Gender diversity as a tool to make central banks progressive institutions: the case of the Central Bank of Ecuador

The aim of this chapter is to demonstrate that an increase in gender diversity – understood here not only as an increase in the feminization rate (proportion of women) and participation rate (high occupancy of senior positions by women) in central banks but also as a socio-demographic variable taken into account in central banks' decision-making – will bring about a new "vision" and a new paradigm in the world of central banking. Such a "vision" and "paradigm" will help central banks to become more progressive institutions, namely, more embedded in society. Focusing on the case of Ecuador, which I have been investigating for one year, and which provides evidence of progressive policies, I attempt to argue that gender diversity will promote : - the ability to reach new central bank objectives ; - the ability to improve cooperation within the internal organization of the central bank, in order to deal more efficiently with the management of the complexity of information ; - the ability to promote the culture of the institution, which is of the utmost importance in the creation of legitimized national models of the central banks, especially in emerging countries. Overall, I believe that increased gender diversity is likely to lead to new types of managerial expertise in central banks, enabling transformation of the central banks in "mobilization structures" and empowering women within these institutions.