Citation

Floro M, Dymski G. World Dev. 2000; 28(7): 1269-1283.

Copyright

(Copyright © 2000, Elsevier Publishing)

DOI

10.1016/S0305-750X(00)00025-5

PMID

unavailable

Abstract

This paper begins to remedy the neglect of gender aspects of financial crises by exploring a suggestive microfoundational model of unequal gender power and cost-bearing in a borrower household. This model shows that financial-market liberalization can assess women's access to formal sector employment and encourage the growth of household credit, both for a household enterprise and for the acquisition of labor-saving household assets. The price of these gains, however, is greater household risk because of greater cash-flow dependence and financial fragility. A financial crisis can force the household to bear heavier adjustment costs than would otherwise be felt; and these costs may well be borne disproportionately by women, who become more economically vulnerable as a result.