【经济学】高盛-女性经济学5.0（中英文）-2019.6-99页.pdf

PORTFOLIO STRATEGY RESEARCH | April 18, 2019 18 April 2019 | 8:18AM JST The following is a redacted version of the original report. See inside for details. Japan Portfolio Strategy Womenomics 5.0: 20 Years On (Redacted) What’s changed, what hasn’t; potential 15% GDP boost 20 WOMENOMICS 5.0 YEARS ON Since our initial Womenomics report in 1999, Japan now enjoys record female labor Kathy Matsui Progress, areas for improvement, +81(3)6437-9950 | kathy.matsui@ participation (71%) that surpasses the US and Europe, generous parental leave Goldman Sachs Japan Co., Ltd. potential 15% GDP boost benefits, improved gender transparency, and labor reforms. Areas for improvement Hiromi Suzuki +81(3)6437-9955 | include: a dearth of female leaders, gender pay gaps, inflexible labor contracts, tax hiromi.suzuki@ Goldman Sachs Japan Co., Ltd. disincentives, insufficient caregiving capacity, and unconscious biases. However, the Kazunori Tatebe reward for persistence is potentially sizeable. Specifically, we estimate that closing +81(3)6437-9898 | kazunori.tatebe@ the gender employment gap could lift Japan’s GDP by 10%, and in a “blue-sky Goldman Sachs Japan Co., Ltd. scenario” where the ratio of