New Delhi, March 10 -- In 2012, facing a shrinking labour force and economic stagnation, then-Japanese Prime Minister Abe Shinzo bet on women. To encourage more women to work, his government rolled out a series of reforms, including expanded childcare, enhanced parental leave and tax incentives for firms that promoted women. By 2019, 2.5 million additional women were employed, female labour-force participation reached 67% and job placement for graduates was nearly universal.

The conclusion: When barriers to women's workforce participation are removed, economic outcomes improve.

Today, developing economies face the opposite challenge: a massive youth bulge. Over the next 10-15 years, 1.2 billion young people will enter the labour market ...