2  See Stevens G (2010), “The Challenge of Prosperity”, Address to the Committee for Economic Development of Australia (CEDA) Annual Dinner, Melbourne, 29 November. 2  BIS central bankers’ speeches  Graph 2  Graph 3  An important factor contributing to the strong growth in per capita income in Australia has been our favourable demographics.
Over the past couple of decades, we have been in somewhat of a sweet spot. While the population has been ageing, there has been a steady rise in the share of the population in the 15 to 64 age group due to a decline in the percentage of children in the population (Graph 4).