## "Daring the Difference: The 3 L’s of Women’s Empowerment" — Christine Lagarde, Managing Director, International Monetary Fund

_IMF News, May 19, 2014_

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## Bibliographic details
- Authors: Christine Lagarde
- Published: May 19, 2014

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### Overview / Introduction
- Speech delivered at the National Democratic Institute, Washington DC, May 19, 2014.  
- Core message: adopt a 21st century mentality for women’s economic participation by "daring the difference"—expanding women’s contribution through Learning, Labor, and Leadership (the “3 L’s”).
- Framing: gender prejudice (“malignant mind bugs”) limits recognition of women in powerful roles and constrains economic potential.
- Ethical and economic imperatives: gender equality is both a moral duty and an engine for improved economic outcomes.

### Learning
Key findings and evidence:
- Women account for 41 percent of science and engineering doctorates in the US, but form less than a quarter of the workforce in science, technology, engineering and mathematics.
- One study: an extra year of primary school boosts earning potential by 10-20 percent.
- One study: an extra year of secondary school boosts earning potential by 25 percent.
- A study of 60 developing countries estimated the economic loss from not educating girls equally as boys amounted to $90 billion a year.
- One study suggests women invest up to 90 percent of their earnings on health and education, versus 30-40 percent for men.

Policy emphasis and implications:
- Prioritize girls’ and women’s education globally, with particular focus on developing countries.
- Education is framed as foundational—an “elevator” and “springboard”—to reduce exclusion and improve intergenerational outcomes.
- Public advocacy: support for figures like Malala Yousafzai; condemnation of extremist actions (e.g., Boko Haram) that deprive girls of education.

### Labor
Key findings and statistics:
- Estimated about 865 million women worldwide who have the potential to contribute more fully—described as almost a “blocked billion”.
- Gender participation gaps: range from 12 percent in OECD economies to 50 percent in the Middle East and North Africa.
- Globally, women earn only three-quarters as much as men (same education and occupation).
- Globally, women spend twice as much time on household chores as men, and four times as much time on childcare.
- Women constitute 70 percent of the billion people living on less than a dollar a day.
- Eliminating gender gaps in economic participation can increase income per capita substantially—examples: Middle East and North Africa gains of 27 percent; South Asia gains of 23 percent.
- Women account for over 70 percent of global consumer spending.
- Case studies: Brazil increased women’s participation from 45 percent to 60 percent in two decades through pro-family and pro-poor policies; Sweden achieves high female participation via childcare, early education, flexible work, and parental leave.

Policy recommendations and actions:
- Reform discriminatory laws (e.g., property and inheritance) to increase women’s economic agency.
- Improve access to healthcare, education, training, and credit for women in developing countries.
- Protect social safety nets in IMF-supported programs; IMF evidence shows spending on health and education rises faster in countries with programs the IMF supports.
- Adopt pro-women, pro-family policies in richer countries: publicly-funded parental leave, quality affordable childcare, individual taxation rather than family taxation, tax credits or benefits for low-wage workers.
- Encourage cultural change in workplaces: reduce norms favoring excessively long hours; value creative output over "face time".

### Leadership
Key findings and evidence:
- Only 4 percent of CEOs in the Standard and Poor’s 500 company list are women.
- Only one-fifth of parliamentary seats worldwide are held by women.
- Less than 10 percent of countries have female leaders.
- Firms with strong records of promoting women to prominent positions are 18-69 percent more profitable than median firms in their area (study cited).
- Men trade 45 percent more than women in a 1990s investment community experiment, and are more likely to lose big.
- A study of over 7,000 leaders showed women fared better in 12 of 16 competencies in 12 of 15 sectors.
- Women are often brought in to rescue troubled companies, although they are more likely to be fired from these turnaround positions.

Arguments and policy prescriptions:
- Women often lead with consensus-building, inclusion, long-term sustainability, and risk-aversion—traits valuable for crisis management and prudent economic governance.
- Gender targets and quotas are advocated to accelerate change—“the mountain is simply too steep to climb without a little help on the way up.”
- Promote mentors and role models to address confidence gaps; tackle the cultural barriers that leave competent women doubting themselves while underqualified men advance.
- Change attitudes that equate toughness with testosterone and reinforce male-dominated leadership norms.

### Conclusion and Call to Action
- The speech closes with a call to fulfill the promise of equal opportunity so every girl can fulfill her potential without impediment or prejudice.
- Final exhortation: “If we dare the difference, the difference will deliver.”
- Emphasized linkage: advancing the 3 L’s—Learning, Labor, Leadership—yields social and economic returns, and requires legal reform, policy action, cultural change, and targeted measures such as quotas and mentorship.

*Source: "Daring the Difference: The 3 L’s of Women’s Empowerment" — Speech by Christine Lagarde, Managing Director, International Monetary Fund, May 19, 2014.*

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## References

- [Brazil and the IMF](http://www.imf.org/external/country/BRA/index.htm)
- [Japan and the IMF](http://www.imf.org/external/country/JPN/index.htm)
- [Nigeria and the IMF](http://www.imf.org/external/country/NGA/index.htm)
- [Pakistan and the IMF](http://www.imf.org/external/country/PAK/index.htm)
- [Republic of Korea and the IMF](http://www.imf.org/external/country/KOR/index.htm)
- [Sweden and the IMF](http://www.imf.org/external/country/SWE/index.htm)
- [Tunisia and the IMF](http://www.imf.org/external/country/TUN/index.htm)
- [Speeches](https://www.imf.org/en/news/searchnews)
- [Christine Lagarde](https://www.imf.org/external/np/omd/bios/cl.htm)
- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2015/09/28/04/53/sp051914_