EXPLORING THE RELATIONSHIP BETWEEN FEMALE POLITICAL EMPOWERMENT AND HUMAN CAPITAL SPENDING: EVIDENCE FROM A GLOBAL PANEL (1995–2022)

Abstract

This study explores the relationship between female political empowerment and
human capital development, with a particular focus on government expenditure on
education as a proxy for human capital investment. Using panel data from 178
countries spanning from 1995 to 2022, the paper applies several econometric
models, including Fixed Effects, System GMM, and Panel-Corrected Standard
Errors (PCSE), to identify potential causal relationships. The results suggest a
significant and positive association between women’s representation in parliament
and education spending in fixed effect and PCSE models, although the system
GMM model shows an insignificant relationship. These findings support the idea
that increasing women's political participation may enhance investments in human
capital, and they encourage further research and policy intervention to support
gender equality in governance.