling greater economic security and enhancing womens ability to engage in measurable and profitable economic activities.7 Financial inclusion can also contribute to improved fin

49、ancial resilience,helping women in low-and middle-income 5 ILO,2023,Women and men in the informal economy:A statistical update.Geneva.6 Naila Kabeer,1999,“Resources,Agency,Achievements:Reflections on the Measurement of Womens Empowerment.”Development and Change,vol.30,Issue 3,pp.435464.7 See https:/

50、thedocs.worldbank.org/en/doc/45619be5de8592403df8558559627234-0050062022/original/Findex-GenderBrief.pdf.countries to cope with unexpected setbacks and shocks,such as the impacts of the coronavirus disease(COVID-19)and the climate crisis,which disproportionately affect women.For example,access to cr

51、edit may allow for investments into more resilient seeds or technologies such as irrigation,and affordable insurance products can be used to mitigate losses driven by extreme weather conditions.To set the foundation for this analysis and to cover this key element,we examine the overall levels of fin

52、ancial inclusion and the gender gaps in ownership of bank and mobile money accounts,and access to credit and savings in chapter 1.Complementary to financial inclusion is asset control and ownership,as asset ownership is often both the result of financial inclusion and economic success and a prerequi

53、site for access to finance and economic opportunities.Womens ownership and control over assets,such as land and housing is the foundation for livelihood opportunities as they provide economic security,as well as important non-economic benefits.This topic is explored further in chapter 2.Economic sec

54、urity and financial resilience are the subject of chapter 3.It is not always the case that financial inclusion strengthens financial resilience,as access to finance does not challenge structural issues that enable inequality,such as a lack of access to health care,education and pensions or address t

55、he high levels of unpaid work women undertake.When used to supplement consumption gaps or pay for essential services such as medical bills,access to finance can reduce resilience and increase the risk of indebtedness.We further explore the relationship between strengthening social protection systems

56、,financial resilience and access to finance through measuring Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?7METHODSthe ability of individuals or households to manage,recover from and resist the negative financial impacts of unexpected events,such

57、 as accidents or health crises,unemployment,or large,unplanned expenses.Ideally,women will not only be included but will have fully equal access to the opportunities that financial inclusion provides,including reaching economic stability,building intergenerational wealth and using access to capital

58、to innovate and become entrepreneurs.Entrepreneurship,financial inclusion,and resilience are closely intertwined:financial inclusion is essential to entrepreneurship,given that to be recognized as a formal business,bank accounts and financial statements are required in most contexts.Similarly,to gro

59、w ones business and gain access to formal credit and/or investment a credit history and financial statements are usually a condition.Womens lower rates of financial inclusion and their concentration in the informal sector reinforce each other and obstruct women entrepreneurs from growing and formali

60、zing their businesses.This is compounded by the disproportionate burden of unpaid care work that women perform,as workers in the informal economy are normally excluded from paid leave and benefits structures for reproductive work and childcare,which can further obstruct womens ability to grow and su

61、stain a business.Pension systems are also usually limited to formal(wage)workers.The challenges are manifold,but simple improvements in legal foundations and processes,such as equality in contract-signing and business registration processes,and reductions in the cost could significantly increase bus

62、iness formalization,which in turn could significantly increase womens financial inclusion.This is covered in chapter 4,as well as gender gaps in business ownership,savings and borrowing for entrepreneurship.This report contains data analyses of a non-exhaustive set of indicators on womens access to

63、finance and the various spillover effects on their lives.The analyses reflect a data set of selected members and associate members of the Economic and Social Commission for Asia and the Pacific(ESCAP)where data were available for at least 15 of the 34 selected indicators on womens access to finance,

64、laws on inheritance and asset ownership,financial wellbeing and data related to business and entrepreneurship.In all,35 members and associate members met the selection criteria and have been included in the analysis.Given rapidly changing environments and post-COVID-19 economic recoveries in the sel

65、ected members and Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?8associate members,it was a priority to use the most up-to-date data.For all indicators,the most recent data were used;figures from the last 10 years have been included.In all section

66、s and for all indicators,values for women and men,as well as gender differences have been examined to understand where issues affect the entire population and where gender gaps exist.The data describing gender differences may not sum to 100 per cent due to rounding.The data used in this study were c

67、ollected from three main sources.The World Bank Global Findex Database(Findex)and subsequently the data included in the Gender Portal includes probability-based and nationally representative data on the resident adult population,age 15+.Data were drawn from the Social Institutions and Gender Index(S

68、IGI)of the Organisation for Economic Co-operation and Development(OECD),on gaps between women and men created by legislation,attitudes and practices in terms of rights,justice and empowerment opportunities at all stages of their lives.Data were also drawn from the GSMA Mobile Connectivity Index,whic

69、h contains nationally representative data based on quotas in line with census data.As the list of indicators is limited and the data were collected from secondary sources and samples,based on static data points,the findings cannot fully represent the situation in any economy.Nevertheless,the data pr

70、ovide a benchmark to track progress.The available sources predominantly use a binary definition of women and men and this report has maintained the definitions found in the source data.The authors recognize gender definitions along a spectrum,and including non-binary identities would have be prefera

71、ble however availability of this data is limited.Additionally,the data do not account for unregistered and/or stateless women and men who are excluded from official statistics.This report has four main sections.In all sections and for all indicators,values for women and men as well as gender differe

72、nces have been examined to understand issues that affect the entire population.Chapter 1 contains an analysis of financial inclusion,in terms of access to bank accounts,savings and loans,use of digital money and savings,old-age savings and pensions.It provides an overview of the existence of discrim

73、inatory formal and informal laws that limit access to financial services,as well as gender differences in access to these services.Chapter 2 contains an analysis of gender gaps and discrimination regarding womens asset control,ownership and inheritance to understand how formal and informal laws affe

74、ct womens access to collateral and subsequently financial products.In chapter 3,the spotlight is on financial resilience and worry about paying for medical bills,education fees,expenses in old age and regular household expenses.The aim is to understand if individuals would be able to raise emergency

75、 funds and their level of concern.The focus of chapter 4 is on gender disparities in entrepreneurship.It contains an analysis of legal and time differences in starting a business,access to start-up capital and womens participation in business ownership.The annex includes profiles which present the d

76、ata analysed for the Member States and Associate Members included in the study.Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?9ANALYSIS OF DIMENSION 1:While there is no universally accepted definition of financial inclusion,it can be broadly define

77、d as equitable access to well-regulated and affordable financial products and services such as transactions,savings,credit,remittances,insurance,pension and social security payments.8 There is increasing recognition of the multiple dimensions of financial inclusion,which has been identified as a fun

78、ction of access,availability and usage.9 Notably,access does not necessarily imply usage even when financial services are available,additional barriers constrain uptake and usage among particular groups,such as women,rural populations,micro-and small enterprises,those in informal employment and pers

79、ons 8 See ESCAP,2023,Policy approaches for financial inclusion;Cyn-Young Park and Rogelio Mercado,Jr.,2021,Understanding financial inclusion:What matters and how it works.ADBI Working Paper Series,No.1287.9 Cyn-Young Park and Rogelio Mercado,Jr.,2021,Understanding financial inclusion:What matters an

80、d how it works.ADBI Working Paper Series,No.1287.with disabilities.Moreover,usage of financial products and services has different outcomes for different groups and may not always result in reduced inequalities(see chapter 3 on financial resilience and worry).In the past decade,considerable progress

81、 towards financial inclusion has been made in the Asia-Pacific region,with targeted programmes and strategies emerging to tackle the financial exclusion of women.However,gender disparities in access to financial services persist,both between and within countries.This chapter provides an analysis of

82、available data related to financial inclusion from 35 members and associate members in the Asia-Pacific FINANCIAL INCLUSIONFinancial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?10region.Recognizing the various dimensions of financial inclusion,data have b

83、een analysed in relation to the following:National identity documents(IDs),measuring ID ownership among women as a national ID is often a requirement for access to financial products Bank accounts,measuring financial account ownership and whether informal laws are an obstacle for women Digital and m

84、obile money understanding gender differences in cell phone and mobile money account ownership Access to loans and borrowing from a formal financial institution,where the gender gaps exist and whether informal laws prevent women from accessing credit Savings and pensions,gender gaps in formal savings

85、 account owners,old age savings and recipients of public pensions 1.1 National identity documentsDocument ownershipOwnership of a verifiable identity document(ID)is critical to accessing essential financial services,including bank accounts,credit and financial activities such as saving,owning proper

86、ty,obtaining loans and expanding businesses.It has broader implications for citizenship,such as exercising political rights,participating in formal labour,mobility and 10 See https:/blogs.worldbank.org/digital-development/850-million-people-globally-dont-have-id-why-matters-and-what-we-can-do-about.

87、11 See https:/documents1.worldbank.org/curated/en/953621531854471275/Global-ID-Coverage-Barriers-and-Use-by-the-Numbers-Insights-from-the-ID4D-Findex-Survey.pdf.12 World Bank,2019,“Achieving universal access to ID:Gender-based legal barriers against women and good practice reforms”;Sophie Romana,202

88、2,With an ID in Hand,Women Have More Economic Opportunities.Technical Report.Cambridge,Donor Committee for Enterprise Development.13 Cate Sumner,2015,“Indonesias Missing Millions:Erasing Discrimination in Birth Certification in Indonesia”.14 World Bank Group,2019,Global ID Coverage,Barriers,and Use

89、by the Numbers:An In-Depth Look at the 2017 ID4D-Findex Survey.15 ADB,2016,Identity for development in Asia and the Pacific.Mandaluyong City,Philippines.access to social protection.Nevertheless,although proof of identity eliminates a significant obstacle to financial services,the lack of formal ID d

90、oes not automatically result in exclusion from all services,and having formal ID does not necessarily translate into access.Globally in 2022,an estimated 850 million people lacked formal ID,with women and girls disproportionately impacted.10 According to latest estimates from the World Bank,44 per c

91、ent of women in low-income countries lack ID,compared to 28 per cent of men.11 Obstacles to womens ID ownership are broad,ranging from limited household decision-making power,the need for women to be accompanied by men relatives to register,travel constraints,lack of education or information and com

92、munications technology skills,or gender biases in related laws surrounding responsibilities for birth registration.12 In Indonesia,for example,there is evidence that the time and cost of travel to obtain legal identity services is a significant constraint for poor rural women.13 In addition,it is wo

93、rth noting that many women and men report they lack ID because they perceive it as unnecessary for their daily lives.14The Asia-Pacific region has seen noteworthy advancements to national ID frameworks in recent years,but this evolution has been uneven,with both pioneering ID systems and those that

94、lag behind.15 In the 25 member states and associate members where data were available,the proportion of womens ID ownership is greater than 50 per cent,with the vast majority of members and associate members at greater Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close

95、 to gender parity?11than 70 per cent.The only exception is the Lao Peoples Democratic Republic,where only 55 per cent of women have a formal ID.In China and Thailand,according to the available data,100 per cent of women are in possession of formal ID,and in Azerbaijan,Kazakhstan and the Russian Fede

96、ration,this figure is 99 per cent.Evidence has shown that when having an ID is a condition for access to government social protection initiatives,this can spur a rise in ID ownership.Notably,according to an analysis of 2017 Findex data,79 per cent of respondents in Kazakhstan and around 70 per cent

97、in Russian Federation cited using their ID to access government services.16 Advances 16 World Bank Group,2019,Global ID Coverage,Barriers,and Use by the Numbers:An In-Depth Look at the 2017 ID4D-Findex Survey.17 See https:/ See OECD,2023,Social Institutions and Gender Index.in digitalization of ID s

98、ystems have also been instrumental to enhancing ID coverage.The Governments of China and Thailand are pioneering such advances,having made recent improvements to their national ID frameworks through increased adoption of technologies such as biometric IDs to overcome distribution barriers.In 2022,th

99、e Government of China announced a new national ID system to extend digital ID coverage across the entire country;17 and in Thailand,plans are underway to expand the countrys blockchain-based biometric digital identity infrastructure.18 While such advances are driving promising progress in ID coverag

100、e,as reflected in the data on ID ownership in these economies,such data do not account for unregistered,stateless women and men,who remain largely absent from official statistics and who are disproportionately excluded and not only from financial services.Informal laws and identity documentsWhile ov

101、ert measures to prevent women from applying for IDs are rare,gendered bias in related laws and restrictive social norms can create barriers,making it more challenging for women to obtain the necessary documents or comply with regulations governing access to IDs.Informal laws(customary,religious,or t

102、raditional laws/rules/norms)that create different rights or opportunities between men and women when it comes to applying for identity cards or passports have been identified in some of the members and associate members.19 In Pakistan for example,married women and married men were found to lack equa

103、l access to national IDs,where steps have been taken to address this(see case A closer look at access to identity documents in the Lao Peoples Democratic RepublicAccording to an assessment of civil registration and vital statistics,in 2017,there was no discernible gender gap in birth registration in

104、 the Lao Peoples Democratic Republic.World Bank data from 2021 show that bank account ownership in the country has no significant gender gap,which may be indicative of the link between account ownership and ID ownership.An analysis of 2017 Findex data suggested that 27 per cent of adults saw no need

105、 to have ID.Sources:See www.unescap.org/sites/default/d8files/event-documents/Presentation_Results%20and%20recommendations_Inequality%20assessment%20for%20CRVS%20in%20Lao%20PDR.pdf;World Bank Group,2019,Global ID Coverage,Barriers,and Use by the Numbers:An In-Depth Look at the 2017 ID4D-Findex Surve

106、y.Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?12study below).20 Qualitative evidence reveals such barriers in existence across the region.However,given the informal status of these obstacles,few are well documented and more research into this as

107、pect would be useful.1.2 Bank accountsBank account ownershipNational IDs are a necessary precursor to pass the Know Your Customer(KYC)requirements of financial institutions to open a bank account.Although account ownership alone does not imply financial inclusion,it is a crucial entry point to the f

108、ormal financial system,allowing for digital payments such as a wages,government transfers and remittances.In both high-income and developing economies the most common 20 Zainab Durrani,2023,Identity Crisis:Roadblocks in Womens Access to Basic ID Documentation in Pakistan.GenderIT.org,11 September;Wo

109、rld Bank,2019,“Achieving universal access to ID:Gender-based legal barriers against women and good practice reforms”.21 See www.worldbank.org/en/publication/globalfindex/Report.22 See www.worldbank.org/en/publication/globalfindex/Data.use for an account is to make or receive a payment,followed by sa

110、ving and borrowing.21 According to the latest World Bank Global Findex figures,global account ownership among adults increased from 51 per cent in 2011 to 76 per cent in 2021,and account ownership in developing countries reached 71 per cent in 2021.The gender gap in account ownership in developing c

111、ountries is steadily reducing,narrowing from 9 to 6 percentage points in recent years.22In the Asia-Pacific region,data were available for 32 members and associate members on the gender gap in ownership of a financial institution account.The rate of account ownership varies.While it is close to 100

112、per cent in Australia;Hong Kong,China;Japan;Mongolia;New Zealand;and the Republic of Korea,and it is above 70 per cent in 17 members and associate members for both women and men,account ownership is as low as 11 per cent for women and 21 per cent for men in Pakistan.Other members who have low accoun

113、t ownership include Cambodia where 31 per cent of women and 34 per cent of men have an account and Bangladesh where 31 per cent of women and 45 per cent of men have an account.Unsurprisingly,high-income members and associate members have the most widespread account ownership.Removing barriers to ide

114、ntity registration among women In certain rural areas of Pakistan,some men had prevented the authorities from registering women in their families and communities,or they had insisting on accompanying women to registration sites.To tackle this,the National Database and Registration Authority(NADRA)es

115、tablished mobile registry and all-women registration centres to overcome obstacles to registration.NADRA raised awareness on need for registration to be eligible for subsistence grants through the Benazir Income Support Programme,a national financial inclusion initiative.Source:See https:/www.cgdev.

116、org/sites/default/files/CGD-Essay-Malik_NADRA-Story_0.pdfFinancial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?13WOMEN MEN Source:World Bank Gender Portal,World Bank Findex AustraliaNew ZealandMongoliaJapanRepublic of KoreaHong Kong,ChinaSingaporeThailand

117、Russian FederationSri LankaMalaysiaChinaIran(Islamic Republic of)KazakhstanIndiaMaldivesGeorgiaTrkiyeIndonesiaNepalArmeniaPhilippinesTajikistanUzbekistanLao Peoples Democratic RepublicTurkmenistanCambodiaBangladeshViet NamAzerbaijanBhutanPakistanPercentage(%)01020304050607080901009998979899979896888

118、98990957877857085495656513850374634453129392199999999989792898988878484777471625250494139393836313129282811100Percentage of adult population with a financial institution account More women than men have an account in three member states(9 per cent),meaning the gender difference is skewed towards wom

119、en More men than women have an account in 15 member states (47 per cent),meaning the gender difference skewed towards men Gender parity(a gap of+/-1 per cent)was observed in 14 member states and associate members(44 per cent)Gender gapsOf the 32 selected members and associate members where data were

120、 available on the proportion of the population with a financial institution account:Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?14Notably,only three countries have a gender difference where a higher percentage of women than men have a financial

121、institution account.The largest difference is in Kazakhstan at 5 percentage points followed by Indonesia and Mongolia at 2 percentage points.In Mongolia,99 per cent of women have an account(compared to 97 per cent of men),while 52 per cent of women in Indonesia have an account,which shows the need t

122、o increase account ownership for both women and men.The greatest gender differences skewed towards mens ownership of financial institution accounts is in Trkiye(23 percentage points);85 per cent of men have an account in contrast to 62 per cent of women.Research has found account ownership among wom

123、en in Trkiye to be strongly correlated to labour force 23 Klapper and Singh,2015,“The Gender Gap in the Use of Financial Services in Turkey”.Washington D.C.,World Bank.24 Data for Bhutan are from 2014,and data for Maldives are from 2017.participation(though this was not the case for men).23 The same

124、 study found that women in Trkiye were more than twice as likely as men to report distance as a barrier and were also more likely to report a lack of trust in banks.A significant gender difference where mens account ownership is higher is also evident in Bangladesh(15 percentage points)and Bhutan,Ma

125、ldives24 and Uzbekistan,at 11 percentage points.Among these countries,Uzbekistan,Bangladesh and Bhutan had relatively low overall account access at 50 per cent,45 per cent,and 39 per cent,respectively(with a gender difference skewed toward men).Access was much higher in Maldives at 85 per cent for m

126、en and 74 per cent for women,however the gender gap is still an issue.Source:World Bank Gender Portal,World Bank Findex AustraliaNew ZealandMongoliaJapanRepublic of KoreaHong Kong,ChinaSingaporeThailandRussian FederationSri LankaMalaysiaChinaIran(Islamic Republic of)KazakhstanIndiaMaldivesGeorgiaTrk

127、iyeIndonesiaNepalArmeniaPhilippinesTajikistanUzbekistanLao Peoples Democratic RepublicTurkmenistanCambodiaBangladeshViet NamAzerbaijanBhutanPakistanDifference(percentage point)-25-20-15-10-5051052211111111000-1-1-1-2-3-3-4-7-7-9-10-10-10-11-11-11-15-23Positive=higher proportion of women who own a fi

128、nancial institution accountNegative=higher proportion of men who own a financial institution accountA gap of+/-1 per cent=Gender parityGender difference in financial institution account ownershipFinancial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?15Whil

129、e Fiji is not included in the World Bank Global Findex data for this indicator,the Reserve Bank of Fiji reported that more than 90 per cent of men own an account compared to 78 per cent of women in 2020.25 Similarly,a recent survey in Samoa found a gender difference in favour of men;44 per cent of m

130、en compared to 36 per cent of women are likely to own a current account for conducting financial transactions.26 Among the selected members and associate members,14 have no discernible gender gap in account ownership,namely Australia;Georgia;Hong Kong,China;India;Japan;the Lao Peoples Democratic Rep

131、ublic;Malaysia;New Zealand;the Republic of Korea;the Russian Federation;Singapore;Sri Lanka;Tajikistan;and Viet Nam.In the majority of these members and associate members account ownership is greater than 70 per cent,but it is much lower,for example,in the Lao Peoples Democratic Republic at 37 per c

132、ent and Tajikistan at 39 per cent.While such figures shed some light on access to accounts,more research is needed to better understand usage.Informal laws on bank accountsAccording to data from the World Bank,women and men can open a bank account in the same way in all 34 members and associate memb

133、ers where data were available.However,as is the case for ID registration,informal laws and norms around opening a bank account may create different rights or abilities for women and men.Data from the OECD Social Institutions 25 See www.afi-global.org/wp-content/uploads/2022/05/FIJI-NATIONAL-FINANCIA

134、L-INCLUSION-STRATEGY-2022-2030.pdf.26 www.uncdf.org/article/8489/assessing-digital-and-financial-literacy-in-samoa.27 Erica Paula Sioson and Chul Ju Kim,2019,“Closing the Gender Gap in Financial Inclusion through Fintech”.ADBI Policy Brief No.2019-3(April).28 Time poverty is the burden of competing

135、claims on an individuals time that reduce an individuals ability to make unconstrained choices in how they allocate their time leading to increased work intensity and to trade-offs among various tasks.See www.adb.org/sites/default/files/publication/177465/sdcc-balancing-burden.pdf/A.Kes and H.Swamin

136、athan,2005,“Gender and Time Poverty in Sub-Saharan Africa”.In C.Blackden and Q.Wodon(eds.)Gender,Time Use,and Poverty in Sub-Saharan Africa.(Washington,D.C.,World Bank).pp.1338.)29 See www.adb.org/sites/default/files/publication/576086/sdwp-67-financial-products-services-women-asia-pacific.pdf.30 Se

137、e Gender Index(SIGI)identifies such barriers in seven countries predominantly in South Asia and the Pacific;namely Fiji,India,the Islamic Republic of Iran,Maldives,Nepal,Pakistan and Samoa.In addition to strict requirements for personal identification,a wide range of obstacles to account ownership e

138、xist that are not captured in the data.For example,for low-income women,who may lack funds to open and maintain accounts,costs associated with bank fees and transactions may be prohibitively high.27 Moreover,low-income women,particularly those working in the informal sector who tend to be remunerate

139、d in cash,may not consider a bank account to be necessary or appropriate for them.Womens combination of paid and unpaid work responsibilities may cause time poverty,28 thus women living in remote areas may be unable to travel long distances to reach bank branches that are far from home.29 Where lite

140、racy rates are low among women,challenges arise in completing the forms required to open an account without assistance.30 Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?1631 See www.unescap.org/kp/2022/policy-guidebook-harnessing-digital-technology

141、-financial-inclusion-asia-and-pacific.32 Erica Paula Sioson and Chul Ju Kim,2019,“Closing the Gender Gap in Financial Inclusion through Fintech”.ADBI Polic Brief No.2019-3(April).1.3 Digital and mobile moneyMany of the traditional barriers to account ownership among underserved and unbanked women ha

142、ve been significantly reduced through advancements in digitalizing financial products and services.31 In particular,lower transaction costs,the removal of transportation obstacles and better product design associated with financial technologies such as mobile money represent significant opportunitie

143、s to advance the financial inclusion agenda,particularly where the traditional banking system is underdeveloped.32 Moreover,the ability to carry out financial transactions online instead of visiting a branch may help women faced with time poverty.Mobile money account ownershipData on mobile money ac

144、count ownership were available in 21 of the selected member states.Tailoring financial products to tackle gendered cultural norms in NepalGendered cultural norms around the management of finances and the financial reliance of women on men in their family impact account ownership among women.To tackl

145、e this issue in Nepal,Global IME Bank launched its To My Beloved account,to encourage men to open accounts and make deposits for women in their household.The accounts are set up by men,but women have full control.While such measures may promote positive shifts in the attitudes and behaviour of men,t

146、hey do little to challenge the status quo.However,it is nonetheless a good practice for financial institutions to adapt their services to meet womens needs.It is important to collect sex-disaggregated data and use it to develop tailored financial products and services.Moreover,having better represen

147、tation of women in bank branches can help to make women more comfortable with accessing banking services.Source:See MEN Source:World Bank Gender Portal,World Bank Findex MongoliaThailandRussian FederationMalaysiaSingaporeBangladeshMaldivesPhilippinesArmeniaTrkiyeIndonesiaIran(Islamic Republic of)Geo

148、rgiaCambodiaIndiaLao Peoples Democratic RepublicNepalViet NamPakistanSri LankaTajikistanPercentage(%)010203040506070576434273438282518239179815793145360573229272019191613108855444321Percentage of adult population with a mobile money account Financial resilience,inclusion and entrepreneurship:Is Asia

149、 and the Pacific close to gender parity?17In comparison to financial institution accounts,ownership of mobile money accounts is much lower,peaking at 60 per cent of the population in Thailand and 59 per cent in Mongolia.Ownership is 10 per cent or below in 10 countries,highlighting low usage across

150、the region.Gender gapsOf the 21 member states where data were available on the proportion of the population with a mobile money account:Mongolia and Malaysia are the only two member states where mobile money account ownership is higher among women than men.Mongolia has the highest proportion of wome

151、ns ownership at 60 per cent.Womens ownership in Malaysia is much lower at 29 per cent however this remains above mens at 27 per cent.In Indonesia,Georgia and Viet Nam,womens mobile money account ownership was low at 9 per cent,8 per cent and 3 per cent,respectively,and there was no gender gap in own

152、ership of a mobile money account in these three countries.More women than men have an account in two member states(10 per cent),meaning the gender difference is skewed towards women More men than women have an account in 16 member states (76 per cent),meaning the gender difference skewed towards men

153、 Gender parity(a gap of+/-1 per cent)was observed in three member states and associate members(14 per cent)Source:World Bank Gender Portal,World Bank Findex MongoliaMalaysiaIndonesiaViet NamGeorgiaLao Peoples Democratic RepublicArmeniaRussian FederationTajikistanSri LankaCambodiaNepalPhilippinesThai

154、landSingaporeIran(Islamic Republic of)MaldivesTrkiyeIndiaPakistanBangladesh-25-20-15-10-505103210-1-2-3-3-3-3-3-5-6-7-7-8-9-10-10-11-18Difference(percentage point)Positive=higher proportion of women own a mobile money accountNegative=higher proportion of men own a mobile money accountA gap of+/-1 pe

155、r cent=Gender parityGender difference in mobile money account ownershipFinancial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?18Gender differences skewed towards men were noted predominantly within South Asia.Among the 16 countries that have a gender diffe

156、rence in favour of men,the difference is highest in Bangladesh(18 percentage points),Pakistan(11 percentage points),Trkiye(10 percentage points)and Maldives(9 percentage points).In those countries,mens account ownership was relatively low:38 per cent in Bangladesh,28 per cent in Maldives,23 per cent

157、 in Trkiye and 14 per cent in Pakistan.Notably,among the 16 member states with a difference in mobile money account ownership in favour of men,only eight also have a corresponding gender gap in cell phone ownership.This suggests that access to and affordability of technology is significant but just

158、one among many factors influencing the gender difference in access to and usage of digital and mobile money.For example,uptake of digital banking channels remains low among particular groups,such as older people who typically prefer to use brick and mortar branches.Research has shown that while wome

159、n customers appreciate the convenience of digital channels,they tend to place more importance on customer service than men,prioritizing face-to-face interactions that facilitate assistance and build trust,particularly for those unfamiliar with financial products.33 Overall,the rise of digital techno

160、logy has greatly benefitted the financial inclusion agenda,with several Asia-Pacific emerging markets at the forefront of this advancement,pioneering the use of financial technologies.However,risks such as fraud,transaction errors or privacy breaches are more prevalent in the context of mobile and d

161、igital money,and groups with lower levels of digital and financial literacy are particularly vulnerable.33 See www.wsbi-esbg.org/wp-content/uploads/2022/11/Scale2Save_Driving_formal_savings_paper_2022.pdf.Understanding the reverse financial inclusion gap in MongoliaIn Mongolia,the existence of a“rev

162、erse gender gap”in financial inclusion has been identified,with women reporting higher access to and use of formal financial services compared to men of the same age,education,income and employment status.Men have been found to be more likely to report barriers to formal financial services and use i

163、nformal financial sources,and they are more likely to work in the informal sector.This disparity has been attributed to specific gender roles and norms in Mongolia related to education,work and rural/urban disparities.Notably,Mongolian women have higher levels of education than men(though this has n

164、ot translated into higher representation in decision-making roles),with more boys than girls,particularly in rural areas,dropping out of school early to contribute to family income from informal economic activities such as herding.When there are economic constraints,it is more likely for schooling f

165、or girls to be prioritized,with an expectation that women would enter professions that require formal education,while men are expected to take over family businesses,for which formal education is deemed less relevant.Moreover,men dominate employment in rural areas(predominantly agriculture and minin

166、g),making it more likely for women to seek employment and education in cities,where access to formal financial services and digital infrastructure is higher.Source:Enerelt Murakami,2022,“Understanding financial inclusion in Mongolia from a micro perspective:Is there a gender gap?”JICA Ogata Research

167、 Institute Working Paper.Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?19Combined with increased accessibility of credit through digital lending,digital technologies can lead to inappropriate use of financial services,exacerbating issues such as o

168、verindebtedness.34 Therefore,34 See www.unescap.org/kp/2022/policy-guidebook-harnessing-digital-technology-financial-inclusion-asia-and-pacific.35 See www.unescap.org/kp/2023/policy-approaches-financial-inclusion-examination-approaches-across-asia-and-pacific-and.36 See www.worldbank.org/en/publicat

169、ion/globalfindex/Report.while increased digitalization in banking presents opportunities for womens financial inclusion in the region,it also places greater responsibility on policymakers,regulators and financial service providers to protect vulnerable groups from related risks,ensuring that digital

170、 services are delivered responsibly and lead to greater economic opportunities and increased resilience among women.35 Ultimately,more work needs to be done to safely leverage fintech to address the gender gap in financial inclusion.1.4 Access to loans Borrowing from formal financial institutionsThe

171、 proportion of the population borrowing from a financial institution widely varies across the region.Unsurprisingly,such borrowing is most common in high-income members and associate members,ranging between 60 per cent and 70 per cent of the population in Hong Kong,China;Japan;New Zealand;and the Re

172、public of Korea.On the other end of the spectrum,less than 50 per cent of the population in 21 economies have borrowed from a financial institution,with the lowest at 4 per cent of the population in Pakistan.While the levels of formal borrowing may seem low,informal borrowing from family and friends

173、 often takes place in low-income economies.36 For example,30 per cent of the population of Pakistan have borrowed money informally from kinship ties or semi-formally from various associations such as rotating savings and credit associations(ROSCA).Similarly,a study on access to finance in five count

174、ries in South-East Asia found that many women owners of small and medium-sized New Zealand:High uptake of digital financial services;low financial confidence and well-beingHigh uptake of digital financial services does not necessarily translate into improved financial resilience or confidence among

175、women,and there are broader issues around financial well-being and confidence that need to be addressed.Findings from a recent report from the Financial Services Council exploring financial confidence and well-being in New Zealand,show a higher uptake of certain digital financial services,such as on

176、line banking and smartphones banking apps among women compared with men.However,the same study found that women tended to rate their levels of financial literacy as lower than men.More than 80 per cent of surveyed women rated their level of financial well-being as moderate,low,or very low,and more t

177、han 60 of women reported that they frequently worry about money,while 62 per cent of women felt unprepared for retirement.The research showed that women in New Zealand are nonetheless actively engaged with budgeting,saving and investing.Aside from the obvious financial obstacles women face,these fin

178、dings suggest that confidence and self-perception are key factors preserving financial disparities between women and men.This reinforces the fact that measures to enhance financial inclusion must advance alongside efforts to grow financial resilience and well-being,even in a high-income country.Sour

179、ce:Financial Services Council,2021,“Money&You.Women and Financial Well Being in New Zealand”.Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?20enterprises(SMEs)reported a preference for relying on informal and more flexible sources of financing such

180、 as loans from family and friends,which are deemed sufficient for small business expansions with low capital requirements,but not for larger growth opportunities,compounding womens representation in the micro and small business segment.37 In addition,religious norms may also contribute to low levels

181、 of borrowing in some economies.38Gender gapsOf the 32 members and associate members where data were available on the proportion of women and men borrowing from a financial institution:37 Womens World Banking,2013,Savings:A Gateway to Financial Inclusion.38 See www.alrayanbank.co.uk/guide-islamic-fi

182、nance.Five members and associate members have a gender gap where the percentage of women borrowing from a formal financial institution is higher than the percentage of men,namely Indonesia(7 percentage points);Cambodia(6 percentage points);Hong Kong,China(5 percentage points);Australia(4 percentage

183、points);and Bangladesh(3 percentage points).While the proportion of women borrowing is high in Hong Kong,China(72 per cent),and Australia(59 per cent),it is much lower in Cambodia at 34 per cent and Bangladesh and Indonesia at 16 per cent.Some women may prefer informal to formal borrowing.WOMEN MEN

184、Source:World Bank Gender Portal,World Bank Findex Hong Kong,ChinaRepublic of KoreaNew ZealandJapanAustraliaSingaporeChinaMongoliaCambodiaKazakhstanRussian FederationTrkiyeThailandArmeniaGeorgiaIran(Islamic Republic of)Sri LankaViet NamIndonesiaBangladeshMaldivesPhilippinesMalaysiaNepalAzerbaijanTaji

185、kistanIndiaLao Peoples Democratic RepublicTurkmenistanUzbekistanBhutanPakistanPercentage(%)0102030405060708067736062554539352829305134312528212491325211416181313871144726461605941393434302924232323222119161615151313131210107543Percentage of adult population who borrowed from a formal financial insti

186、tution The percentage of women borrowing is higher in 5 members and associate members (16 per cent),meaning the gender difference is skewed towards women The percentage of men borrowing is higher in 15 member states (47 per cent),meaning the gender difference skewed towards men Gender parity(a gap o

187、f+/-1 per cent)was observed in 12 member states and associate members(38 per cent)Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?21A closer look at the gender dimensions of access to loans in CambodiaOverall,womens economic participation in Cambodi

188、a is high,with women estimated to own the majority(61 per cent)of businesses and greater participation of women entrepreneurs in the private sector than in other countries in the region.a/Many financial institutions in Cambodia encourage women to take out loans for starting businesses with preferent

189、ial interest rates.b/However,For example,research in Sri Lanka and Timor-Leste shows that women prefer semi-formal mechanisms of borrowing as the interest stays within the community group.39 In the 15 member states where a higher percentage of men borrow from a formal financial institution,the diffe

190、rence ranges widely from as much as 26 percentage points in Trkiye(51 per cent of men borrowed compared to 24 per cent of women)to just 2 percentage points in Japan(62 per cent of men compared to 60 per cent of women).While the large gender gaps skewed towards men in some member states point towards

191、 systemic inequalities,low levels of borrowing overall in other member states point to overall low uptake of credit in those countries,which may also explain low rates of borrowing among women.For example,there is a 6 percentage point difference in borrowing in Uzbekistan and the rates of borrowing

192、are low for both men(11 per cent)and women(5 per cent).Similarly,in Fiji 10 per cent of men have a credit account compared to 7 per cent of 39 See www.monash.edu/_data/assets/pdf_file/0005/2482871/Gender-analysis-of-oxfam-savings-and-loans-groups-in-timor-leste.pdf; www.afi-global.org/wp-content/upl

193、oads/2022/05/FIJI-NATIONAL-FINANCIAL-INCLUSION-STRATEGY-2022-2030.pdf.women,however it is noted that people prefer to borrow through informal mechanisms.40 In 12 member states,there was no difference in the proportion of women and men that borrowed formally;although borrowing rates varied across the

194、 region.For example,60 per cent of the adult population in New Zealand borrowed formally,compared to less than 10 per cent of the adult population in the Lao Peoples Democratic Republic,Pakistan and Turkmenistan.Source:World Bank Gender Portal,World Bank Findex IndonesiaCambodiaHong Kong,ChinaAustra

195、liaBangladeshLao Peoples Democratic RepublicKazakhstanNew ZealandTurkmenistanBhutanSri LankaMongoliaPakistanTajikistanChinaMalaysiaRussian FederationJapanNepalGeorgiaIndiaSingaporeAzerbaijanViet NamIran(Islamic Republic of)UzbekistanPhilippinesArmeniaRepublic of KoreaMaldivesThailandTrkiye-30-25-20-

196、15-10-5051076543110000000-1-1-1-2-3-3-3-5-5-5-5-6-6-8-9-9-11-26Difference(percentage point)Positive=higher proportion of women borrowing from a formal financial institutionNegative=higher proportion of men borrowing from a formal financial institutionA gap of+/-1 per cent=Gender parityGender differe

197、nce in borrowing from a formal financial institutionFinancial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?22in line with global trends,women-owned businesses in Cambodia tend to be smaller and less profitable than businesses owned by men.a/Banks surveyed

198、by IFC in 2019 estimated that approximately 80 per cent of the borrowers in micro-and small segments are women,with women receiving on average smaller amounts than men,and twice as many men as women using funds to expand their businesses.According to a 2022 report by the Credit Bureau Cambodia(CBC)b

199、ased on data submitted by its 185 members,as well as banks,microfinance institutions,leasing institutions and rural credit institutions,women borrowers outnumber men in all but two provinces Phnom Penh and Ratanakiri where loan amounts are higher.Smaller amounts are more likely to be borrowed by wom

200、en in rural provinces,who typically use funds for small businesses,farming,or property maintenance.b/While increased accessibility of loans for women in Cambodia,alongside the expansion of fintech solutions in the country tailored to women-led businesses,has created opportunities for women-led SMEs

201、in rural areas,there are mounting concerns that the growth of the Cambodian credit market,particularly microcredit,has been excessive.Because women are traditionally tasked with financial management in Cambodia,they tend to bear the brunt of the strains created by over-indebtedness.Moreover,despite

202、womens roles as financial managers of the household,the control of funds commonly remains with men in the family.c/Sources:a/International Finance Corporation,2019,Exploring the Opportunities for Women-owned SMEs in Cambodia.Available at https:/documents1.worldbank.org/curated/en/654951573044863479/

203、pdf/Exploring-the-Opportunities-for-Women-owned-SMEs-in-Cambodia.pdf;b/ Hanan Morsy and Hoda Youssef,2017,Access to Finance Mind the Gender Gap.25 December.Available at https:/ or http:/dx.doi.org/10.2139/ssrn.3092974.42 Julie A.Nelson,2012,“Are Women Really More Risk-Averse than Men?”,GDAE Working

204、Paper No.12-05;Antonio Filippin and Paolo Crosetto,2014,“A Reconsideration of Gender Differences in Risk Attitudes”,IZA Discussion Papers,No.8184.Informal laws on creditAccording to data from the World Bank,women have the same legal rights as men to obtain credit in all 34 members and associate memb

205、ers where data were available.However,data from OECD SIGI show that informal laws limit womens access to credit in nine countries,namely Armenia,Fiji,India,the Islamic Republic of Iran,Maldives,Pakistan,Samoa,Sri Lanka and Tajikistan.A wide range of factors have been identified as contributing to th

206、e gender gap in access to loans across the region,including social norms,customs and bank processes.This includes supply side constraints such as strict collateral requirements and high interest rates,which continue to disadvantage women in the formal credit market.These are compounded by legal and

207、cultural barriers to womens land and property ownership and womens overrepresentation in the informal sector and resulting lack of documentation of business operations.Moreover,low financial literacy,low levels of confidence(as opposed to overconfidence among men)and fear of failure have been found

208、to discourage women from applying for loans,which is reinforced by discriminatory lending practices and more stringent loan arrangements for women.41 Many financial service providers are reticent to invest in women-led businesses,because they are perceived to have greater risk aversion and women-own

209、ed enterprises are often assumed to be less profitable,despite mounting evidence debunking the assumption that women are necessarily more risk-averse than men.42 Because financial service providers seldom view women as bankable or profitable,and have limited understanding of women-led businesses,the

210、re is a dearth of products,Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?23services and channels that cater specifically to their needs,and gender-blind processes persist.The prevalent gender disparity in access to finance from mainstream institut

211、ions has driven the rise of microfinance,providing a large number of women across the region with small-scale loans and credit to support poor households and small-scale enterprises.The growing provision of microfinance has been broadly credited with improving household incomes and revenues for micr

212、o-and small enterprises,increasing labour diversification and contributing to better education and health outcomes for poor households.While positive outcomes have been recorded in many cases,microfinance solutions are not transformative for most as they are insufficient to allow women to scale up t

213、heir businesses.In addition,funds provided to women are often subject to control by men relatives and do not necessarily result in economic empowerment or the necessary breakdown of ingrained social norms and structural inequalities.43 Like traditional financial services,microfinance has been critic

214、ized for failing to be gender responsive by not recognizing womens unpaid care burden and requiring inflexible payment schedules as well as regular meetings,thereby creating a double burden by adding to womens working hours and potentially exacerbating womens time poverty.44 Additionally,it plays on

215、 gender stereotypes and womens shame to ensure payments,which may in fact reinforce gender norms and womens subordinate position in society.45 Moreover,issues related to indebtedness and predatory lending have been widely documented across the region.43 See https:/voxdev.org/topic/finance/what-happe

216、ns-when-investments-targeting-womens-microbusinesses-go-men;and Laksmi Kumar,2013,Illusion of Women Empowermen in Microfinance:A case study.Economic and Political Weekly,vol.48,No.15(13 April),pp.7076.44 See https:/repub.eur.nl/pub/18707/.45 See https:/ Savings and pensionsKey to accessing a loan,in

217、vesting in a business,planning for the future,or coping with an unforeseen economic shock,is the ability to save securely and build assets.In line with the gender gap in access to bank accounts and other core financial services,a significant disparity persists with regard to formal savings.A mismatc

218、h between womens need to save and ability to do so persists,which drives a significant gap in the levels of financial stability experienced by women and men.According to World Bank Global Findex data from 2021,59 per cent of men said they could reliably come up with emergency money,compared with 50

219、per cent of women(further discussed in chapter 3).Factors influencing the gender gap in savings include lower and more unpredictable incomes among women,varying rates of financial literacy,lower levels of control over household finances and perceptions among low-income women that formal financial se

220、rvices are not of use to them.Formal savingsIn the Asia-Pacific region,27 members and associate members had available data on the gender difference in formal savings through a financial institution or mobile money account.The proportion of adults who save varies across the region from more than 60 p

221、er cent in Australia,Japan,New Zealand and Singapore to less than 10 per cent in Pakistan,Tajikistan and Uzbekistan.In five countries the gender difference favours women,namely the Republic of Korea(4 percentage points),the Lao Peoples Democratic Republic(3 percentage points)and Financial resilience

222、,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?24The percentage of women with formal savings is higher in 5 member states(19 per cent),meaning the gender difference is skewed towards women The proportion of men with formal savings is higher in 18 members and associate

223、 members (67 per cent),meaning the gender difference skewed towards men Gender parity(a gap of+/-1 per cent)was observed in 4 member states and associate members(15 per cent)Source:World Bank Gender Portal,World Bank Findex Republic of KoreaLao Peoples Democratic RepublicMalaysiaChinaAustraliaGeorgi

224、aMongoliaKazakhstanTajikistanJapanThailandSingaporeUzbekistanNew ZealandIndiaBangladeshNepalIndonesiaArmeniaPakistanSri LankaRussian FederationCambodiaHong Kong,ChinaTrkiyeIran(Islamic Republic of)Philippines-10-8-6-4-2024643222110-1-2-2-2-2-2-3-3-3-3-4-5-5-5-6a-7-7-9Difference(percentage point)Posi

225、tive=higher proportion of women saving from a formal financial institution or through mobile moneyNegative=higher proportion of men saving from a formal financial institution or through mobile moneyyA gap of+/-1 per cent=Gender parityGender difference in saving from a formal financial institution or

226、 through mobile moneyWOMEN MEN Source:World Bank Gender Portal,World Bank Findex AustraliaNew ZealandJapanRepublic of KoreaSingaporeHong Kong,ChinaThailandMalaysiaChinaSri LankaMongoliaIran(Islamic Republic of)KazakhstanIndonesiaLao Peoples Democratic RepublicPhilippinesRussian FederationNepalIndiaG

227、eorgiaTrkiyeBangladeshArmeniaCambodiaUzbekistanTajikistanPakistanPercentage(%)01020304050607068716558616355484436292819221625221815813910104257068636260575350463230211919191716151396654210Percentage of adult population who saved at a formal financial institution or through mobile moneyGender gapsOf

228、the 27 members and associate members where data were available on the gender gap in formal savings through a financial institution or mobile money account:Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?25Australia,China and Malaysia at 2 percentage

229、 points.More than 50 per cent of women in Australia,the Republic of Korea and Malaysia and 46 per cent of women in China have formal savings while in the Lao Peoples Democratic Republic the figures are much lower at 19 per cent.In 15 member states with data,less than 20 per cent of women have formal

230、 savings.However,women are known to save informally such as within the home or through savings groups,partly because financial services may not meet their needs or because of challenges in accessing formal services.46 Despite the gender gap in access to formal savings in many of the members and asso

231、ciate members,research suggests that women,who are often tasked with juggling the financial needs of the household,including making sure that school fees are paid and health emergencies are covered,are highly adept at saving.47 Despite being faced with low and irregular incomes,and even in cases whe

232、re a woman lacks her own source of income,women are often expected to take on the role of financial planner of a household,pooling income from family members to meet financial goals.However,due to obstacles to accessing the financial system,women are more likely than men to save informally,for examp

233、le,by storing cash at home or participating in local savings groups,which can be less secure than formal savings accounts.48 Socioeconomic markers such as marital status,household position,age class and income level all influence the financial behaviour of women with regard to saving.However,researc

234、h has shown that savings for daily expenses and to cope with unexpected setbacks tend to be priorities for women,while longer-term 46 See Womens World Banking,2013,Savings:A Gateway to Financial Inclusion.48 Ibid.49 See www.wsbi-esbg.org/wp-content/uploads/2022/11/Scale2Save_Driving_formal_savings_p

235、aper_2022.pdf50 Womens World Banking,2013,Savings:A Gateway to Financial Inclusion.investment-related savings tend to be less prevalent,particularly for low-income women,who have little funds to put aside and higher risks of financial struggles in their day-to-day life.49 Accordingly,low-income wome

236、n tend to value flexibility and the ability to save in small amounts and make irregular deposits,while being able to retain access to their money in case of adverse events.50 Affordability is also a key factor for women when assessing savings products.In this context,it is necessary for banks to ada

237、pt their offerings,products,and processes to meet these needs.Brac Bank:Tailoring savings products to women in BangladeshBangladesh-based Brac Bank,which is known for its focus on serving small and medium-sized enterprises,offers savings products tailored towards women,including an account with low

238、opening balance requirements,no deposit fees,no monthly maintenance charge,one free withdrawal per quarter,and tiered interest rates,ranging from 3 per cent to 6 per cent based on account balance.Women customers reported that the pricing of this savings account was a key driver of uptake and usage.B

239、rac Bank tailors products to specific target segments such as women micro-entrepreneurs,incentivizing savings for business related investments.Source:https:/.bd/category/Bangladesh/brac-banks-tara-launches-savings-campaign-with-special-offer-for-women/126247;and www.wsbi-esbg.org/wp-content/uploads/

240、2022/11/Scale2Save_Driving_formal_savings_paper_2022.pdf.Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?26A gender difference favouring men was found in 18 member states and associate members.This difference is highest in the Philippines(9 percenta

241、ge points),followed by the Islamic Republic of Iran and Trkiye at 7 percentage points and Hong Kong,China,and Cambodia at 6 percentage points.Within this subset,Hong Kong,China,is the only economy where the proportion of men who have formal savings is above 60 per cent.Despite the wide gender differ

242、ence in favour of men,mens borrowing is low in Trkiye and Cambodia at 13 per cent and 10 per cent respectively.The figures for formal savings in Pakistan are particularly low;while only 5 per cent of men have formal savings,the proportion of women who have formal savings is negligible altogether.How

243、ever,as in the case of savings,many people in Pakistan use informal solutions instead of formal financial services.In fact,13 per cent of women have saved money in some form,mostly informally.It is difficult to account well for the prevalence of informal saving,yet the evidence suggests that informa

244、l saving is more common among women,albeit informal savings rates are still low.Key reasons for low savings rates include low levels of disposable income.In some contexts,religious norms may also once again play a role.Four countries are at parity,namely Mongolia,Kazakhstan,Georgia,and Tajikistan.Ho

245、wever,savings in those countries are low,ranging from 30 per cent in Mongolia to 2 per cent in Tajikistan.The figures show that even though a gender difference in savings is not a concern,the low levels of savings overall is.51 Brink,2018,The Gender Gap in Retirement Savings in ASEAN.52 See www.unes

246、cap.org/sites/default/files/SDPB%202019-01_Pensions%20Older%20Women.pdf.53 See www.weforum.org/agenda/2023/08/3-reasons-the-retirement-crisis-is-a-women-s-crisis-and-3-reasons-it-isnt/.54 ILO,2022,Closing gender gaps in social protection:What workers organizations need to know.Policy Brief,July;www.

247、unescap.org/sites/default/files/SDPB%202019-01_Pensions%20Older%20Women.pdf.55 ILO,2022,Closing gender gaps in social protection.Savings for old age and pensionsIn addition to saving to achieve short and mid-term goals,the ability to accrue savings for old age is crucial to long-term financial secur

248、ity.Given the higher average life expectancy of women and their lower participation in the workforce compared with men,the financial well-being of women after retirement age is at greater risk.51 In the Asia-Pacific region,it is typical for older persons,particularly older women,to rely on financial

249、 support from their families.52 However,as family sizes decrease and cultural norms shift,and needs for long term care increase,this will become more challenging,making it all the more important to ensure equitable access to pensions.Currently,a gender pension gap exists in almost every country acro

250、ss the globe,with womens retirement balances more often than not significantly lower than mens.This disparity can be broadly attributed to the fact that women typically earn less,work differently,and live longer.53 Specifically,the fact that women face a higher risk of working in precarious and info

251、rmal employment affects their ability to build up pension entitlements and makes them less likely to be covered by mandatory pension schemes.54 Moreover,when they are enrolled in a pension scheme,womens contribution history tends to be discontinuous as a result of career interruption related to unpa

252、id care responsibilities during critical earning years.55 Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?27The percentage of women with savings for old age is higher in 12 member states (38 per cent),meaning the gender difference is skewed towards

253、women The percentage of men with formal savings for old age is higher in 13 members and associate members (41 per cent),meaning the gender difference skewed towards men Gender parity(a gap of+/-1 per cent)was observed in 7 member states and associate members(22 per cent)KazakhstanChinaMongoliaNepalN

254、ew ZealandTurkmenistanAustraliaRepublic of KoreaAzerbaijanIndonesiaSingaporeViet NamArmeniaSri LankaJapanBhutanPakistanTajikistanCambodiaLao Peoples Democratic RepublicGeorgiaBangladeshMaldivesIran(Islamic Republic of)MalaysiaIndiaRussian FederationTrkiyeHong Kong,ChinaUzbekistanThailandPhilippines-

255、10-8-6-4-20246866433322222211100-1-1-2-2-2-2-3-3-3-4-4-4-6-6-8Source:World Bank Gender Portal,World Bank Findex Difference(percentage point)Positive=higher proportion of women saving for old ageNegative=higher proportion of men saving for old ageA gap of+/-1 per cent=Gender parityGender difference i

256、n saving for old ageWOMEN MEN Source:World Bank Gender Portal,World Bank Findex New ZealandSingaporeJapanAustraliaRepublic of KoreaMalaysiaHong Kong,ChinaThailandChinaPhilippinesIndonesiaLao Peoples Democratic RepublicTurkmenistanViet NamIran(Islamic Republic of)MongoliaKazakhstanMaldivesSri LankaNe

257、palRussian FederationTrkiyeArmeniaCambodiaIndiaAzerbaijanBhutanPakistanGeorgiaUzbekistanBangladeshTajikistanPercentage(%)01020304050607067665955535448433139242517172114121914111615891167671175706760585551443737312624201918181817161512109887755555Percentage of adult population who saved for old ageGe

258、nder gapsOf the 32 selected member states and associated members where data were available on the gender difference in the proportion of adults with savings for old age:Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?28A closer look at womens financ

259、ial security In old age:Singapore According to the findings from the Global Women and Money Study 2023 by Fidelity International,44 per cent of women in Asia and the Pacific think they would only be able to support themselves after retirement for under 20 years.Although the available data from Singa

260、pore reveal that the proportion of women who have saved money for old age is comparatively high,at 67 per cent,women nonetheless face considerable concerns in this regard.In Singapore,where the cost of living is on the rise,the average life expectancy for women is 86 years,approximately five years m

261、ore than men,and retirement age for women is currently 63,meaning that the majority of women would need their retirement funds to last an average of 23 years.The study found that 80 per cent of surveyed women in Singapore have concerns about their well-being in the future,and only 27 per cent feel c

262、onfident that they will be able to save enough for retirement.As coping mechanisms,the study found that women in Singapore,as well as elsewhere in the region,tend to focus on budgeting and saving,as opposed to expanding their retirement income pool through investing.In Singapore,less than one third

263、of the surveyed women felt that investment was for them,compared to 43 per cent of men.Sources:.hk/en/articles/inspiration-and-ideas/2023-05-10-fidelity-international-global-women-money-study-2023-1683680597518; for old ageThis indicator measures the proportion of people who reported saving or setti

264、ng aside any money in the past year for old age.Over 65 per cent of adults in New Zealand and Singapore have saved money for old age.In contrast,only 5 per cent of adults in Tajikistan and 6 per cent of adults in Pakistan,Bangladesh and Georgia set aside money for later in life.The rate of populatio

265、n ageing can also play a role in the variation of figures;economies with ageing populations are more likely to have a higher proportion of adults that have set aside savings for old age,while economies with younger populations may have fewer adults that have started saving for old age.Of the 12 memb

266、er states where a higher proportion of women have saved or set aside money for old age,the largest differences are seen in China and Kazakhstan at 6 percentage points.In Kazakhstan,18 per cent of women and 12 per cent of men have set aside money,as have 37 per cent of women and 31 per cent of men in

267、 China.The highest proportion of women have saved money for old age in New Zealand,Singapore and Japan at 70 per cent,67 per cent and 60 per cent respectively.The gender gaps in New Zealand and Singapore are small at 3 percentage points and 2 percentage points,respectively,and Japan has gender parit

268、y in this respect.At the other end of the scale,only 5 per cent of women have saved for old age in Bangladesh,Georgia,Pakistan,Tajikistan,and Uzbekistan.In those countries,the gender difference is low or non-existent apart from in Uzbekistan where savings were 6 percentage points higher for men at 1

269、1 per cent which is still considerably low.A gender difference skewed towards men is seen in 13 members and associate members.The largest differences were seen in the Philippines(8 percentage points),and Thailand and Uzbekistan at 6 percentage points.43 per cent and 39 per cent of men(compared to 37

270、 per cent and 31 per cent of women)had set aside money for old age in Thailand and the Philippines,while,as mentioned above,only 11 per cent of men(and 5 per cent of women)had saved in Uzbekistan.Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?29Sev

271、en countries are at parity,namely Bhutan;Cambodia;Sri Lanka;Pakistan;Armenia;Tajikistan;and Japan.Among these countries,savings at the overall population level are substantial(59 per cent)only in Japan.In Sri Lanka,15 per cent of the population had saved for old age and savings in the remaining were

272、 below 10 per cent.It is important to note not only that these figures do not account for informal savings women(or men)may accrue in their lifetime,such as stored cash or jewellery,the data do not capture disparities between men and women in terms of the value of such savings,or the differences in

273、the ability of different groups of women to save.When analysing the gender gap from a different angle,and among specific subgroups of men and women,a starker picture may emerge.For example,according to a 2018 study comparing retirement savings of low-income working men and women in Hong Kong,China;I

274、ndonesia;Malaysia;Singapore;and Thailand,a much greater gender gap was found when looking at the difference between the total value of retirement savings of men and women at the age of retirement.56 Among the target populations surveyed,it was found that women,on average,have 32 per cent less in ret

275、irement savings than men.This gap was found to be most acute in Malaysia,Thailand and Indonesia,with Malaysia having the highest retirement savings gap of 46 per cent.Clearly,more in-depth research is needed to better understand and quantify the various dimensions of the gender savings gap,and its i

276、mplications for gender equality.Government pensionsIn the Asia Pacific region,overall pension coverage is low,with less than 50 per cent of the 56 See See www.social-protection.org/gimi/Media.action;jsessionid=q754_HsMJC_NyoCEbZFPcEGFFkjCzEWuFnmUSnCsxXVT4la-JwFu!1393577045?id=16877.58 See www.unesca

277、p.org/sites/default/files/SDPB%202019-01_Pensions%20Older%20Women.pdf.59 Ibid.working age population covered by a mandatory pension scheme,based on an analysis of data from selected members and associate members in the region from 20172019.57 In line with global trends,mandatory pension coverage in

278、the selected members and associate members is typically linked to formal labour participation.Womens overrepresentation in the informal sector is therefore a key driver of the gender gap in access to pensions.Notably,in 2018,womens formal labour force participation in the region was estimated at 45

279、per cent,compared to 77 per cent for men.58 In Fiji,India,Japan,Republic of Korea,Thailand and Viet Nam,in an effort to extend coverage to the informal sector and other sectors where mandatory coverage is not feasible,Governments promote voluntary pension contributions.59 However,voluntary social in

280、surance schemes generally fail to reach vulnerable groups with volatile or low incomes and therefore limited contributory capacity.Findex data show that the highest proportion of adults receiving a public sector pension is in Japan at 33 per cent which comes at little surprise given Japans rapidly a

281、geing population.More than 20 per cent of adults receive a public sector pension in Australia,Georgia and the Russian Federation.At the other end of the scale,only 1 per cent of adults in Indonesia,the Lao Peoples Democratic Republic and Pakistan receive a government pension.Of the 11 member states

282、with a gender difference skewed towards women,the highest differences are seen in the Russian Federation(10 percentage points),Japan(9 percentage points),Australia and New Zealand(8 percentage points in both).Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender

283、 parity?30The percentage of women receiving a government pension is higher in 11 member states(35 per cent),meaning the gender difference is skewed towards women The percentage of men receiving a government pension is higher 11 members and associate members (35 per cent),meaning the gender differenc

284、e skewed towards men Gender parity(a gap of+/-1 per cent)was observed in 9 member states and associate members(29 per cent)Russian FederationJapanAustraliaNew ZealandGeorgiaKazakhstanMongoliaAzerbaijanUzbekistanTajikistanIndiaPakistanThailandPhilippinesIndonesiaSingaporeChinaSri LankaBangladeshCambo

285、diaRepublic of KoreaLao Peoples Democratic RepublicHong Kong,ChinaNepalViet NamMalaysiaTurkmenistanArmeniaMaldivesTrkiyeIran(Islamic Republic of)-15-10-5051015109887773322110000-1-1-1-2-2-3-3-3-3-3-4-4-8-11Source:World Bank Gender Portal,World Bank Findex Difference(percentage point)Positive=higher

286、proportion of women receiving a public sector pensionNegative=higher proportion of men receiving a public sector pensionA gap of+/-1 per cent=Gender parityGender difference in receiving a public sector pensionWOMEN MEN Source:World Bank Gender Portal,World Bank Findex JapanRussian FederationAustrali

287、aGeorgiaNew ZealandKazakhstanUzbekistanMongoliaAzerbaijanTajikistanRepublic of KoreaTurkmenistanTrkiyeIndiaArmeniaPhilippinesThailandIran(Islamic Republic of)ChinaMaldivesViet NamSri LankaNepalPakistanMalaysiaSingaporeCambodiaHong Kong,ChinaBangladeshIndonesiaLao Peoples Democratic RepublicPercentag

288、e(%)05101520253035402818201917141812881213187126517698551523421238282826252120191111101010986655544322111110Percentage of adult population who received a public sector pensionGender gapsOf the 31 selected members and associated members where data were available on the proportion of adults receiving

289、a public sector pension:Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?31The highest proportion of women receiving a public sector pension are in Japan(38 per cent),Australia and the Russian Federation(28 per cent in both).By contrast,less than 1 p

290、er cent of women receive a public sector pension in the Lao Peoples Democratic Republic,and 1 per cent receive a public sector pension in Bangladesh;Cambodia;Hong Kong,China;Indonesia and Singapore.This explains the high proportion of the adult population with savings for old age in Singapore(67 per

291、 cent),as public sector pension disbursements are very low.The largest gender difference skewed towards men is in the Islamic Republic of Iran at 11 percentage points:17 per cent of men compared to 5 per cent of women receive a public sector pension,followed by a gap of 8 percentage points in Trkiye

292、 where 18 percent of men get a government pension.Similar to women,the highest proportion of men receiving a pension is in Japan(28 per cent),Australia(20 per cent)and Georgia(19 per cent).Almost the same five member states,as for women,have the lowest level of men receiving a pension;only 1 per cen

293、t of men in Indonesia and Pakistan and 2 per cent of men in Bangladesh,the Lao Peoples Democratic Republic and Singapore receive a government pension.In all nine member states at gender parity,the proportion of the adult population receiving a public sector pension is low,peaking at 6 per cent in th

294、e Philippines.Due to broader gender inequalities throughout the lifecycle,even when women are statutorily covered by contributory pension schemes,the benefit levels for women tend to be significantly 60 See www.unescap.org/sites/default/files/SDPB%202019-01_Pensions%20Older%20Women.pdf.;www.ilo.org/

295、wcmsp5/groups/public/-ed_dialogue/-actrav/documents/publication/wcms_855079.pdf.61 See www.unescap.org/sites/default/files/SDPB%202019-01_Pensions%20Older%20Women.pdf.62 UN Women,2012,“CEDAW Women s rights and retirement age in Viet Nam”.63 See www.social-protection.org/gimi/Media.action;jsessionid=

296、q754_HsMJC_NyoCEbZFPcEGFFkjCzEWuFnmUSnCsxXVT4la-JwFu!1393577045?id=16877.64 See www.unescap.org/sites/default/files/SDPB%202019-01_Pensions%20Older%20Women.pdf.lower than for men.60 This is compounded by gender bias in the design of many pension schemes;for example,the retirement age is lower for wo

297、men in several member states.61 Despite widespread perceptions that this practice is beneficial to women,a lower retirement age likely reduces the amount of the monthly pension benefit,and may also impede womens training opportunities,career growth and equal access to higher level and better paid po

298、sitions.62 In Viet Nam,where for many years,the statutory requirement for men was 60 compared with 55 for women(though this gap is gradually being decreased),a decision to maintain a gap over the years has been based on the premise that early retirement is a means of compensating women for the addit

299、ional care burden they face.However,such policies ultimately reinforce and play into traditional norms and gender roles rather than reduce them.63 The available data suggest that a significant proportion of pension systems in the region are not gender responsive.Notably,there is no recognition of ab

300、sence in work due to childcare in pension benefits in 22 of the 34 members and associate members(64 per cent)where data were available.To address this,in Japan,childcare credits for up to three years are made available for women,and benefits are based on contributions prior to the childcare period.6

301、4 In Malaysia,a housewives social insurance scheme is in place,targeting housewives,widows,divorcees and any woman whose role is to manage the household.Through the scheme,women,particularly those who are single,are encouraged to make a minimum monthly contribution into the employees provident Finan

302、cial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?32fund,which is matched by a government contribution.65 Further efforts and initiatives are needed to reform pension systems across the region,ensuring that they address and do not reinforce the structural

303、disadvantages faced by women.1.6 ConclusionThe analysis in this chapter featured the latest broadly available data on national ID ownership,bank account ownership,access to loans,digital and mobile money,formal savings and government pensions to capture the current status of womens financial inclusi

304、on in the region.No single indicator can effectively measure financial inclusion.The available data analysed reveal that there is still much work to be done to ensure that financial systems across the region are gender inclusive.Moreover,there is a clear disparity in progress from country to country

305、,and discriminatory norms and practices persist alongside other obstacles,which continue to constrain uptake and usage of financial services among women.Common obstacles across all dimensions range from limited household decision-making power,time poverty and career interruption due to a higher burd

306、en of care responsibilities,lower incomes and lower participation in formal employment among women,technological and transportation hurdles,a lack of demand driven products and services,discriminatory lending practices and so on.Notably,the broader structural challenge of womens limited asset owners

307、hip and control is a key barrier that must be overcome to achieve womens meaningful financial inclusion and economic participation.This is explored in more depth in chapter 2.While the data analysed in this chapter can 65 New Straits Times,2022,“Overwhelming response to Housewives Social Security Sc

308、heme”.give a sense of the progress being made towards financial inclusion and closing the remaining gaps,further research is needed to better understand the context-specific drivers of financial exclusion among women in each country and to gain a better understanding of the impact of enhancing finan

309、cial inclusion for different groups of women.In this regard,it is important to note that financial inclusion initiatives can lead to negative implications for individuals financial well-being,and efforts to promote financial inclusion to all often fail to challenge the balance of power that allows i

310、nequality to persist.It is important to consider not only financial inclusion,but also financial resilience and well-being,which is explored further in chapter 3.Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?33ANALYSIS OF DIMENSION 2:When measurin

311、g womens participation in the economy and gender gaps in access to finance,asset control and ownership are critical.Asset ownership is often both the result of financial inclusion and economic success and a prerequisite for access to finance and economic opportunities.Ownership and control over asse

312、ts including land and/or housing have direct and indirect benefits for households and individuals by providing a secure place to live,a means for making a living,protection during emergencies and a means for holding savings for the future,as well as by serving as collateral for accessing credit,bein

313、g financially included and as an opportunity to build wealth.66 This chapter provides an analysis of ownership and control of assets in the Asia-Pacific region among 35 members and associate members 66 Cheryl Doss,Caren Grown and Carmen Diana Deere,2008,“Gender and Asset Ownership:A Guide to Collect

314、ing Individual-Level Data”.Policy Research Working Paper No.4704,Washington D.C.,World Bank.67 Data from www.oecd.org/stories/gender/social-norms-and-gender-discrimination/sigi/dashboard.where data were available.67 The indicators included here are:Legal rights to own and use land assets to understa

315、nd where laws prohibit equal access to land ownership and measuring land ownership by gender Legal rights to own non-land assets to understand where laws prohibit equal access to non-land ownership and measuring property ownership by gender Inheritance rights to understand where laws prohibit equal

316、access to inheritance between women and men and sons and daughters These indicators provide insights into womens asset ownership in the region.However,much more data would be needed to fully describe ASSET CONTROL AND OWNERSHIP Financial resilience,inclusion and entrepreneurship:Is Asia and the Paci

317、fic close to gender parity?34womens asset ownership,especially womens control over assets,and the state of womens wealth in the region.Data for several of the indicators in this chapter were particularly scarce,and there is a general need for more sex-disaggregated data on diverse indicators coverin

318、g these topics,as well as more data for the aforementioned indicators.2.1 Ownership of land assets Data on womens ownership of land assets includes womens legal rights to own and use land assets(compared to those of men),distinguishing between formal laws and informal rules and customs,and womens ac

319、tual land ownership.While land ownership is a crucial asset category and important across the economy,it is of particular relevance in agriculture.In the Asia-Pacific region around 36.1 per cent of those employed in agriculture in 2021 were women.68 Additionally,a trend of men leaving agricultural w

320、ork for non-agricultural employment and an increased demand for unskilled labour in agriculture has been observed,which has led to women performing a higher share of agricultural work.69 In a context where agriculture continues to represent a significant share of the economy and women make up a sign

321、ificant workforce in the sector,womens ownership of and ability to use land is critical for their economic independence,empowerment and opportunities.Legal rights to own and use land assetsGender gapsOf the 34 members and associate members where data were available on whether all68 This figure accou

322、nts for total employment,including both formal and informal employment.69 See www.adb.org/sites/default/files/institutional-document/731791/adou2021bp-gender-food-insecurity-covid-19.pdf.70 See https:/equalitynow.org/discriminatory_law/sri_lanka_matrimonial_rights_and_inheritance_ordinance_no_1_of_1

323、911/.women have the same legal rights as men to own and use land assets:Formal lawsIn the Philippines,the Family Code grants administrative rights to the husband over a couples assets(including land)in cases of disagreement between spouses.In Sri Lanka,the law restricts married women from disposing

324、of and dealing with her own land without the written consent or her husband.70 Informal lawsIn half of the member states that formally grant women and men equal rights to own and use land assets,there are informal laws(customary,traditional or religious laws/rules)Women and men have the same formal

325、legal rights to own and use land assets in 26 members and associate members (76 per cent)Women and men have the same formal legal rights to own and use land assets,but legal exceptions to these rights are applied to some groups of women in 6 member states (17 per cent)Women and men have the same for

326、mal legal rights to own land assets,however,women do not have the same legal rights as men to use and/or make decisions over land in 2 member states (7 per cent)Financial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?35that curtail womens rights.For example

327、,under the Constitution of Malaysia,men and women share the same rights to own,acquire and manage,and dispose of assets,but this does not extend to the private sphere of Muslim communities where Sharia Law(coupled with traditional practices)may have de facto authority.71 Similarly,in Timor-Leste,evi

328、dence confirms the existence of customary and religious practices that discriminate against women regarding ownership and inheritance of land assets.72 At first glance,women and men may appear to have equal legal rights across the region,but in reality,most countries are far from parity when it come

329、s to owning and using land assets,as discriminatory social norms persist.Where data were available,21 member states(62 per cent of those selected for the study)have formal or informal legal provisions that limit some groups of women from ownership,use and/or making decisions about land.73 71 See htt

330、ps:/read.oecd-ilibrary.org/development/sigi-2021-regional-report-for-southeast-asia_236f41d0-en#page8372 See https:/read.oecd-ilibrary.org/development/sigi-2021-regional-report-for-southeast-asia_236f41d0-en#page83.73 See https:/equalitynow.org/discriminatory_law/sri_lanka_matrimonial_rights_and_inh

331、eritance_ordinance_no_1_of_1911/;https:/read.oecd-ilibrary.org/development/sigi-2021-regional-report-for-southeast-asia_236f41d0-en#page83.Womens land ownershipOf the 35 selected members and associated members,only seven(20 per cent)had available sex-disaggregated data on land ownership,limiting the

332、 analysis and opportunities to assess progress and identify good practices for increasing womens use and ownership of land.Governments should increase sex-disaggregated data collection on this indicator.Gender gapsOf the seven countries where data were available on womens land ownership:More men tha

333、n women own land in six countries (85 per cent)More women than men own land in one country (15 per cent)WOMEN MEN Source:OECD SIGI,2023Percentage(%)CambodiaTimor-LesteIndonesiaNepalArmeniaIndiaPakistan0102030405060708090100475258616365935348423937357Share of women and men among land ownersFinancial resilience,inclusion and entrepreneurship:Is Asia and the Pacific close to gender parity?36The data