However, we should bear in mind that lower participation rates are not necessarily simply associated with our personal preferences but are also triggered by our legal and regulatory environment, our tax systems and our social institutions. This may, for example, explain the low participation rates of women in Europe.
Measures aimed at reconciling motherhood with professional life, such as maternity leave, may raise participation rates, and the use of flexible forms of work may also provide a further incentive. 14 The empirical literature has also found evidence showing that economic growth is linked with the degree of development and structure of the financial system.