 My presentation here focused on the productivity implications of digital technologies. As economists all know, productivity is the long-run source of income growth, and unfortunately we have been seeing very weak performance of productivity at the macroeconomic level. This is surprising in the context of rapid rise of digital technologies. Just think about mobile applications, online platforms and cloud computing. With the colleagues of mine and the OECD, we've been looking at these issues using detailed firm-adult and industrial data to try to shed light on this discrepancy between the expectations that digital technologies yield and the dismal reality in terms of weak productivity performance. And we find three main messages. The first one is that in fact digital technologies matter, they deliver productivity benefits, but not so many firms adopt them yet as we might think. There is large discrepancies between adoption rates of digital technologies across sectors, across countries. That's the first one. The second one is even if firms adopt these digital technologies, they do not deliver automatically the benefits. The firms need to implement additional complementary investments in intangibles such as managerial capital and worker skills. And the third point which is related to the second one is that governments can play a crucial role here in helping firms to have the right capabilities and incentives to adopt digital technologies and to have the right complementary investments in skills and managerial practices.