Not exact matches
In my view, the
underlying drivers of the slower wage
growth in Australia are much the same as we are seeing overseas.
We expect earnings
growth to take over from multiple expansion as a
driver of returns, and the decline in risk premia to largely be offset by a rise in
underlying government bond yields.
Another
underlying and probably longer - term
driver for the
growth of dividend investing is the demographic change in high income regions, such as the U.S., European Union, and Japan (see Exhibit 4).
Furthermore, the unwillingness
of the world to confront the zero - order issue
of human population
growth as an
underlying driver of global change generally is discouraging.