Chile's Commitment to Women's Data
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Case Study Demand for Supply-side Data: Why Sex Disaggregating Financial Sector Information Is Important Catalyzing Inclusive Financial Systems: Analyzing who is included in and excluded from the financial sector is a key consideration for regulators, policymakers Chile’s Commitment and the private sector alike. Beyond measuring access, sex disaggregating data can to Women’s Data also provide regulators with a more nuanced view of who is accessing what kinds of products and channels, what Developing and maintaining inclusive financial systems is increasingly becoming a kinds of behaviors are being focal point for governments and international organizations around the world. As exhibited, and what types of this concern rises to the fore, the importance of incorporating a gender dimension financial services providers are into financial sector policy is becoming evident. Sex-disaggregated demand- and reaching which segments. This supply-side data are essential to do this, helping stakeholders to understand information can offer regulators differences in financial behavior between men and women, identify gaps in access a better understanding of the and use of financial services, generate policies that promote full inclusion, and effectiveness of policies designed monitor their impact. to maximize inclusion as well as help in designing new policies. In 2014, Data2X, the Inter-American National-level sex-disaggregated Development Bank (IDB) and the Global “This data presents detailed data is also crucial in prompting Banking Alliance for Women (GBA) partnered and objective information more banks to serve the Women’s to map the current state of sex-disaggregated which is vital to determine Market, as it enables them data in the financial sector, both at global where we are succeeding and to better size the market and and national levels, with the ultimate goals of understand its intricacies in greater where it might seem we are understanding the nature and scope of the detail. While information on the data gaps and sharing lessons on its collection, losing the [gender equality] demand side has much improved value and use. The results of this research battle. And of course, this is in recent years, with the launch of were published in the report “Measuring a battle that we do not have the Global Findex in 2010 as well Women’s Financial Inclusion: The Value of the luxury to lose.” as other regional and national- Sex-Disaggregated Data.” In 2015, the United level surveys, there remains a Nations Economic Commission for Latin President Michelle Bachelet dearth of sex-disaggregated data America and the Caribbean (ECLAC) joined this Chile from the suppliers of financial partnership, providing inputs and establishing services. Supply-side data is networks in Chile in support of the development of this case study. essential as it can be generated regularly and is comparable across Chile is the only country in the world that, until now, has consistently tracked banks and regions. It can also sex-disaggregated data on its financial system for over 10 years. The study provide detailed understanding explores why this was done, maps out the processes taken to generate the data, about women’s actual financial highlights current as well as potential uses of the data, and extracts the most behavior and product usage. important lessons so that regulators, policymakers and government entities in other Regulators can play an essential jurisdictions can learn from the country’s experience. role in promoting its collection and use to advance financial sector development. Catalyzing Inclusive Financial Systems: Chile’s Commitment to Women’s Data Case Study Establishing Gender Chile: A Gender Paradox Commitments Chile is one of the fastest growing economies in Latin America Each government Ministry was and has experienced significant reductions in poverty levels in the last few required to develop an annual decades. Globally, it has been recognized for its impactful and innovative commitment, which includes social policies, and is regarded for its exemplary work in implementing the gender goals set out in gender policies. Indeed, the country has narrowed gender gaps in many individual plans. A Council of 1 areas, including educational achievement and health outcomes. In 2013, Ministers for Equality (Consejo Chile topped the IDB’s WEVenture Scope Index for its favorable enabling de Ministros para la Igualdad environment for women entrepreneurs. de Oportunidades) was set However, a number of gender gaps persist, including in labor force up by the Presidency in 2000 participation (just half of the country’s women work – among the lowest to supervise the Ministry percentage in Latin America)2 and income disparity (women earn one- Commitments. SERNAM third of what men do).3 The WEVenture Scope Index also highlighted evaluates the commitments a lack of access to finance for Chilean women, with account usage (as every year, and achievements demonstrated by various Findex indicators) and microloan portfolios are recognized by the allocated to women (at 34 percent) both relatively low. Presidency. The development Applying a Gender Lens to Public Policy of commitments, with direct accountability to the Presidency, To address gender gaps and mainstream change across public ensured targets were entities, the National Women’s Agency (SERNAM) was created in consistently followed up on. 1991. SERNAM is a supervisory agency that ensures the public sector As an illustration of the types incorporates a gender focus when planning, budgeting, implementing and monitoring public policies. The agency works closely with the of commitments, the table Presidency, evaluating the work of the different ministries and presenting below summarizes those made achievements. In 2015, it was announced that SERNAM would be during the 2002-2004 time reconstituted as the Ministry of Women and Gender Equity. period. As shown, 52 percent of the Ministries included sex- In 1994 SERNAM developed its first 5-year Equal Opportunity Plan (PRIO) disaggregation of data, which in an effort to ensure inclusion of a gender perspective in public policy. reflects its prioritization across This was followed with a second plan, effective from 2000-2010, which government agencies. In later sought to mainstream gender issues across all government ministries. In years, however, an evaluation this period, ministries established annual gender goals, which were then rolled into annual commitments. Sex-disaggregated data was prioritized of the plan suggested that as a key element in the design and evaluation of public policies and targets should go beyond data legislative reforms as well as in the monitoring of annual gender goals.4 in setting up more specific initiatives that - based on 1 World Economic Forum Global Gender Gap Report 2015 data - focus more directly on 1 2 Policy Impact on Gender Equality in Chile impacting women. 3 Instituto Nacional de Estadísticas Chile 1 Integrar la Perspectiva de Género en las 4 Plan de Igualdad de Oportunidades entre Mujeres y Hombres 2000-2010 Instituciones y Políticas Públicas en Chile 60% 52% Focus of 50% Ministries’ 40% Gender 30% 22% Commitments 20% 18% 10% 2002-2004 4% 2% 0% Sex- Women’s Gender Staff Women- Disaggregated Participation Perspective Training Focused Data Programs Programs 2 Catalyzing Inclusive Financial Systems: Chile’s Commitment to Women’s Data Case Study President Michelle Bachelet was elected in 2006, that banks report sex-disaggregated data on their and she quickly made gender equality a political savings accounts. priority, clearly defining expectations for each Ministry and tasking the Ministry of Finance (Ministerio de Centralizing Responsibilities Hacienda) with developing sex-disaggregated At the SBIF, the responsibility of gathering and statistics that would help it understand the differences analyzing sex-disaggregated data was centralized in in men’s and women’s economic participations rates. one unit within the Research Area: the Unit of Financial Products and Banking. Centralizing the responsibility Embedding Gender: Performance for sex-disaggregated data, as well as targeting the Management Systems production of an annual report featuring an analysis Chile’s gender policy was integrated across of the data, helped to embed the regular production government bodies through the implementation of its of sex-disaggregated data as part of the SBIF’s Performance Management Improvement Plan (PMG). responsibilities. The Research Area was also able to The PMG, developed in 1998 to improve government quickly develop a plan to generate the data, and effectiveness, incorporates performance indicators continue improving its collection and use, given its for all public entities and links achievement to staff nimbleness. pay. Bonuses are awarded or denied based on the While the Unit of Financial Products and Banking achievements of each department in 6 categories: is tasked with conducting a variety of specialized human resources, customer service, integrated research, the institutional production of statistics is territorial management, financial administration, not its permanent (or dedicated) function. This work planning, performance management and gender is done by another unit within the Research Area: equity. The latter was incorporated into the PMG as a the Financial Statistics Unit. Currently, there are priority, with the overall objective of institutionalizing plans to move all sex-disaggregated data collection gender equality measures at