While I agree with your point in general, the Faroe islands might qualify.

I do not know why, but they have a 2.4 fertility rate, could be related to an influx of women from poor countries (which in turn might not participate in the workforce, confirming what you state).

If you asked me, I’d say that the most probable cause is that people in Faroe Islands have less opportunity to get Education and build a Career, which makes childbearing more attractive in relative terms, as opportunity cost is lower. For the same reason, policies that in the west make it easier to have Education and Career, like subsidized daycare, end up depressing the fertility even further, contrary to expectations.