Gender equality is a highly debated issue worldwide because of its relevance to sustainable economic development. We want to analyse how law amendments can help improve females' economic status and then develop the economy.
We introduce a baseline model of household consumption decision-making and figure out the optimal decision which can maximize their utility.
Law amendments used to empower females in promotion rate, wage level and education have positive impacts on economic development. The ameliorative condition that the next generation possesses more physical capital and higher human capital accumulation makes it possible to produce and consume more than the predecessors.
Building on the existing frameworks of the household decision model and the growth model with physical and human capital, we extend attention to the implications of four core factors which impact females’ economic status and the role in which law amendments may play to improve this situation.
