1. Presented by:-
Arsh Singh- 19bba006
Nayanika Mishra- 19bba028
Nilay Aadhar Hota- 19bba059
GENDER STEREOTYPES AND POLICY FRAMEWORKS AGAINST
WOMEN IN INTERNATIONAL TRADE VIS-À-VIS ACCESS TO
FINANCE
2. Women and Access to Finance
Access to finance refers to the ability of individuals and businesses to obtain financial
services, products, and resources to meet their financial needs. This includes access to
banking services, loans, credit, savings accounts, insurance, and investment
opportunities.
Discrimination against women in access to finance is a major issue, particularly in
developing countries. Women entrepreneurs face a range of barriers that prevent them
from accessing finance, including cultural and social biases, limited collateral, lack of
business skills, and discriminatory policies and regulations.
3. Lack of Collateral- One of the main challenges faced by women entrepreneurs is the lack of
collateral. Many women have limited assets that can be used as collateral to secure loans, which makes
it difficult for them to access traditional forms of financing.
Gender Based Discrimination- Additionally Due to cultural and social biases women often face
gender-based discrimination in the lending process, with lenders perceiving women as less
creditworthy or less competent than men, and many financial institutions favouring male borrowers
or requiring male guarantors for loans.
As per a report of OECD in 2016, except for the United States, Mexico, Greece, and Indonesia,
where men and women are equally likely to report having access to money, women are less likely than
men to get the financing required to launch a business. This gender gap can also be attributed to
discriminatory credit scoring and investment evaluations based on gender.
As a result, female business owners are more dependent on self-financing. Further, self-employed
women are more likely to be discouraged borrowers who decide not to apply for loans because they
think their application would be rejected.
4. RELATIONSHIP B/W ACCESS TO FINANCE AND INTERNATIONAL TRADE
Access to finance and international trade are closely interconnected. Access to finance
is necessary to participate in international trade, as businesses require capital to finance
production and export activities.
Conversely, international trade can provide opportunities for businesses to access new
markets and sources of finance, such as foreign investment etc.
Therefore, there can be no international trade without financing, although there can be
financing without international trade so access to finance has a very important role to
play in international trade.
5. IMPORTANCE OF ACCESS TO FINANCE AND INTERNATIONAL TRADE FOR
WOMEN
For women to be economically empowered and for there to be gender equality, access to
finance and international trade are essential. Women company owners and entrepreneurs
confront substantial obstacles when trying to access trade and financial possibilities, which
hinders their capacity to expand their enterprises and take part in the global economy. Women
may get through these obstacles and increase their economic independence and success by
boosting access to finance and international trade.
6. Further, access to finance and international trade can have significant social and economic benefits
for women and their families. When women have access to finance, they can invest in their
businesses, improve their households' living standards, and contribute to their communities'
economic development.
Similarly, when women participate in international trade, they can bring unique perspectives and
expertise, drive innovation and creativity, and contribute to global economic growth.
Therefore, promoting access to finance and international trade for women is critical for achieving
gender equality and promoting women's rights. By enabling women to participate in the global
economy and gain economic independence, we can reduce gender gaps in income, employment, and
opportunities. Furthermore, promoting access to finance and international trade can help challenge
gender biases and stereotypes, create more inclusive and diverse societies, and promote women's
leadership and representation in decision-making processes.
8. Elucidation
• In many nations, including India, there are gender stereotypes and prejudice against women.
These prejudices and misconceptions frequently prevent women from having equal access
to trade and financial opportunities, which in turn prevents them from achieving economic
empowerment and participating fully in the global economy.
• biases and gender stereotypes against women business owners and entrepreneurs can lead to
restricted access to credit. Due to societal expectations that prevent women from owning
property, banks and other financial institutions frequently view women as high-risk
borrowers and demand collateral. The complicated Indian financial system is difficult for
women to understand and navigate, which further restricts their access to finance.
• There is also major lack of woman in decision making process and their voice is often
absent in development of trade policies.
9. Continued..
• Women's financial and international commerce access needs legal and
regulatory improvements. This includes gender-bias-free financial system
changes and trade policy decision-making by women. Financial institutions
and banks must also offer collateral-free loans to women entrepreneurs and
business owners.
• Education and awareness are also critical for addressing gender stereotypes
and biases against women in international trade. Furthermore, awareness
campaigns must be conducted to challenge traditional gender roles and
biases against women in the industry.
11. Major Barriers
• DISCRIMINATORY LAWS AND REGULATIONS:- Property, inheritance, and credit rules in several countries discriminate
against women. These regulations might make it hard for women to start or run enterprises by restricting their property and
financial rights.
• LIMITED ACCESS TO FINANCIAL SERVICES:- Bank accounts, credit, and insurance are scarce for women. Due to lack of
collateral, financial illiteracy, and lender discrimination. Women may have trouble funding their enterprises or education without
financial assistance.
• GENDER BIAS IN TRADE POLICIES:- Trade rules and agreements may exclude women, reducing their ability to represent
their businesses and communities. Gender-blind trade policies may overlook women entrepreneurs' needs for childcare and flexible
work.
• LACK OF EDUCATION AND TRAINING:- Women may not have access to international trade education and training
programmes. Women may lack confidence and ability to pursue international business prospects without education and training.
• LIMITED ACCESS TO INFORMATION AND TECHNOLOGY:- Women may lack access to information and
communication technology, limiting their participation in global value chains and international markets. Technology might also
restrict their banking services and information access.
13. Beliefs & Stereotypes
• In international trade, women face a range of gender stereotypes and biases that limit
their ability to participate fully in the global economy. These gender stereotypes can
manifest in various ways, including in access to finance, business opportunities, and
decision-making roles.
• One common gender stereotype is the belief that women are less capable or competent
in business than men. This stereotype can limit women's access to financing, as lenders
may view women as less creditworthy or may have biases about women's ability to repay
loans.
• Women are often seen as caregivers, which can hinder their capacity to travel or attend
foreign business meetings. This might make it hard for women to connect with potential
partners or consumers and impede their business growth.
14. Continued..
• women may be excluded from decision-making roles in international trade due to
stereotypes about their leadership abilities. This limits their ability to shape trade
policies and negotiate favorable agreements that benefit their businesses and
communities
• In conclusion, international trade gender preconceptions and biases impede
women's economic participation. Economic empowerment and gender equality
require addressing these misconceptions. This means questioning gender roles,
fostering diversity and inclusion, and giving women more decision-making, financial,
and entrepreneurial chances. Gender equality in international trade can build a more
inclusive and prosperous global economy.
15. STEPS BY INDIA TO PROMOTE
GENDER EQUALITY
• BILATERAL AND MULTILATERAL TRADE AGREEMENTS: India has signed several bilateral and
multilateral trade agreements that include gender provisions like the India-ASEAN Free Trade Agreement
includes a commitment to promoting the participation of women in trade.
• INTERNATIONAL CONFERENCES: India has participated in international conferences and forums to
promote gender equality in international trade.
• TECHNICAL ASSISTANCE: India has collaborated with UNCTAD to provide technical assistance to
countries in Africa to promote the participation of women in trade, and has provided training programs for
women entrepreneurs in Afghanistan.
• COLLABORATIONS WITH INTERNATIONAL ORGANIZATIONS: India has worked with UN
Women to promote the Women's Empowerment Principles in Indian companies, and has collaborated with
the World Bank to develop gender- sensitive trade policies.
16. CONCLUSION
Addressing gender stereotypes and policy frameworks against women in
international trade is essential to creating a more inclusive and equitable global
economy that benefits all. By promoting gender-responsive policies and
initiatives, we can empower women entrepreneurs to participate fully in the
global economy, driving economic growth, and reducing poverty and inequality.
17. SUGGESTIONS FOR PROMOTING FINANCIAL
ACCESSIBILITY FOR WOMEN
• One of the most effective ways to promote women's access to finance and international
trade is through legal and policy reforms that address discriminatory laws and policies and
promote gender equality. Such reforms should focus on removing legal and regulatory
barriers that prevent women from accessing financial products and services and
participating in international trade. In addition, policy reforms should promote women's
economic empowerment by improving their access to education and training, promoting
gender-responsive financial services, and providing incentives for financial institutions to
serve women.
• Another key area for promoting women's access to finance and international trade is by
improving their access to financial products and services. This includes providing women
with access to financial education and training, creating gender-responsive financial
products, and increasing women's access to formal financial institutions.
18. • Education and Awareness Improving women's access to finance and international trade
also requires increasing their education and awareness about financial services and
trade opportunities. This includes providing women with training on financial literacy,
business skills, and trade opportunities, as well as raising awareness about the benefits
of economic empowerment and the risks of gender discrimination.
• Finally, promoting women's access to finance and international trade requires gender-
responsive trade policies that address the specific needs and challenges faced by women
in trade. This includes reducing gender-based barriers to trade, promoting gender-
responsive trade agreements, and ensuring that women have equal access to trade
opportunities.
