Abstract
Women’s economic participation and financial stability are key drivers of sustainable development, forming the foundation for equitable growth and long-term progress. This study investigates the relationship between macroeconomic factors, women’s economic participation, and sustainable development in Kazakhstan from 2013–2023. The analysis is focused on key indicators, including gross value added, deflator indices, shadow economy metrics, employment rates, and environmental protection investments. Two hypotheses were tested. Regression analysis was used: (1) structural factors such as economic growth, employment, and environmental policies significantly influence sustainable investments, and (2) women’s workforce participation positively impacts sustainable development. The results confirmed the first hypothesis, supporting those macroeconomic indicators, particularly deflator indices and the shadow economy, significantly impact shaping investment patterns. However, the second hypothesis is only partially supported, as women’s employment correlates with economic growth but is hindered by persistent disparities in workforce representation and access to resources. The findings of the research contribute to the existing body of knowledge on the dual role of macroeconomic stability and gender inclusion in driving sustainable development while identifying structural barriers limiting women’s full economic potential. The results reveal the importance of targeted, inclusive policies to enhance gender equity and sustainable progress, offering valuable insights for policymakers in Kazakhstan and other emerging economies.