Gender equality key to addressing low fertility

Women and their partners across developed economies in Europe and Asia have identified one of the key reasons why they choose to have no children or only one child — it is unaffordable.

Does this mean if governments want to address low fertility rate, all they need to do is make child rearing more affordable with better financial support? Not necessarily.

Over the past 16 years, the Republic of Korea has spent $200 billion on a generous package of family support measures intended to boost the population, but at 0.84 births per woman its fertility rate remains one of the lowest in the world. Similarly, Singapore provides a generous support package for children, including up to $18,000 in financial support for the first born and $28,000 for subsequent children, but its fertility rate has remained at 1.12.