A Look on Sustainable Human Development, Gender Gap and Welfare: Evidence from Capital Markets

The main aim of this study is to evaluate the effects in countries with high human development opportunities and where the gender inequality index is not very high. This study examines the effects of the Gender Inequality Index (GGI) and the Human Development Index (HDI) on Stock Returns (SR). To this end; Annual data on Gender Inequality Index (GGI), Human Development Index (HDI), Stock Returns (SR), Inflation and Gross Domestic Product (GDP) variables of 12 developed and developing countries between 2012 and 2023 are analyzed. In this research, the Panel Data Analysis method is applied for the interaction between the variables. Therefore, we analyzed to confirm that capital market investors of countries with high human development opportunities and low gender inequality index will earn higher returns in the medium and long term compared to stock markets of other countries. The findings show that countries can reap both social and economic benefits by promoting gender equality rather than just focusing on economic growth, and gender equality can be an important driver for a sustainable global economy.