ABSTRACT
This chapter surveys both the heterodox and neoclassical approaches to growth theory with an emphasis on the Global South. Growth can facilitate gender equality, especially if it occurs in the services sector, for instance, in care and education. In contrast, in a no-growth environment, gender equality requires a redistribution of resources that would result in a decline in men’s absolute well-being. Heterodox feminist macroeconomic models derive their formal structure from Keynesian, Kaleckian, and structuralist macroeconomic theories. The heterodox feminist models discussed recognize that there is no unique relationship between gender and economic growth. Regardless of the modeling approach, neoclassical models find that gender inequality dampens economic growth. A methodology for capturing impacts of globalization policies is to employ as explanatory variables the specific policies in question, such as the degree of trade, investment, and capital account liberalization as measured by trade shares of gross domestic product, foreign direct investment, and cross-border financial flows.
