Transcript No Slide Title

The Paths to Increasing Australian
Prosperity
Address by the Treasurer, Peter Costello MP, to
the Australian Financial Review Leaders'
Luncheon,
Sydney, 7 August 2002
Determinants of GDP
Total population
Population
Share of population 15+
Employment
Participation rate
GDP
Unemployment rate
Participation
Average hours worked
Capital deepening
Productivity
Multifactor productivity
Components of average annual
GDP growth over the last 40 years
Percentage Contribution
Percentage Contribution
4
4
Productivity
3
Population
3
Participation
2
2
1
1
0
0
-1
-1
Population
Share of
Participation Unemployment Average hrs
population 15+
rate
rate
worked
Labour
productivity
Real GDP
Child and aged to working-age ratios
Per cent
Per cent
70
70
60
60
50
50
40
40
30
30
20
20
10
10
0
0
1972
1982
1992
2002
Child
2012
Aged
2022
Combined
2032
2042