Generate text that refutes this claim: More women in the labour market leads to higher GDP  By introducing gender quotas to ensure gender equality, one could not only increase the labour force by bringing more women but also enhance the labour productivity and the available talent pool in a country. This would stimulate businesses to expand, innovate, and compete. This process has an effect of raising tax revenue and social security payments. The overall effect is the positive growth of the economy.  Therefore, addressing social injustice and higher economic returns are mutually supportive goals.  This argument is particularly relevant for qualified women who could be hired at executive positions, but are prevented from doing so due to cultural beliefs, societal practices, and lack of economic and institutional support. A study by Asa Löfström on the links between economic growth and productivity in the labour market argues that if women’s productivity level rises to the level of men’s, Europe’s GDP could grow 27% which makes women’s participation is of crucial importance to Europe’s economy. [1] Quotas would allow for a better utilisation of the talent pool; as currently, 59% of the students graduating from Europe’s higher educational institutes are women. [2] With the current access to education and the introduction of quotas against barriers of existing prejudices, women will have incentives and support to increase their productivity  In the case of Norway, the quota law requires all public, state-owned , municipal, inter-municipal and cooperative companies to appoint at least 40% women on their boards per 2008. The law led to a fast increase from 6% women on boards of public limited companies in 2002 to  36% in 2008. [3]  [1] Löfström, Asa. Gender Equality, Economic Growth and Employment. Swedish Presidency of the European Union, 2009. Web.  [2] European Parliament, “Gender Quotas in Management Boards”, 2012  [3] Working Paper: “The Quota-instrument: Different Approaches across Europe”. N.p.: European Commission’s Network to Promote Women in Decision-making in Politics and the Economy, 2011. Web.
gender house believes gender quotas eu are advantageous economies member states
If there is no equal access to education and training opportunities, this measure does not address gender inequality. On the contrary, gender quotas are likely to bring inefficiencies because companies face sanctions if they do not abide by the legislation.  Introducing this legislation on the overall population of the EU rather than simply on matters regarding qualified women will introduce impediments to businesses across sectors. The EU member states uphold gender equality in the EU Charter of Fundamental Rights. Therefore, women do not face particular institutional obstacles to their employment. On the contrary, they have the legal support of the EU law.  Moreover, evidence shows the effects of quotas are distortive. In the case of Sweden, the short-term effects of quotas suggest some negative impact on firm returns. The companies had to reorganise their activities to compensate for this consequence. [1] Even in Norway, many firms changed their status (e.g. they moved to other countries) to avoid the sanctions for non-compliance while those who introduced the compromise experienced a relative decline in annual profits over assets associated with the quota. [2]  [1] Pande, Rohini &amp; Deanna Ford, “Gender Quotas and Female Leadership: A Review” , Background Paper for the World Development Report on Gender, 2011  [2] Matsa, David, and Amalia Miller. "A Female Style in Corporate Leadership? Evidence from Quotas." American Economic Journal: Applied Economics, 30 April 2012