Gender equality matters in its own right but is also smart economics: Countries that create better opportunities and conditions for women and girls can raise productivity, improve outcomes for children, make institutions more representative, and advance development prospects for all, says a new World Bank flagship report.

The World Development Report 2012: Gender Equality and Development details big strides in narrowing gender gaps but shows that disparities remain in many areas. The worst disparity is the rate at which girls and women die relative to men in developing countries: Globally, excess female mortality after birth and “missing” girls at birth account for an estimated 3.9 million women each year in low- and middle-income countries. About two-fifths are never born due to a preference for sons, a sixth die in early childhood, and over a third die in their reproductive years. These losses are growing in Sub-Saharan Africa, especially in countries hard-hit by HIV/AIDS.