Abstract
This paper provides a comprehensive assessment of the determinants of gender inequality by analysing an unbalanced panel of 121 countries for the period 2000–2023. Using a fixed-effects model, the analysis investigates the impact of economic development, financial stability, women’s political representation, labour market characteristics, and female health indicators on the Gender Inequality Index (GII). The empirical strategy accounts for unobserved heterogeneity across countries and over time, allowing for robust identification of persistent causal patterns. The results indicate that higher levels of economic development and greater political representation of women are associated with lower gender inequality. In contrast, increases in female unemployment and vulnerable employment intensify gender disparities. Maternal mortality does not exhibit a statistically significant effect on GII, suggesting that its influence may operate indirectly through other structural and institutional channels. Financial stability, as measured by reserves, is negatively associated with gender inequality, indicating an understudied macro-financial dimension of gender outcomes. Overall, the findings contribute to a deeper understanding of the multidimensional drivers of gender inequality and provide evidence for the design of more effective policies. The study shows that advancing gender equality requires a combination of economic development, institutional reforms, improved healthcare systems, and strengthened political inclusion of women.