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Scandalous EconomicsGender and the Politics of Financial Crises$
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Aida A. Hozic and Jacqui True

Print publication date: 2016

Print ISBN-13: 9780190204235

Published to Oxford Scholarship Online: April 2016

DOI: 10.1093/acprof:oso/9780190204235.001.0001

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The Global Financial Crisis’s Silver Bullet

The Global Financial Crisis’s Silver Bullet

Women Leaders and “Leaning In”

Chapter:
(p.41) Chapter 3 The Global Financial Crisis’s Silver Bullet
Source:
Scandalous Economics
Author(s):

Jacqui True

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780190204235.003.0003

This chapter argues that a crisis of legitimacy in financial and economic institutions has opened the way for the embrace of women’s leadership and for practical initiatives aimed at rectifying the gender imbalance in corporate executives and economic governance. The “spectre of gender” after the global financial crisis (GFC) is present in rational arguments supported by powerful evidence that more participation of women in markets increases a nation’s competitiveness, and that more equitable gender balance on boards yields higher investment returns. Research has also linked the paucity of women on boards and executives to suboptimal decision-making against the backdrop of the financial crisis. Supporting women’s leadership, then, is the GFC’s silver bullet. It enables states, corporations and the finance industry to redress perceptions of their risky and excessive behavior while avoiding major reform of the governance of markets.

Keywords:   women, leadership, economic governance, corporations, gender

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