Consider, for example, the quality of management: since the information-technology revolution, this factor has become highly correlated with productivity growth. More in general, Italy has paid the price of the delays that we have documented with respect to the main advanced countries in terms of innovation capacity, human capital, and fragmentation of the productive system. 30.
As is usual at the MAC meeting, the format will involve the presentation of a report of the technical officials of our five central banks, followed by a discussion of the issues raised in the report. The technical report will be presented by the current chairman of the technical officials, Dr Adam Mugume, of the Bank of Uganda.